Market Size of united states red meat Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 93.92 Billion |
|
|
Market Size (2029) | USD 100.18 Billion |
|
Largest Share by Type | Beef |
|
|
CAGR (2024 - 2029) | 1.30 % |
|
|
Fastest Growing by Type | Beef |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
US Red Meat Market Analysis
The United States Red Meat Market size is estimated at 93.92 billion USD in 2024, and is expected to reach 100.18 billion USD by 2029, growing at a CAGR of 1.30% during the forecast period (2024-2029).
93.92 Billion
Market Size in 2024 (USD)
100.18 Billion
Market Size in 2029 (USD)
5.92 %
CAGR (2017-2023)
1.30 %
CAGR (2024-2029)
Largest Segment by Type
68.89 %
value share, Beef, 2023
American citizens spend a lot of money on beef products, primarily due to the country's higher beef production, which is a considerable part of agriculture in the US.
Largest Segment by Form
53.74 %
value share, Fresh / Chilled, 2023
Demand for fresh meat has risen in recent years, fueled by the lift of the ban on fresh beef import from Brazil by the Food Safety and Inspection Service of the USDA.
Fastest-growing Segment by Type
1.35 %
Projected CAGR, Beef, 2024-2029
The most popular processed beef products consumed in the United States include ground beef, luncheon meat, sausages, hot dogs, salami, pepperoni, burgers, and beef jerky.
Fastest-growing Segment by Form
2.73 %
Projected CAGR, Processed, 2024-2029
Processed pork dominates the segment as a result of the increasing demand for value-added pork products, including luncheon meat sausages, hot dogs, ham, and bacon.
Leading Market Player
18.64 %
market share, Tyson Foods Inc., 2022
Tyson offers beef and pork products under its extensive portfolio of brands, which include Ball Park, Hillshire Snacking, Sara Lee, Bosco's, Galileo, and SteakEze.
High production and cultural tradition propels the beef preference in the American diet
- Beef is the most consumed red meat. In 2021, beef observed the highest growth rate by value from 2020, registering 10.34% in the market. Beef is a significant part of the traditional American diet. Popular dishes like hamburgers, steaks, and meatloaf often feature beef as the main ingredient. Texas ranchers breed their Longhorn cattle with Hereford and Angus to produce beef that is highly demanded in the Eastern states.
- Among California, Florida, New Jersey, New York, and Texas, Texans spent the most on beef products, accounting for a 26-28% share during 2019-2021. This was driven by higher beef production in the state. The cattle industry offers more than USD 13 billion annually to the Texan economy. Hamburger consumption in Nevada is higher than in most other states.
- Pork is the second-largest type of red meat, primarily due to the increasing consumption of processed pork, such as luncheon meat, sausage, ham, and bacon. Thus, processed pork is projected to record the fastest CAGR of 1.20% during the forecast period. The U.S. Department of Agriculture (USDA) invested more than USD 43 million in meat processing facilities, such as pork, for expansion throughout the country. As of March 2022, Iowa had an inventory of about 23 million pigs, making it the top producer of swine in the country.
- Over the years, the value share of mutton in the market has grown significantly. Approximately 300 million pounds of lamb are sold annually in the United States, with the majority of the product imported from Australia and New Zealand. The major reason for the decline of sheep production in the US is the decline in wool and lamb meat demand. There are 5.2 million heads of sheep and lamb in the US, with Texas and California leading in terms of production.
Understand The Key Trends Shaping This Market
