Global Beef Market Forecast Report By Consuming Countries (United States, China, Brazil, European Union, India, Argentina, Mexico, Russia, Japan, United Kingdom, Canada, Others), Producing Countries (United States, Brazil, China, European Union, India, Argentina, Australia, Mexico, Russia, Canada, South Africa, Others), Importing countries, Exporting Countries and Company Analysis 2024-2032

Driving Forces of Global Beef Market

Changing Consumer Preferences

The worldwide beef market is growing as a result of shifting customer tastes. There's a discernible movement in dietary habits and lifestyles toward consuming more protein, with beef emerging as a favorite because of its flavor, nutritional makeup, and adaptability in the kitchen. A growing number of health-conscious consumers are also aware of beef's high protein content and nutrient density, which helps it fit in with their wellness and fitness objectives.

In addition, regional variations in cuisine and cultural influences add to the growing demand for beef. The acceptance of beef-centric dishes in a variety of cuisines has resulted from the globalization of culinary culture, further increasing beef consumption. Furthermore, beef-based convenience and ready-to-eat products appeal to customers looking for quick, wholesome meal options since they accommodate busy lives.

Retail and Foodservice Trends shaping the growth

Trends in retail and foodservice play a major role in determining how the global beef market expands. The globalization of e-commerce and supermarket chains has improved beef product accessibility in the retail sector. In an effort to provide customers more convenience and options, these establishments frequently provide a range of cuts and packing choices.

Similar to this, because of its flavor profile and adaptability in menu options, beef continues to be a staple protein in the foodservice industry, which includes eateries, fast-food franchises, and catering services. The demand for premium beef cuts and gourmet preparations has increased due to trends toward upscale dining establishments and rising consumer expenditures on eating out.

Additionally, the popularity of foreign cuisines and changing culinary tastes have spurred innovation in beef-based dishes across the foodservice industries, changing consumer attitudes and promoting experimentation with various cooking techniques.

Income Levels and Urbanization

Urbanization and income levels are two major factors driving the global beef market's rise. Consumers prefer to consume more foods high in protein, like beef, as economies grow and wages rise, especially in emerging areas. Urbanization is important because it concentrates people in cities, where supermarkets, eateries, and foodservice establishments provide easier access to an extensive variety of food goods, including beef.

Increased demand for premium beef products can be attributed to consumers being able to afford more expensive gourmet preparations and higher-quality beef cuts. Furthermore, convenience is a top priority in urban living, which raises the use of processed and ready-to-eat beef products.

North America Beef Market

Due to the existence of strong and efficient infrastructure, including advanced processing centers and transportation networks, as well as intellectual know-how on topics like genetics, meat quality, and intellectual property rights, the North American market is anticipated to grow at a substantial compound annual growth rate (CAGR) through 2032. The world's largest producer of beef for both domestic and international markets is North America. Most beef cattle are fed grass at some time in their lives, even though grasslands are the most vulnerable terrestrial ecosystem in North America, primarily because of market and climatic pressures.

United States Beef Market

The United States beef market is one of the largest and most promising globally, consumption of beef and products based on it remains at a high level due to consumer preferences. Beef is one of the most important products of the country and there are producers who maintain large commercial farms up to the specialty ranch operations. This is due to factors such as evolution of customers’ demand towards higher quality grass fed and organic meat and general trends of leaning towards more protein products. The market for beef consumer products in United States is greatly varied with most common items being ground beef, steaks and processed meat products. The food industry hence plays an important role in the demand for beef, most especially restaurants and food service outlet since they have many menus which include beef. However, change in techniques of production and sustainable practices is forecasting the future of beef industry in the United States.

European Beef Market

European beef market has being making a waves due to it product differentiation; where different countries show an expressed difference in production and consumption of the beef product. The primary countries that produced beef in large quantity in the EU countries include France, Germany, Spain and Italy. The market is shifted by customer expectations as to the food production quality and environmentally friendly products with lean towards organic and grass-fed beef. For the last few years, animal farming experience a great revolution in the direction of slow and sustainable method with ethical issues of consumers. Consequently, most of the European states have enacted strict legal measures in relation to beef production as well as its classification. Supermarkets and specialized butchers are the most important channel for the beef market, while hypermarkets and supermarkets are responsible for the largest volume of sales. However the market has got a number of barriers like the rising feed costs, trade barriers and competition from other protein sources. Even so, future market developments over the coming years appear decidedly less problematic with greater innovation in delivering quality European beef produced through sustainable methods.

Middle East Beef Market

Middle East beef market continues to grow due to high population demand for quality beef products and shift in consumers’ preferences. Saudi Arabia, the UAE and Iran are some of the key consumers of beef in the gulf region and the use of imported beef to cater for consumption in the countries is gradually rising. The market comprises of the old and new retail outlets such as butcher’s shops and supermarkets respectively. Also, increased disposable per capita income and rising urban population are changing the consumption pattern from low-end beef products to value addition products.

Global Beef Company Analysis

The key players in beef industry are JBS S.A, Tyson Foods, Pilgrim's pride corporation, Danish crown group, Vion Food Group, WH Group, Hormel Foods Corporation and Muyuan Foods.

Global Beef Company News

February 2022 — The largest annual food and beverage trade fair in the world, Gulfood 2022, took place in Dubai (UAE), where JBS made a presentation. The best-selling Brazilian beef brand under JBS, Friboi, gave guests a chance to try out the 1953 and Black Friboi ranges. With only 1% of the cattle meeting the selection criterion, Black Friboi is the brand's most premium halal portfolio, sourced from the best genetic Black Angus in the United States.

July 2021 — Israel-based cultured meat startup Aleph Farms raised a total of USD 119.4 million in fundraising with the USD 105 million Series B investment round. The company intended to use this funding to extend its product lines and tech platform, scale up production facilities, and build overseas operations in anticipation of a 2022 product launch.

Consuming Countries – Market breakup in 12 viewpoints:

1. United States
2. China
3. Brazil
4. European Union
5. India
6. Argentina
7. Mexico
8. Russia
9. Japan
10. United Kingdom
11. Canada
12. Others

Producing Countries – Market breakup in 12 viewpoints:

1. United States
2. Brazil
3. China
4. European Union
5. India
6. Argentina
7. Australia
8. Mexico
9. Russia
10. Canada
11. South Africa
12. Others

Importing Countries – Market breakup in 10 viewpoints:

1. China
2. United States
3. Japan
4. South Korea
5. United Kingdom
6. European Union
7. Chile
8. Malaysia
9. Russia
10. Canada

Exporting Countries – Market breakup in 10 viewpoints:

1. Brazil
2. Australia
3. India
4. United States
5. Argentina
6. New Zealand
7. European Union
8. Canada
9. Uruguay
10. Mexico

All the key players have been covered from 3 Viewpoints:

•    Business Overview
•    Recent Development
•    Revenue Analysis

Key Players Analysis:

1. JBS S.A
2. Tyson Foods
3. Pilgrim's pride corporation
4. Danish crown group
5. Vion Food Group
6. WH Group
7. Hormel Foods Corporation
8. Muyuan Foods

Report Details: