Beef Market Size, Share, Growth, Price Trends and Industry Outlook Report
by Susan Hill Business ConsultantThe
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.
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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Russia
- Switzerland
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Central and
South America
- Brazil
- Argentina
- Colombia
- Middle East and
Africa
Access full
research report on global beef market:
www.grandviewresearch.com/industry-analysis/beef-market-analysis
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Created on Oct 22nd 2019 09:14. Viewed 376 times.