Report Overview

China Meat Market – Market Trends & Forecast Report 2029

The China Meat market size was valued at USD 73.79 billion in 2022. During the forecast period between 2023 and 2029, the China meat market size is expected to grow at a CAGR of 19.2% to reach a value of USD 253.63 billion by 2029. The rising consumer incomes have led to increased meat consumption, particularly pork, which is a staple in Chinese cuisine. In 2021, meat production reached a historic high of 89 million metric tons. China's Ministry of Agriculture and Rural Affairs (China MARA, 2022) envisions a gradual resurgence in meat production, projecting an increase to 93.1 million metric tons by 2025 and a further rise to 95.7 million metric tons by 2031. Urbanization and changing lifestyles have further fueled demand for convenient, processed meat products. Additionally, a growing middle class seeks higher-quality and safer meat products, driving premium and imported meat sales. Government policies and food safety regulations also play a significant role in shaping the market, with a focus on ensuring product safety and quality. Overall, these factors combine to make China's meat market one of the largest and most dynamic in the world.

Meat - Overview

Meat is a food product generated from animal flesh; however, it also includes fowl and certain other animals. It is derived primarily from chickens, rabbits, cows, pigs, sheep, goats, lamb, deer, and duck. It is a rich source of protein, carbs and fatty acids, vitamins, and minerals, and has been a staple diet for humans. It also aids in the proper growth of the body. One of the primary advantages of meat diet is its high protein content. Protein is required for muscle repair and growth, as well as for a variety of other biological functions. Furthermore, red meat is the major type of the meat market. Red meat typically refers to meat that comes from mammals, such as cattle (beef), pigs (pork), sheep (lamb), and goats. It is called "red meat" because of its colour when raw, which is typically reddish or pinkish due to the presence of myoglobin, a protein in muscle tissue that stores oxygen. Red meat is a significant source of essential nutrients like protein, iron, zinc, and various B vitamins, including B12.

China Meat Market – Market Trends & Forecast Report 2029

Growth Driver

Increasing Disposable Income and Purchasing Power

The anticipated growth of the China meat market is closely linked to the increasing disposable income and purchasing power of its population. According to 2023 data from China Briefing, China has witnessed significant economic progress, with a median disposable income per capita of RMB 31,370 in 2022, marking a 4.7% year-on-year increase and more than doubling the figure recorded in 2013. In urban areas, where consumer affluence is more pronounced, the median disposable income per capita reached RMB 45,123 in 2022, reflecting a 3.7% year-on-year rise, while rural areas also experienced notable growth, with a median disposable income per capita of RMB 17,734, up 4.9% year-on-year. This surge in income levels is expected to fuel greater consumer demand for meat products, contributing to the growth and transformation of China's meat market. This prominent expansion in income levels is poised to significantly influence consumer behavior, propelling a surge in meat consumption and fostering a dynamic and evolving meat market landscape. As consumers gain the means to prioritize quality, variety, and safety in their dietary choices, the meat market is expected to experience heightened demand, catering to a diverse array of preferences and contributing to the sector's ongoing growth and surge in response to China's changing economic landscape.

Restraints

Negative Impact of China’s Meat Industry on Environment

China's meat industry is facing a significant obstacle to its growth due to the negative environmental impacts it generates. A study from the 2023 Journal of Cleaner Production revealed that the environmental burden associated with chicken meat production in China steadily increased by 79% between 2010 and 2019. This concerning trend, highlighted by the worsening environmental consequences, not only raises environmental awareness among consumers but also signals potential regulatory challenges. As consumers become more conscious of the industry's environmental toll, they may shift towards more sustainable and eco-friendly alternatives, and policymakers could implement stricter regulations, both of which have the potential to hinder the expansion of China's meat market. Furthermore, escalating greenhouse gas emissions stemming from China's meat industry are having a detrimental impact on the environment, significantly impeding the growth of the Chinese meat market. A recent report from the Rhodium Group reveals that China's greenhouse gas emissions surpass the collective emissions of all developed nations, contributing a staggering 27% of global greenhouse gas emissions in 2019. These emissions exacerbate climate change, resulting in adverse consequences such as rising temperatures, extreme weather events, and ecosystem disruption, ultimately posing a major obstacle to the expansion of the Chinese meat industry.

China Meat Market – By Type

Based on type, the China meat market is divided into red meat, poultry, and seafood. The red meat segment shows significant growth as cultural preferences play a huge role, as pork has been a staple in Chinese cuisine for centuries. According to U.S. Meat Export Federation report in 2021, shipments of pork variety meat export in China from the United States have shown robust growth, surging by 24% to reach 259,703 metric tons, and demonstrating a remarkable 29% increase in value, totalling USD 623.7 million. This shows the market potential and future growth for this segment. The red meat further segmented into beef, lamb, pork, and others. The pork segment shows significant growth due to being affordable and widely available, making it accessible to a broad range of consumers. Moreover, government policies and investments in the pork industry have supported its growth and stability. According to U.S. Meat Export Federation report in 2021, On average, variety of pork meat exports to China from United States amounted to six pounds per head harvested during the period up to September, with an estimated value of USD 6.52 per pound. The need for imports shows the high demand for pork in China, which boost the market growth.

China Meat Market – By Product Type

Based on product type, the China meat market is divided into fresh, chilled, and frozen. The fresh segment shows significant growth due to consumer preferences for freshly sourced products. Fresh meat is favored for its perceived quality, taste, and shorter supply chain, which provides greater confidence in product freshness and safety. Chinese consumers often prioritize the purchase of live or freshly slaughtered meat to ensure its quality and authenticity. Additionally, cultural and culinary practices, such as stir-frying and hot pot cooking, often demand fresh meat ingredients. Consequently, the fresh meat segment maintains its prominence in the Chinese market due to its alignment with consumer preferences and traditional cooking methods.

China Meat Market – By Distribution Channel

Based on the distribution channel, the China meat market is split into on-trade and off-trade. The off-trade segment shows significant growth due to the country's rapidly growing urbanization, increasing meat purchase and changing consumer preferences. According to U.S. Department of Agriculture, Economic Research Service report, in 2021, per capita meat purchases per household in China increased by 7.0 kilograms than the previous year. Consequently, the off-trade channel's convenience, variety, and perceived quality have contributed to its growth in China's meat market. Moreover, off-trade segment is segmented into supermarkets/hypermarkets, specialty stores, online stores and others. Supermarkets/hypermarkets segment hold a significant market share as they offer a wide range of products, including red meat, making them a one-stop-shop for consumers. Supermarkets often have the advantage of economies of scale, enabling them to offer competitive prices and promotions. Furthermore, the COVID-19 pandemic has accelerated the shift towards online shopping, and many supermarkets have adapted by offering online ordering and delivery services, further contributing to their growth.

Competitive Landscape

The China meat market is a significant and highly competitive industry. The Chinese meat business is highly fragmented, with many small and medium-sized (SME) operators coexisting with a few strong companies. Key players in the market include WH Group Limited, Tyson Foods, Inc., Cargill Inc., New Hope Group Co., Ltd, COFCO Corporation, Yurun Holding Group Co. Ltd, Zhucheng Waimao Co. Ltd, Hormel Foods Corporation, Parker International LLC, Migliorini, and Muyuan Food Co. Ltd. Although the sector is extremely competitive and has low entry barriers, operations can be difficult due to disease outbreaks, rising manufacturing costs, and regulatory scrutiny. According to the National Bureau of Statistics of China, the total production of hogs in 2021 was 671 million heads, 27.4% higher than 527 million heads in 2020. In 2021, WH Group Limited packaged meats sales volume increased by 1.3% to 3,320 thousand metric tons. In China, sales volume during the year decreased by 1.6% as consumer market lacked growth momentum. Meanwhile, WH Group Limited continued to transform their product portfolio by introducing new products and expanding new sales channels.  

Recent Developments

• In August 2023 - Cell-grown beef startup based in Shanghai CellX opened China's first cultured meat pilot factory. Yang said the Shanghai company had a 2,000-litre bioreactor that can generate "single-digit tons" of cultured meat each year, with more bioreactors in the coming years.

Scope of the Report

By Type

• Red Meat

1. Beef

2. Goat

3. Lamb

4. Pork

5. Others

• Poultry

1. Chicken

2. Turkey

• Sea Food

1. Fish

2. Crab

3. Lobster

4. Others

By Product Type

• Fresh

• Chilled

• Frozen

 By Distribution Channel

• On-Trade

• Off-Trade

1. Supermarkets/Hypermarkets

2. Specialty Stores

3. Online Stores

4. Others

 By Cuts Type

• Beef Meat

1. Chuck

2. Ribeye

3. Sirloin

4. Tenderloin

5. Ribeye

6. Flank

• Lamb

1. Shoulder Cuts

2. Rack Cuts

3. Others (Belly, Flank, and Neck)

• Pork

1. Pork Shoulder

2. Pork Belly

3. Pork loin

4. Others (Pork tenderloin, Pork Ribs, Pork Chops, Ground Pork, Ham)

 By Breed Subtypes

• Beef Meat

1. Angus Beef

2. Wagyu Beef

• Lamb

1. Han Lamb

2. Yushu Marino

3. Ujimqin Lamb

4. Others (Hu Lamb, Duolang Lamb)

• Pork

1. Landrace

2. Duroc

3. Yunnan Black

4. Others (Hampshire, Large White, Meishan)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. China Meat Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing disposable income and purchasing power
         2. Flourishing tourism sector of China
      2. Restraints
         1. Negative impact of China’s meat industry on environment
      3. Opportunities
         1. Increasing demand for packaged meat products
         2. Expanding meat import and export activities
      4. Challenges
         1. Negative impact of the COVID-19 pandemic
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. China Meat Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1.  By Type
         1. Red Meat
            1. Beef
            2. Goat
            3. Lamb
            4. Pork
            5. Others
         2. Poultry
            1. Chicken
            2. Turkey
         3. Sea Food
            1. Fish
            2. Crab
            3. Lobster
            4. Others
      2.  By Product Type
         1. Fresh
         2. Chilled
         3. Frozen
      3.  By Distribution Channel
         1. On-Trade
         2. Off-Trade
            1. Supermarkets/Hypermarkets
            2. Speciality Stores
            3. Online Stores
            4. Others
      4.  By Cuts Type
         1. Beef Meat
            1. Chuck
            2. Ribeye
            3. Sirloin
            4. Tenderloin
            5. Ribeye
            6.  Flank
         2. Lamb
            1. Shoulder Cuts
            2. Rack Cuts
            3. Others (Belly, Flank, and Neck)
         3. Pork
            1. Pork Shoulder
            2. Pork Belly
            3. Pork loin
            4. Others (Pork tenderloin, Pork Ribs, Pork Chops, Ground Pork, Ham)
      5.  By Breed Subtypes
         1.  Beef Meat
            1. Angus Beef
            2. Wagyu Beef
         2. Lamb
            1. Han Lamb
            2. Yushu Marino
            3. Ujimqin Lamb
            4. Others (Hu Lamb, Duolang Lamb)
         3. Pork
            1. Landrace
            2. Duroc
            3. Yunnan Black
            4. Others (Hampshire, Large White, Meishan)
5. Competitive Landscape
   1. List of Key Players and Their Range
   2. China Meat Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership)
6. Impact of Covid-19 on China Meat Market Industry
7. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Cargill Inc.
   2. WH Group Limited
   3. Zhucheng Waimao Co. Ltd
   4. Yurun Holding Group Co. Ltd
   5. Shandong Delisi Food Co., Ltd
   6. COFCO Corporation
   7. Parker International Llc Migliorini
   8. Tyson Foods, Inc.
   9. China Xiangtai Food Co. Ltd
   10. Hormel Foods Corporation
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents
   5. Assumption & Limitation

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1 China Meat Market Segmentation

Figure 2 China Meat Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2022

Figure 4 China Meat Market Size, By Value (USD Million), 2019–2029

Figure 5 China Meat Market Size, By Type, By Value, 2019–2029

Figure 6 China Meat Market Size, By Product Type, By Value, 2019–2029

Figure 7 China Meat Market Size, By Distribution Channel, By Value, 2019–2029

Figure 8 China Meat Market Size, By Cuts Type, By Value, 2019–2029

Figure 9 China Meat Market Size, By Breed Subtypes, By Value, 2019–2029

List of Tables

Table 1 China Meat Market Size, By Type, By Value, 2019–2029

Table 2 China Meat Market Size, By Product Type, By Value, 2019–2029

Table 3 China Meat Market Size, By Distribution Channel, By Value, 2019–2029

Table 4 China Meat Market Size, By Cuts Type, By Value, 2019–2029

Table 5 China Meat Market Size, By Breed Subtypes, By Value, 2019–2029

Table 6        Cargill Inc. Company Overview

Table 7        Cargill Inc. Financial Overview

Table 8        WH Group Limited Company Overview

Table 9        WH Group Limited Financial Overview

Table 10      Zhucheng Waimao Co. Ltd Company Overview

Table 11      Zhucheng Waimao Co. Ltd Financial Overview

Table 12      Yurun Holding Group Co. Ltd Company Overview

Table 13      Yurun Holding Group Co. Ltd Financial Overview

Table 14      Shandong Delisi Food Co., Ltd Company Overview

Table 15      Shandong Delisi Food Co., Ltd Financial Overview

Table 16      COFCO Corporation Company Overview

Table 17      COFCO Corporation Financial Overview

Table 18      Parker International Llc Migliorini Company Overview

Table 19      Parker International Llc Migliorini Financial Overview

Table 20      Tyson Foods, Inc. Company Overview

Table 21      Tyson Foods, Inc. Financial Overview

Table 22      China Xiangtai Food Co. Ltd Company Overview

Table 23      China Xiangtai Food Co. Ltd Financial Overview

Table 24      Hormel Foods Corporation Company Overview

Table 25      Hormel Foods Corporation Financial Overview