Global Beef Market Analysis
The global beef market will grow to US$720.58 billion by 2032 from US$500.8 billion in 2023, with an approximate compound annual growth rate of 4.14% between 2024 and 2032. Because of globalization, global consumer food preferences are shifting, and there has been a rise in demand for beef because people are looking for more protein. Therefore, there has been a focus on the quality of meat produced and the convenience of cooking.
Global Beef Market Table of Content and Sample Download: https://www.renub.com/global-beef-market-p.php
Beef outlooks
Beef, which comes from mature bovine animals, is a rich source of essential minerals such as proteins, zinc, selenium, and iron. The presence of selenium contributes to the marbling in beef, which in turn enhances its flavor when used in cooking. During the initial processing, beef is divided into more minor cuts.
The nutritional benefits of beef are extensive, making it a popular choice worldwide due to its high protein content, essential vitamins like B12 and B6, and important minerals such as iron and zinc. It supports muscle growth and repair, boosts the immune system, and maintains healthy skin and hair. In addition to its nutritional value, beef is an integral part of various culinary traditions worldwide, being used in a wide variety of dishes and holding a cherished place in global cuisine.
From an economic perspective, beef consumption and production significantly support agricultural communities and local economies. However, more attention needs to be paid to sustainable practices in beef production to address concerns related to land use rights and greenhouse gas emissions without overlooking the nutritional benefits of beef and the importance of environmental responsibility.
Driving Forces of the Global Beef Market
The combination of increasing population and rising income levels: The global beef market is being propelled by a combination of factors, including the expanding population and notable shifts in income patterns, particularly within emerging economies. As disposable incomes rise, there is a noticeable increase in spending on protein and carbohydrate-rich foods, with beef being a significant part of this trend. This demographic shift can significantly boost the demand for beef products in retail markets and food service establishments. Retail markets benefit from consumers' increased purchasing power, while food service sectors are adapting their menus to align with evolving dietary preferences. Additionally, the processed food industry is adjusting to ensure that beef is incorporated into delicious and convenient products. These trends underscore the importance of beef in addressing nutritional needs and other requirements arising from changes in the world's demographic and economic landscapes.
Urbanization and Changing Dietary Preferences: The increasing urbanization of populations is driving the global shift in dietary patterns. As cities expand, people opt for convenient, protein-rich foods, with beef emerging as a popular choice. The ease of access to diverse food products in urban areas contributes to a rise in beef consumption, including steaks and processed meats. This shift in dietary preferences indicates urbanization's influence on lifestyle choices, as people increasingly recognize the convenience and nutritional benefits of beef. It also underscores the role of meat, particularly beef, as a key source of protein in the diets of a growing urban population.
Exploring Global Opportunities for Trade and Export: International business plays a significant role in the global beef market by enabling the trade of beef products across borders with different production capabilities and consumer demands. Economically vital regions use trade to access extensive markets, boost profitability, and advance their economy through beef exports. On the other hand, import-dependent areas rely on imports to meet domestic demand and support local production, offering various products to maintain their markets. This global trade promotes food security worldwide and fosters economic interdependence and division of labor in the beef industry. An efficient transportation system and liberalized international markets are crucial for managing the continually evolving beef market for exporting and importing countries.
Asian Beef Market
Various factors, including consumer preferences, economic growth, and dietary changes, influence the Asian beef market. As the Asian economy grows, higher incomes and increased exposure to urban lifestyles have increased demand for protein sources such as beef. Key players in this market are countries like China, India, Japan, and South Korea, considered developing countries due to their consumption and production trends. Urbanization has also played a significant role in driving beef consumption, as city-dwellers generally have higher purchasing power and access to a wide range of beef products, including steaks and processed meats. Demographic factors and cultural influences further shape the beef market, affecting global production methods and trade regulations. With increasing globalization, Asia remains a significant hub for importing and exporting beef products, underscoring its pivotal role in the market's expansion.
Global Beef Company Analysis
The key players in the 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, occurred in Dubai (UAE), where JBS presented. The best-selling Brazilian beef brand under JBS, Friboi, allowed guests 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 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.
Relate Reports
Processed Meat Market: https://www.renub.com/processed-meat-market-p.php
Meat Snacks Market: https://www.renub.com/meat-snacks-market-p.php
Global Chicken Market: https://www.renub.com/global-chicken-market-p.php
Plant Based Meat Market: https://www.renub.com/plant-based-meat-market-p.php
Consuming Countries– Market breakup in 12 viewpoints:
- United States
- China
- Brazil
- European Union
- India
- Argentina
- Mexico
- Russia
- Japan
- United Kingdom
- Canada
- Others
Producing Countries– Market breakup in 12 viewpoints:
- United States
- Brazil
- China
- European Union
- India
- Argentina
- Australia
- Mexico
- Russia
- Canada
- South Africa
- Others
Importing Countries– Market breakup in 10 viewpoints:
- China
- United States
- Japan
- South Korea
- United Kingdom
- European Union
- Chile
- Malaysia
- Russia
- Canada
Exporting Countries– Market breakup in 10 viewpoints:
- Brazil
- Australia
- India
- United States
- Argentina
- New Zealand
- European Union
- Canada
- Uruguay
- Mexico
All the key players have been covered from 3 Viewpoints:
- Business Overview
- Recent Development Strategies
- Revenue Analysis
Key Players Analysis:
- JBS S.A
- Tyson Foods
- Pilgrim's pride corporation
- Danish crown group
- Vion Food Group
- WH Group
- Hormel Foods Corporation
- Muyuan Foods
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