Meat Products Manufacturers

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 3,442 meat manufacturing facilities in the US slaughter, process, and package meat protein products; principally beef, pork, and poultry. Meat manufacturing operations are comprised of three main processes: animal slaughtering, meat processing and packing, and rendering non-edible waste into useable byproducts. Larger manufacturers may engage in all of these activities, while smaller manufacturers may have much more limited or specialized operations.

Increasing Regulation

Meat products manufacturers are subject to extensive federal, state, and local laws and regulations by authorities that oversee slaughtering and processing, packaging, storage, distribution, advertising, labeling, food safety standards, and export of meat products.

Industry size & Structure
Industry Forecast
Meat Products Manufacturers Industry Growth
Source: Vertical IQ and Inforum

Recent Developments

Feb 23, 2024 - Producer Prices Fell in 2023
  • Producer prices for meat products manufacturers declined for the second straight year in 2023 amid weak demand, down nearly 1% after posting a 1.2% decline in the previous annual comparison, according to the US Bureau of Labor Statistics. Meanwhile, retail meat prices are rising, especially for beef. Employment by meat products manufacturers grew 1.6% last year while average industry wages climbed to a new high of $21.39 per hour in December, a 2.8% change compared to a year ago, per the BLS. Falling wholesale prices amid rising labor and other input costs is putting pressure on meat producers.
  • Legislators in Florida want to restrict the manufacture or sale of lab-grown meat, The New York Times reports. The bill, which is advancing through the Florida Legislature, would make the sale or manufacture of lab-grown meat a misdemeanor with a fine of $1,000. It’s one of a half-dozen similar measures introduced in Arizona, Tennessee, West Virginia, and elsewhere so far this year. Lab-grown meat (aka cultivated meat) is grown from cells taken from an animal and does not require slaughtering. While the USDA approved cultivated meat production for the first time in the US in 2023, it’s expected to be many years before lab-grown meat appears on dinner tables, according to NYT. While beef and poultry associations are opposed to lab-grown meat because of its potential to eat into sales, some meat companies have partnered with cultivated-meat startups to help meet global demand for protein, NYT reports.
  • Catering giant Compass Group has filed an antitrust lawsuit charging meatpacking companies with colluding to fix beef prices. The federal lawsuit – Compass Group USA, Inc. v. Cargill, Inc. – filed in late October in North Carolina is the latest to allege that the companies limited the supply of meat and fixed prices in the beef market. (JBS S.A., Swift Beef, National Beef Packing, Tyson Foods, and Tyson Fresh Meats were also named in the suit.) The lawsuit comes after a group of small food distributors filed a lawsuit in October against the largest beef companies for similar allegations. “Their vital role is to purchase cattle from the nation’s farmers and ranchers, slaughter and pack cattle into beef, and sell beef to purchasers like (Compass),” the complaint states. “Operating defendants’ gatekeeping role has enabled them to collusively control upstream and downstream beef pricing throughout the conspiracy period.”
  • Plant-based meat alternatives are facing a steep decline in sales, Pork Business reports. Sales of meat alternatives have fallen steadily since 2021 and more sharply over the last year. Volume sales dropped 20.9% for the 52 weeks ending July 2, 2023, according to consumer behavior research firm Circana. High prices for plant-based meat products are a major factor in the decline. "The price of plant-based meats is often several dollars a pound higher than for equivalent meat and poultry products,” according to a new report from CoBank's Knowledge Exchange. “Beyond cost, lingering negative perceptions surrounding taste, value, and versatility are also obstacles the category has yet to overcome." Plant-based meat sales peaked in 2020. However, fewer than half of Americans who tried the products at the time, repeated their purchase, according to data from consumer research firm Mintel.
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