First Research US Industry Profile

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Meat Product Manufacturing
SIC Codes: 2011, 2013, 2015, 2077
NAICS Codes: 3116
Last Quarterly Update: 5/30/2022
Companies in this industry slaughter animals and prepare meat products. Major companies include Hormel Foods and Tyson Foods (both located in the US); as well as BRF and JBS SA (Brazil); CPF (Thailand); Danish Crown (Denmark); NH Foods (Japan); and WH Group (Hong Kong), whose operations include US-based Smithfield Foods.
The world total meat production is about 340 million tons in 2020. The world's largest meat exporters in 2020 include the EU, the US, Brazil, Canada, Mexico, and the Russian Federation, according to the 2021 Meat Market Review by the Food and Agriculture Organization of the United Nations (FAO).
The US meat product manufacturing industry includes about 3,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $215 billion.
Competitive Landscape
Demand is driven by consumer income and by exports. Because meat is largely a commodity, the profitability of individual companies depends on efficient operations and an effective distribution network. Large companies have big economies of scale in production and distribution. Small companies can compete effectively in a local area or by producing unique products.
In the US, the slaughtering segment of the industry is concentrated: the 50 largest companies generate more than 75% of segment revenue.
Imports, primarily from Canada, Australia, and New Zealand, account for about 5% of the US market. Exports, which make up about 10% of US production, go mainly to Mexico, Japan, Canada, and South Korea.
Products, Operations & Technology
Major products are wholesale meat parts for further processing, ground beef for commercial use, and case-ready items for retailers. For 2021, the US industry ... plus:
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Regional & International Issues
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Human Resources
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