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Top Growth opportunities: Meat in the US

Top Growth opportunities: Meat in the US

Summary

United States has the largest meat sector by value globally, worth in excess of US$200 billion. However, growth for this market is low compared with other developed nations, with a forecast CAGR for 2016–2021 of less than 1%. Japan, China, and Mexico represent three of the largest export destinations for US meat producers, although the recent US withdrawal from the TPP trade deal and deterioration in relations between the US and key trading partners threaten to restrict exports, with tit-for-tat tariffs a possible outcome of recent tensions. Proposed interest rate hikes seek to manage domestic demand, while the strong US dollar continues to make meat imports more expensive for foreign buyers, particularly in developing markets. Fluctuations in demand are possible, and producers should be careful to avoid surplus production and overcapacity in the meat sector.

The US meat market will struggle to match the growth in average consumer spend witnessed in other markets, such as Austria and Hong Kong. A positive economic outlook, buoyed by strong consumer confidence and regulatory reform, will support growth in meat consumption in the immediate future, and create opportunities for both established brands and new market entrants to target consumers.

The Off-Trade meat sector has experienced steady growth since 2011, with value-conscious consumers choosing to create meal ‘experiences’ at home and buying meat in certain segments. Frozen Meat, for example, has posted an impressive CAGR, and looks set to outstrip growth in other segments in the five years to 2021. US economic growth and positive consumer sentiment could help boost On- Trade growth in the meat sector in the next five years. Chilled Raw Packaged Meat Processed) is the highest value category, and is estimated to be worth US$63 billion by 2021, despite a slowing growth rate overall.

In the US in 2016, hypermarkets and supermarkets accounted for over 82% of meat consumption value. This shows the prominence of the channel in the US market. Food & Drink Specialists in meat often sell high-priced items such as gourmet and premium meat products, which help it to account for more than 10% of the money spent on meat in the country. Convenience Stores are able to attract 4.5% of the money spent on meat despite having a higher price tag. This is because consumers are willing to pay more for convenience. Cash & Carries allow consumers to buy in bulk and save money on everyday food products such as meat and frozen goods. This channel accounted for almost 1% of consumption by value in 2016.

The report Top Growth opportunities: Meat in the US, provides recommended actions and detailed analysis of how to target the best growth opportunities for meat producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Meat markets in the US.

In depth, this report allows to access the following -

  • Key consumer demographic groups driving consumption within the US market. Improve your consumer targeting by understand who’s driving the market, what they want, and why.
  • A study of market value and volumes over 2011–2016 for the US, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
  • White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
  • Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
  • Examples of international and US-specific product innovation targeting key consumer needs.
Companies mentioned in this report: Walmart Supercenters, Albertsons/Safeway Inc., Kroger Supermarkets, Publix, Costco Warehouses, 7-Eleven, Walmart Neighborhood Markets, ALDI, Trader Joe’s, WinCo, Tyson Foods, Inc., WH Group, Hormel Foods Corporation, Cargill, Inc., Perdue Farms, Inc., Conagra Foods, Inc., Happychef, Waitrose, Chef Bruce Aidells, Gilbert's, Nalley Sandwich Creations, Hormel, McCormick Grill Mates, Today’s Kitchen, Hy-Vee, TenderBison, Target, Jack Link's, Ball Park, Trader Joe's, Doelling, Johnsonville, Tesco, Linpac.

Scope
  • The US meat market presents an opportunity for producers due to its very large size, stability and consumer spending confidence
  • The modest growth witnessed in the US meat market in the five years to 2016 is set to slow by 2021. However, with a meat market worth in excess of US$200 billion - the largest globally - the US is too large for producers to ignore
  • Cooked Meats (Packaged) and Frozen Meat will see the fastest US$ value growth between 2016 and 2021.This reflects consumers’ real or perceived time-scarcity and the desire to reduce time spent on cooking
  • Hypermarkets & Supermarkets account for more than four fifths of Meat market value share, with US consumers responding postively to aggressive pricing strategies.
  • The top 10 meat brands in the US control over a fifth of market value. Private label brands are growing well in the US meat sector.
Reasons to buy
  • This report brings together consumer analysis and market data to provide actionable insight into the behavior of US Meat consumers.
  • This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Meat sector.
  • Category, brand, and packaging dynamics are also examined.
  • This allows product and marketing strategies to be better aligned with the leading trends in the market.


  • Introducing a top growth market for meat
    • Top opportunity markets
    • GlobalData Consumer's opportunity scoring methodology
    • Top 10 global growth opportunities scores
    • Top global issues
    • Assessment against global strategic issues
    • GlobalData's strategic issues map
    • Predicted future issues for the global meat sector
    • US reward and risk assessment
    • Opportunity score - US overview
    • Consumer meat spending trends - peer group comparisons
    • Political, Economic, Social, and Technological: Analysis
    • Enablers and inhibitors of growth
    • US - rewards and opportunities for growth
      • Table Market Value of US meat Market, 2011-2021
    • Summary of the meat market in the US
  • Market insight - identifying the opportunities to move into
    • Market growth by category
    • Value growth of the US meat market by category
    • Contribution to change by value
      • Table Category values (US$ millions)
    • Volume growth of US meat market by category
    • Contribution to change by volume
      • Table Category volumes (millions Kg)
    • Level of premiumization by category
    • Category analysis - key drivers of change in meat
  • Retail and distribution insight - key channels and retailers driving growth
    • Meat retail channel share - US
    • Key Retail Channel trends
    • Routes to market - retail overview
      • Table Supermarkets/Hypermarkets Number of outlets in the US
    • Routes to market - key retailers
    • Drivers of change in the Meat sector
  • Company and brand insight - the competitive landscape defined
    • Meat category fragmentation
    • Company and brand strength
    • Private label penetration
      • Table Private label growth compared to brands by categories (in value terms), in the US meat sector, 2011-2016
    • Brand share by leading supplier for total meat
    • International and domestic brand analysis
      • Table Top Five International Meat Brands
      • Table Top Five Domestic Meat Brands
    • Company and brand strength summary
  • Consumer insight - who, what, when, where and why
    • Strategic issues map - key consumer trends affecting market strategy
    • Strategic issues map - pitfalls and opportunities
    • Key consumer drivers implications for meat
    • Key consumers trends in US meat
    • Consumer groups - Key consumer targets
      • Table 2016 Consumption volume shares by consumer group
    • Consumer groups - key consumption motivators
      • Table Fresh Meat - Counter
      • Table Chilled Raw Packaged Meat - Processed
      • Table Chilled Raw Packaged Meat - Whole Cuts
      • Table Frozen Meats
    • Key Health & Wellness trends
    • Penetration of Health and Wellness claims by category
    • Consumer trends summary
  • Product and packaging insights –
    • Key Product Insights in meat
    • Trends and strategic issues - other notable product trends
    • Product & Packaging insights - Key product innovation case studies
    • Key product innovation case study: Gilbert's Beef Franks
    • Key Packaging Insights
    • Trends and strategic issues - packaging material trends
    • Trends and strategic issues – packaging closures
    • Product launch key takeouts
  • White spaces and innovation opportunities - space to move into
    • Highest growth segments to target when entering the US meat sector
    • Consumer spaces to target when entering the US meat market
      • Table Top volume CAGR categories 2011-2016
    • Segment focus - segment opportunities
    • Price change by category in the US meat sector
    • Pricing strategies - movements in average prices for leading brands
      • Table Monthly average price point, US$
    • Recommendations for new ways to enter the meat sector in the US
  • Appendix and Definitions
    • Category Definitions: Loose & Unpackaged sales of fresh and cooked meat are tracked
    • Category Definitions: Ambient Meat
    • Category Definitions: Frozen Meat
    • Category Definitions: Chilled Raw Packaged Meat - Whole Cuts
    • Category Definitions: Chilled Raw Packaged Meat - Processed
    • Category Definitions: Cooked Meats - Counter
    • Category Definitions: Cooked Meats - Packaged
    • Category Definitions: Fresh Meat (Counter)
    • Channel Definitions
    • Product Attribute Definitions: Food Minus
    • Product Attribute Definitions: Functional & Fortified
    • Product Attribute Definitions: Naturally Healthy (NH)
    • Product Attribute Definitions: Food Intolerance (FI)
    • Accreditation Definitions
    • Consumer Benefit Definitions: Performance
    • Consumer Benefit Definitions: Health Management
    • Consumer Benefit Definitions: Weight & Shape Management
    • Consumer Benefit Definitions: Beauty From Within
    • Consumer Benefit Definitions: General Wellbeing
    • Consumer Packaged Goods Retail Data
    • Health & Wellness data is built using detailed store audits in combination with market volumes from GlobalData's market data research

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