Beef Market
Market Size:
The global beef market was valued at USD 459.87 billion. It is expected
to grow to USD 484.75 billion in 2025 and reach USD 656.44 billion by 2032,
reflecting a compound annual growth rate (CAGR) of 4.43% over the forecast
period. North America led the market in 2024, accounting for 39.08% of the
total market share.
Fortune Business Insights™ reports that the growing consumer
preference for animal-based protein products is expected to drive market growth
from 2025 to 2032.
List of Key Market Players:
- JBS SA (Brazil)
- National Beef Packing Company, LLC (U.S.)
- American Foods Group, LLC. (U.S.)
- Agri Beef Co. (U.S.)
- Perdue Farms Inc. (U.S.)
- Tyson Foods, Inc. (U.S.)
- Strauss Brands LLC (U.S.)
- Cargill, Incorporated(U.S.)
- Central Valley Meat (U.S.)
- Danish Crown A/S (Denmark)
Segmentation-
The beef market is segmented based on cut type, including ground beef,
roasts, steaks, and other variations. It is further categorized by distribution
channels, such as retail outlets, HoReCa (hotels, restaurants, and cafés), and
butcher shops. Regionally, the market is divided into major areas: Asia
Pacific, North America, Europe, and the Middle East & Africa.
Report Coverage-
The report offers a detailed look at the beef market, focusing on major
companies, different beef cuts, and distribution channels. It also provides
market insights and highlights important industry developments. Additionally,
the report covers other factors that have contributed to the market's growth in
recent years.
Source: https://www.fortunebusinessinsights.com/beef-market-106640
Drivers & Restraints-
Increasing Beef Consumption and Sales to Augment Market Growth Worldwide
The global meat distribution network is rapidly expanding, and this
trend is expected to drive growth in the beef market over the coming years.
Increasing consumer preference for dining out at cafes, hotels, and restaurants
is boosting meat demand within the foodservice sector. Additionally, the rise
of online platforms offering a broad selection of products and attractive
discounts is set to further accelerate the sales of fresh and chilled meat.
On the other hand, growing environmental concerns—particularly regarding
the greenhouse gas emissions linked to animal farming—are encouraging efforts
to reduce meat consumption. As a result, a potential decline in livestock
farming may present challenges to the long-term growth of the beef market.
Beef Market Future Outlook
- Rising Demand: Global demand for
beef is projected to grow, driven by population growth and shifting
dietary preferences, particularly in developing nations.
- Sustainability Concerns: With increasing
awareness of environmental issues, consumers are likely to push for more
sustainable farming practices within the beef industry.
- Technological Advancements: Innovations in
farming technology are expected to enhance production efficiency, helping
meet rising demand while lowering costs and reducing environmental impact.
- Health Trends: The growing focus
on leaner meat options may influence beef production strategies, leading
to a shift in product offerings to align with health-conscious consumer
preferences.
Competitive Landscape-
Key Players Adopt New Growth Strategies to Stay Ahead of the Competition
The global beef market is dominated by a few major corporations, with
companies like Cargill Inc., JBS SA, Tyson Foods Inc., LLC, National Beef
Packing Company, and Danish Crown A/S leading the competition to boost revenue.
To drive market growth, these companies are adopting strategies focused on
product innovation and expanding their manufacturing operations geographically.
In addition, they are working to integrate their supply chains to gain
greater control over production processes. Blockchain technology is being
utilized to monitor cattle health and ensure product safety. Manufacturers are
also focusing on developing innovative solutions to cater to diverse consumer
tastes and preferences across different regions, in response to the growing
demand for unique meat products.
Beef Market Trends
- Rising Demand: Global demand for
beef is on the rise, with consumers increasingly seeking higher-quality
meat, which in turn drives prices upward.
- Health-Conscious Choices: A growing number
of consumers are opting for leaner cuts of beef, influencing the types of
products that are marketed and sold.
- Sustainable Practices: In response to
consumer demand for eco-friendly options, many producers are adopting
sustainable farming methods.
- Price Fluctuations: The beef market is
subject to regular price fluctuations, driven by factors such as weather
conditions, feed costs, and disease outbreaks.
Notable Industry Development-
April 2023 - Aleph Farms, one of the leading cultivated
meat producers, announced plans to launch its brand Aleph Cuts with beef
products, such as Petit Steak. The company was planning to launch these
products in Israel and Singapore.
Beef Market
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