How Big Is the Worldwide Beef Market

Report Overview

The global beef market size was estimated at USD 300.6 billion in 2017 and is projected to exhibit a CAGR of 3.one% between 2017 and 2025. Rise in population and consumer disposable income, along with beefiness emerging as a primal source of protein, are major factors driving the market. Beef is one of the most consumed meat forms in the world and is simply 2nd to pork in terms of book consumption. At that place is a significant supply-demand gap in the marketplace due to the express production of this meat owing to diverse environmental and political factors.

Beefiness and veal (meat from calves) have the highest protein content compared to other meat forms and this is expected to increment their demand as a cardinal source of protein. Veal has the highest protein content of 33.ix% per 100 gm of cooked meat, which is college than any other form of meat. Pork, on the other manus, has a protein content of 29.three% while craven has 28.9% per 100 gm. China is a prominent market, driven by increasing demand for the meat, supported by rising disposable income. Red china has witnessed double-digit growth in disposable income and information technology is expected to maintain the same trend over the coming years. Improving the living standards of the people in the state has resulted in a shift in meat preferences, with most choosing beef-based products rather than products derived from pork and chicken.

Rising urbanization, growing global population, and the need to feed them are some of the key factors expected to contribute to market growth. The rapid and contempo spread of diseases in the pork and poultry markets have resulted in consumers turning to beefiness and associated products. As well, increasing demand for special cuts of meat, including kosher and halal beef, is anticipated to fuel the market.

Higher prices of beef in comparison to other forms is expected to negatively impact the market. In 2016, beef prices were more than than 61.0% college than other protein sources such as pork and poultry, resulting in decreased demand, primarily in economically affected countries. Also, an imbalance in the supply of cattle may result in an increase in cattle prices over the coming years.

Slaughter Method Insights

Kosher and halal slaughter methods accounted for a revenue share of 14.eight% and 18.seven% respectively in 2017. Kosher and halal meat is predominantly consumed past Jewish and Islamic population respectively. Northward America, Europe, and Israel together business relationship for over 80.0% of the global Jewish population. Consumers in North America prefer kosher beef due to significant advantages such as meliorate food safety, quality, and gastronomy.

Increasing the Islamic population effectually the globe primarily drives demand for the halal segment. Since Islam prohibits the consumption of pork, beef has emerged equally i of the most preferred forms of meat in these countries. Demand from the Center East and African countries is relatively college, considering the makeup of the population here.

Cut Insights

Based on the cut, the beef market can exist segmented into brisket, loin, shank, and others. Brisket is meat around the breastbone; information technology is the chest or pectoral musculus of the animal and is one of the key cuts. It is coarse-grained and thick meat and needs a lot of time and low temperature to tenderize and pause down. Information technology is one of the most flavorful cuts of the meat and is used in making corned beefiness, pot roast, and can be slow-cooked in a barbeque or a smoker.

The shank segment is estimated to annals a CAGR of 3.three%, in terms of acquirement, during the forecast period. Shank is located in the animal's forearms in front of the brisket. As the meat is lean, it is widely used to make low-fat footing beef. The other category includes round, ribs, chuck, plate, and flank and deemed for over 70.0% of the volume in 2017. The segment likewise held the dominant share in terms of revenue that year.

Regional Insights

North America was the largest market, accounting for xxx.4% of the total revenue in 2017. The U.South. was the world's largest producer in 2017 and is anticipated to maintain its dominant position over the coming years, with soaring need for processed meats. The loin is the most preferred cutting in the region and is served in all food outlets. Grass-fed products are highly preferred in the region due to low marbling score.

According to the Us Department of Agriculture (USDA), the U.S. is the largest consumer of beef in the industry as of 2017. The country is ranked 5th in terms of beefiness per capita consumption in the world afterwards Hong Kong, Argentina, Uruguay, and Brazil. Growth in Jewish and Islamic populations in the U.S. is likely to boost need for kosher and halal grade meats over the forecast flow.

In terms of revenue, the Asia Pacific market is expected to register the highest CAGR of four.0% over the forecasting menstruation, fueled by countries such as China, Islamic republic of pakistan, Commonwealth of australia, and Japan. Significant growth in dispensable income levels, along with irresolute lifestyles, has created a positive touch on the beef manufacture in Mainland china.

Ongoing shortages in the various consumer markets are likely to back up ascent imports of frozen beef, with Australia remaining the biggest supplier. Republic of india is a primal participant in the market as it one of the largest exporters of products, exporting about 1,849 kilotons of the product in 2017.

Key Companies & Market Share Insights

The global market is highly competitive owing to the presence of a large number of multinational players. Increasing demand at the regional and global level is assisting market players to increase their production capacity. Some of the players are also engaged in e-business organisation platforms to expand their distribution channels and footprint in the market.

Players such as Tyson Foods, Inc.; Danish Crown; Cargill, Incorporated; Marfrig Global Foods Southward.A.; NH Foods Ltd.; NH Foods Ltd.; St Helen'due south Meat Packers; Hormel Foods Corporation; JBS USA; National Beef Packing Visitor, LLC; Vion Food Group; and Australian Agricultural Company Limited are engaged in beef processing. Fresh meat, value-added meat, and processed meat are distributed to retailers, chain restaurants, grocery stores, and wholesalers.

Beef Market Report Scope

Report Aspect	Details
Market size value in 2020	USD 332.49 billion
Revenue forecast in 2027	USD 383.46 billion
Growth Rate	CAGR of 3.one% from 2017 to 2025
Base year for interpretation	2017
Historical data	2014 - 2016
Forecast period	2017 - 2025
Quantitative units	Revenue in USD million/billion and CAGR from 2017 to 2025
Report coverage	Revenue forecast, company ranking, competitive mural, growth factors, and trends
Segments covered	Cut, slaughter method, region
Regional scope	North America; Europe; Asia Pacific; Central & South America; Centre East & Africa
Country scope	U.S.; Canada; Mexico; Federal republic of germany; Russia; Switzerland; Prc; India; Nippon; Commonwealth of australia; Due south Korea; Brazil; Argentine republic; Colombia
Key companies profiled	Tyson Foods, Inc.; Danish Crown; Cargill, Incorporated; Marfrig Global Foods S.A.; NH Foods Ltd.; NH Foods Ltd.; St Helen'south Meat Packers; Hormel Foods Corporation; JBS USA; National Beef Packing Company, LLC; Vion Nutrient Grouping; Australian Agricultural Company Limited
Customization scope	Free report customization (equivalent up to viii analysts working days) with purchase. Addition or alteration to land, regional & segment telescopic.
Pricing and purchase options	Avail customized buy options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This written report forecasts acquirement growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, Chiliad View Enquiry has segmented the global beef market study based on cut, slaughter method, and region:

• Cut Outlook (Volume, Kilotons; Revenue, USD Meg, 2014 - 2025)

  • Brisket

  • Shank

  • Loin

  • Others

• Slaughter Method Outlook (Volume, Kilotons; Revenue, USD 1000000, 2014 - 2025)

  • Kosher

  • Halal

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Russia

    • Switzerland

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • CSA

    • Brazil

    • Argentina

    • Colombia

  • MEA

Oftentimes Asked Questions About This Report

b. The global beef market size was estimated at USD 323.92 billion in 2019 and is expected to reach USD 332.49 billion in 2020.

b. The global beef market is expected to abound at a compound annual growth rate of iii.1% from 2017 to 2025 to reach USD 383.46 billion by 2025.

b. Halal certified beef dominated the beefiness market with a share of eighteen.8% in 2019. This is attributed to the Increasing Islamic population around the globe since Islam prohibits the consumption of pork, beef has emerged as one of the most preferred forms of meat in these countries.

b. Some key players operating in the beefiness market include Tyson Foods, Inc.; Danish Crown; Cargill, Incorporated; Marfrig Global Foods S.A.; NH Foods Ltd.; NH Foods Ltd.; St Helen'southward Meat Packers; Hormel Foods Corporation; JBS USA; National Beef Packing Company, LLC; Vion Food Group; and Australian Agronomical Visitor Limited.

b. Key factors that are driving the market growth include ascent in population, increasing consumer dispensable income, and emergence of beefiness as a central source of protein.

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Source: https://www.grandviewresearch.com/industry-analysis/beef-market-analysis#:~:text=The%20global%20beef%20market%20size%20was%20estimated%20at%20USD%20323.92,USD%20383.46%20billion%20by%202025.

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