The global beef market size is expected to reach USD 383.5 billion by 2025,
according to a new report by Grand View Research, Inc., exhibiting a 3.1% CAGR
during the forecast period. Growing awareness regarding beef as a major source
of protein is expected to drive the market.
Beef and veal have higher protein content
compared to chicken, pork, turkey, and lamb. Surging awareness associated with
consumption of protein through high nutritional food is gaining importance
among people. Meat eaters in U.S. prefer beef over other meats owing to various
diseases associated with poultry and pork. These factors have been aiding
market growth.
High demand from China, supported by
increasing disposable income, is also anticipated to drive beef consumption
over the forecast period. Favorable government initiatives pertaining to the
food industry will remain an important growth factor. Recently, the government
of China lifted the ban on Australian chilled and frozen food. It is expected
that the government will also lift the Brazilian imports ban over the coming
years. However, health hazards associated with consumption of meat and higher
prices of beef compared to other forms of meat can critically impact market
growth.
U.S. is one of the largest producers of
beef in the global market. In the last six years, the country has seen
significant imports of chilled grass beef. Demand from restaurant chains such
as Burger King and McDonald’s is also expected to contribute to the growth of
the U.S. market.
Rise in Islamic population will trigger
demand for halal beef over the forecast period. Limited supply of cattle in
certain countries can lead to increase in product prices, creating imbalance in
the value chain. Safety and quality benefits associated with kosher beef will
trigger demand in the North America region. Enhancement in slaughtering
techniques and improvement in animal feed technology are projected to create
opportunities for various market participants in the value chain.
Access Research Report of Beef Market@ https://www.grandviewresearch.com/industry-analysis/beef-market-analysis
Further key findings from the report suggest:
· The other cuts segment dominated the global
market with a revenue share of 54.7% in 2017, mainly due to increasing demand
for ribs, round, chuck, plate, and flank
· Loin cut is expected to be the fastest
growing segment, registering a CAGR of 3.5% from 2017 to 2025
· In terms of volume, the halal slaughter
method is projected to expand at a CAGR of 2.7% over the forecast period
· In terms of volume, North America is
projected to witness a steady CAGR of 2.5% over the forecast period. Awareness
associated with grass-fed beef is anticipated to contribute to market growth
· Some of the key companies in the market are
Tyson Foods, Inc.; Danish Crown; Cargil, Incorporated; Marfrig Global Foods
S.A.; and NH Foods Ltd.
Grand View Research has segmented the
global beef market on the basis of cut, slaughter method, and region:
Beef Cut Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
Brisket
·
Shank
·
Loin
·
Others
Beef Slaughter Method Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Kosher
·
Halal
·
Others
Beef Regional Outlook (Volume, Kilotons;
Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
Russia
o
Switzerland
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia
o
South Korea
·
Central and South America
o
Brazil
o
Argentina
o
Colombia
·
Middle East and Africa
About
Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
