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Global Beef Market Size, Share, Growth, Forecast: By Cut: Shank, Brisket, Loin, Others; By Slaughter Method: Kosher, Halal, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Beef Market Outlook
The global beef market reached an approximate value of USD 432.30 billion in 2023. The market is estimated to grow at a CAGR of 4.80% between 2024 and 2032, reaching a value of nearly USD 659.23 billion by 2032.
Key Trends in the Market
Beef is a culinary term used for meat obtained from cattle. It boasts an abundance of protein, essential vitamins, and minerals, most notably iron and zinc. This protein source falls under the category of red meat as it is derived from mammals, and it is known to possess higher iron content compared to chicken or fish.
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- The growing disposable income is a major factor augmenting the beef market demand. Rapid economic development and lifestyle changes have significantly increased the demand for meat products, including beef, especially among the middle class.
- Advancements in technology and precision agriculture have revolutionised the beef production process. Precision breeding techniques, such as genetic selection and artificial insemination, have allowed producers to enhance the quality and productivity of their herds. Furthermore, digital tools and data analytics are being employed to optimise feed efficiency, monitor animal health, and improve overall production management.
- The surging demand for natural and antibiotic-free animal products is one of the major beef market trends. People are increasingly becoming sceptical about consuming meat with additives and growth enhancers. As a result, there is a growing preference among consumers for natural meat products, leading to a rapid increase in the demand for antibiotic-free beef.
- In addition, the growing awareness of animal welfare among consumers is another trend propelling the market growth. There is a significant shift in consumer preference towards organic and ethically sourced beef.
Market Analysis
Based on cut, the market is segmented into shank, brisket, and loin, among others. On the basis of slaughter method, the market can be divided into kosher and halal, among others. The major regional markets for beef are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global beef market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Tyson Foods, Inc
- Danish Crown A/S
- Perdue Farms Inc
- Agri Beef Co.
- National Beef Packing Company, LLC
- Minerva S.A
- JBS SA
- St. Helen's Meat Packers Limited
- Vion N.V
- Australian Agricultural Company Limited
- Others
Market Share by Cut
During the forecast period, the ground cut segment is expected to hold a significant market share in the global beef market. Ground-cut beef refers to meat that has been finely minced or ground, and it has gained popularity due to its versatility and affordability. Compared to other cuts of beef, the ground cut one offers a cost-effective option, making it accessible and affordable for individuals across different economic sections.
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Market Share by Region
North America stands out as one of the largest consumers in the global beef market. Beef plays a significant role in the culinary traditions of countries like Canada and the United States. During festive seasons, consumers in North America indulge in a diverse range of beef cuts, including steaks and roasts. Consequently, major meat manufacturers in the region strive to introduce innovative beef cuts to meet the evolving demands of different consumer segments.
Competitive Landscape
Tyson Foods, Inc is one of the largest food companies engaged in the production, processing, and marketing of chicken, beef, pork, and prepared food products. It is a multinational company founded in 1935 and it is currently headquartered in Arkansas, the United States. It offers a wide range of products, including fresh and frozen chicken, beef, pork, and processed food items.
Danish Crown A/S is a Danish meat processing company with a global presence. It was founded in 1887 and is headquartered in Randers, Denmark. With a firm footing in the food and agriculture sector, Danish Crown specialises in the intricate art of producing, processing, and distributing pork and beef products. Danish Crown works closely with these farmers to ensure a sustainable and high-quality supply of livestock for its operations.
Perdue Farms Inc is a prominent player in the food and agriculture sector, established as a privately-owned, family-operated company. It is one of the largest poultry producers in the United States. Established back in 1920, Perdue Farms is currently headquartered in Maryland, the US. With a commitment to excellence, the company caters to a diverse clientele and distributes its wide range of products across the United States and the world.
Other market players include Agri Beef Co., National Beef Packing Company, LLC, Minerva S.A, JBS SA, St. Helen's Meat Packers Limited, Vion N.V, and Australian Agricultural Company Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Cut |
|
| Breakup by Slaughter Method |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Beef Market Analysis
8.1 Key Industry Highlights
8.2 Global Beef Historical Market (2018-2023)
8.3 Global Beef Market Forecast (2024-2032)
8.4 Global Beef Market by Cut
8.4.1 Shank
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Brisket
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Loin
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Beef Market by Slaughter Method
8.5.1 Kosher
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Halal
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Beef Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Beef Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Beef Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Beef Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Beef Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Beef Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code -02102)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Tyson Foods, Inc
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Danish Crown A/S
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Perdue Farms Inc
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Agri Beef Co.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 National Beef Packing Company, LLC
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Minerva S.A
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 JBS SA
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 St. Helen's Meat Packers Limited
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Vion N.V
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Australian Agricultural Company Limited
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Beef Market: Key Industry Highlights, 2018 and 2032
2. Global Beef Historical Market: Breakup by Cut (USD Billion), 2018-2023
3. Global Beef Market Forecast: Breakup by Cut (USD Billion), 2024-2032
4. Global Beef Historical Market: Breakup by Slaughter Method (USD Billion), 2018-2023
5. Global Beef Market Forecast: Breakup by Slaughter Method (USD Billion), 2024-2032
6. Global Beef Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Beef Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Beef Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Beef Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Beef Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Beef Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Beef Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Beef Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Beef Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Beef Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Beef Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Beef Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Major Importing Countries by Volume
19. Major Exporting Countries by Volume
20. Major Importing Countries by Value
21. Major Exporting Countries by Value
22. Global Beef Market Structure
Key Questions Answered in the Report
In 2023, the market reached a value of about USD 432.30 billion.
The market is assessed to grow at a CAGR of 4.80% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 659.23 billion by 2032.
The major factors driving the market growth include technological advancements to enhance beef production and quality and the growing disposable incomes of consumers.
The market development is guided by the increasing demand for organic and antibiotic-free beef products and the growing awareness about animal welfare, promoting ethically obtained beef.
The major regional markets for beef include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various slaughter methods of beef include kosher and halal, among others.
The key players in the beef market include Tyson Foods, Inc, Danish Crown A/S, Perdue Farms Inc, Agri Beef Co., National Beef Packing Company, LLC, Minerva S.A, JBS SA, St. Helen's Meat Packers Limited, Vion N.V, and Australian Agricultural Company Limited, among others.
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