Beef Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Beef Market
The Beef Market size was valued at USD 436.60 billion in 2023, and the market is now projected to grow from USD 459.87 billion in 2024 to USD 656.44 billion by 2032, exhibiting a CAGR of 5.52% during the forecast period of 2024-2032.
The COVID-19 has affected the Beef market very bad, as it has stopped the production and supply of the market. Raw materials needed for meat were not able to delivered due restrictions in pandemic. This disruption has led to a shortage of animal feed materials, ultimately increased the cost of farm owners and impacting the overall production. Meat processing industries were shut down just like others or have to work with reduced capacity due to spreading virus on humans and limited options for selling animals. This has impacted the Beef Market Growth and reduced the revenue for farm owners as well. Overall cattle prices were on peak, as the animal production and slaughtering faced decline.
The market is shifting towards online processes. Be it industries or customers everyone wants to move in the clouds. This rising popularity of online shopping or channels is boosting the sales of fresh and chilled products. The customers are loving the fresh and wide variety of products with discounted offer at their doorstep. Customers are preferring healthy and fresh products as they are aware about the benefit they will get from this. This has increased the meat sales and eventually rising the Beef Market Share. Various channels such as supermarket, hypermarkets, specialty stores, and online retailers, are offering wide range of meat cuts with the assurance of authenticity. The growing trend of e-commerce has driven the sales through online stores. With the privilege of home delivery for any product, these online channels are taking care of product safety and quality as sellers, convincing customers to shift towards the online market.
Countries like U.S. has high disposable incomes and a premium preference, which is driving the demand for high-quality beef specially labeled with certifications such as Certified Angus Beef (CAB), USDA Choice, USDA Natural, and USDA Prime. These labels are the sign of strict quality standards. Demand for premium beef is rising, as consumers are checking the certified sign in the brands serving food, as a result Certified Angus Beef Brand reported a 2.4% increase in food service sales in 2022. Consumers are aware of dangerous associated with meat products containing growth-enhancing hormones and antibiotics, this has led to rise in demand for natural meat products such as 100% grass-fed organic offerings from companies such as Raise American in the U.S.
Comprehensive Analysis of Beef Market
The Beef Market and Food & Beverages industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the food management industry. These segmentations are methodically segregated By Cut Type Analysis and By Distribution Channel Analysis. The types of cut include, Ground, Roasts, Steaks,& Others. However, the distribution channels includes Retail Sales, HoReCa, & Butcher Shops.
North America’s maximum customer base is eating meat and making the region biggest consumer of beef all around the world, specially in Canada and U.S. In this region consumers enjoy wide range of cuts, like steaks and roasts, especially during festive times. The presence of market giants such as Tyson Foods and Cargill is also driving the sales up as they always work on new cuts to meet different consumer demands. Meat based fast foods such as burgers and hotdogs are very popular among consumers also boosting the sales up.
The top players in the market play a crucial role in the food & beverage industry assuring industrial prospectus growth and setting market standards. These players include, 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), these market players provide a level-playing competitive landscape.
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.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.52% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Cut Type
Ground
Roasts
Steaks
Others
By Distribution Channel
Retail Sales
HoReCa
Butcher Shops
By Geography
North America (By Cut Type, By Distribution Channel, and By Country)
- U.S. (By Distribution Channel)
- Canada (By Distribution Channel)
- Mexico (By Distribution Channel)
Europe (By Cut Type, By Distribution Channel, and By Country)
- France (By Distribution Channel)
- Germany (By Distribution Channel)
- Italy (By Distribution Channel)
- Spain (By Distribution Channel)
- U.K. (By Distribution Channel)
- Rest of Europe (By Distribution Channel)
Asia Pacific (By Cut Type, By Distribution Channel, and By Country)
- China (By Distribution Channel)
- India (By Distribution Channel)
- Japan (By Distribution Channel)
- Australia (By Distribution Channel)
- Rest of Asia Pacific (By Distribution Channel)
South America (By Cut Type, By Distribution Channel, and By Country)
- Brazil (By Distribution Channel)
- Argentina (By Distribution Channel)
- Rest of South America (By Distribution Channel)
The Middle East & Africa (By Cut Type, By Distribution Channel, and By Country)
- South Africa (By Distribution Channel)
- Turkey (By Distribution Channel)
- Rest of Middle East and Africa (By Distribution Channel)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Regulatory Analysis
- 4.3. Technological Innovations in the Beef Industry
- 4.4. Recent Industry Developments – Mergers & Acquisitions, Partnerships, & New Product Launches
- 4.5. Impact of COVID-19 on the Market
- 5. Global Beef Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Cut Type
- 5.2.1.1. Ground
- 5.2.1.2. Roasts
- 5.2.1.3. Steaks
- 5.2.1.4. Others
- 5.2.2. By Distribution Channel
- 5.2.2.1. Retail Sales
- 5.2.2.2. HoReCa
- 5.2.2.3. Butcher Shops
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Beef Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Cut Type
- 6.2.1.1. Ground
- 6.2.1.2. Roasts
- 6.2.1.3. Steaks
- 6.2.1.4. Others
- 6.2.2. By Distribution Channel
- 6.2.2.1. Retail Sales
- 6.2.2.2. HoReCa
- 6.2.2.3. Butcher Shops
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S.
- 6.2.3.1.1. By Distribution Channel
- 6.2.3.1.1.1. Retail Sales
- 6.2.3.1.1.2. HoReCa
- 6.2.3.1.1.3. Butcher Shops
- 6.2.3.2. Canada
- 6.2.3.2.1. By Distribution Channel
- 6.2.3.2.1.1. Retail Sales
- 6.2.3.2.1.2. HoReCa
- 6.2.3.2.1.3. Butcher Shops
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Distribution Channel
- 6.2.3.3.1.1. Retail Sales
- 6.2.3.3.1.2. HoReCa
- 6.2.3.3.1.3. Butcher Shops
- 7. Europe Beef Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Cut Type
- 7.2.1.1. Ground
- 7.2.1.2. Roasts
- 7.2.1.3. Steaks
- 7.2.1.4. Others
- 7.2.2. By Distribution Channel
- 7.2.2.1. Retail Sales
- 7.2.2.2. HoReCa
- 7.2.2.3. Butcher Shops
- 7.2.3. By Country (Value)
- 7.2.3.1. France
- 7.2.3.1.1. By Distribution Channel
- 7.2.3.1.1.1. Retail Sales
- 7.2.3.1.1.2. HoReCa
- 7.2.3.1.1.3. Butcher Shops
- 7.2.3.2. Germany
- 7.2.3.2.1. By Distribution Channel
- 7.2.3.2.1.1. Retail Sales
- 7.2.3.2.1.2. HoReCa
- 7.2.3.2.1.3. Butcher Shops
- 7.2.3.3. Italy
- 7.2.3.3.1. By Distribution Channel
- 7.2.3.3.1.1. Retail Sales
- 7.2.3.3.1.2. HoReCa
- 7.2.3.3.1.3. Butcher Shops
- 7.2.3.4. Spain
- 7.2.3.4.1. By Distribution Channel
- 7.2.3.4.1.1. Retail Sales
- 7.2.3.4.1.2. HoReCa
- 7.2.3.4.1.3. Butcher Shops
- 7.2.3.5. U.K.
- 7.2.3.5.1. By Distribution Channel
- 7.2.3.5.1.1. Retail Sales
- 7.2.3.5.1.2. HoReCa
- 7.2.3.5.1.3. Butcher Shops
- 7.2.3.6. Rest of Europe
- 7.2.3.6.1. By Distribution Channel
- 7.2.3.6.1.1. Retail Sales
- 7.2.3.6.1.2. HoReCa
- 7.2.3.6.1.3. Butcher Shops
- 8. Asia Pacific Beef Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Cut Type
- 8.2.1.1. Ground
- 8.2.1.2. Roasts
- 8.2.1.3. Steaks
- 8.2.1.4. Others
- 8.2.2. By Distribution Channel
- 8.2.2.1. Retail Sales
- 8.2.2.2. HoReCa
- 8.2.2.3. Butcher Shops
- 8.2.3. By Country (Value)
- 8.2.3.1. China
- 8.2.3.1.1. By Distribution Channel
- 8.2.3.1.1.1. Retail Sales
- 8.2.3.1.1.2. HoReCa
- 8.2.3.1.1.3. Butcher Shops
- 8.2.3.2. India
- 8.2.3.2.1. By Distribution Channel
- 8.2.3.2.1.1. Retail Sales
- 8.2.3.2.1.2. HoReCa
- 8.2.3.2.1.3. Butcher Shops
- 8.2.3.3. Japan
- 8.2.3.3.1. By Distribution Channel
- 8.2.3.3.1.1. Retail Sales
- 8.2.3.3.1.2. HoReCa
- 8.2.3.3.1.3. Butcher Shops
- 8.2.3.4. Australia
- 8.2.3.4.1. By Distribution Channel
- 8.2.3.4.1.1. Retail Sales
- 8.2.3.4.1.2. HoReCa
- 8.2.3.4.1.3. Butcher Shops
- 8.2.3.5. Rest of Asia Pacific
- 8.2.3.5.1. By Distribution Channel
- 8.2.3.5.1.1. Retail Sales
- 8.2.3.5.1.2. HoReCa
- 8.2.3.5.1.3. Butcher Shops
- 9. Butcher Shops South America Beef Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Cut Type
- 9.2.1.1. Ground
- 9.2.1.2. Roasts
- 9.2.1.3. Steaks
- 9.2.1.4. Others
- 9.2.2. By Distribution Channel
- 9.2.2.1. Retail Sales
- 9.2.2.2. HoReCa
- 9.2.2.3. Butcher Shops
- 9.2.3. By Country (Value)
- 9.2.3.1. Brazil
- 9.2.3.1.1. By Distribution Channel
- 9.2.3.1.1.1. Retail Sales
- 9.2.3.1.1.2. HoReCa
- 9.2.3.1.1.3. Butcher Shops
- 9.2.3.2. Argentina
- 9.2.3.2.1. By Distribution Channel
- 9.2.3.2.1.1. Retail Sales
- 9.2.3.2.1.2. HoReCa
- 9.2.3.2.1.3. Butcher Shops
- 9.2.3.3. Rest of South America
- 9.2.3.3.1. By Distribution Channel
- 9.2.3.3.1.1. Retail Sales
- 9.2.3.3.1.2. HoReCa
- 9.2.3.3.1.3. Butcher Shops
- 10. Middle East & Africa Beef Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Cut Type
- 10.2.1.1. Ground
- 10.2.1.2. Roasts
- 10.2.1.3. Steaks
- 10.2.1.4. Others
- 10.2.2. By Distribution Channel
- 10.2.2.1. Retail Sales
- 10.2.2.2. HoReCa
- 10.2.2.3. Butcher Shops
- 10.2.3. By Country (Value)
- 10.2.3.1. South Africa
- 10.2.3.1.1. By Distribution Channel
- 10.2.3.1.1.1. Retail Sales
- 10.2.3.1.1.2. HoReCa
- 10.2.3.1.1.3. Butcher Shops
- 10.2.3.2. Turkey
- 10.2.3.2.1. By Distribution Channel
- 10.2.3.2.1.1. Retail Sales
- 10.2.3.2.1.2. HoReCa
- 10.2.3.2.1.3. Butcher Shops
- 10.2.3.3. Rest of MEA
- 10.2.3.3.1. By Distribution Channel
- 10.2.3.3.1.1. Retail Sales
- 10.2.3.3.1.2. HoReCa
- 10.2.3.3.1.3. Butcher Shops
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Beef Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
- 12. Company Profiles
- 12.1. JBS SA
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. National Beef Packing Company, LLC
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. American Foods Group, LLC
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Agri Beef Co.
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Perdue Farms Inc.
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Tyson Foods, Inc.
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Cargill, Incorporated
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Strauss Brands LLC.
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Central Valley Meat
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Danish Crown A/S.
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Appendix
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