New York, United States, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The global beef market encompasses the production, distribution, and consumption of beef, which continues to be a vital source of protein in numerous cultures and diets. Beef is derived from fully grown cattle, typically around two years old. A live steer generally weighs about 1,000 pounds, yielding approximately 450 pounds of edible meat.
While there are over 50 recognized breeds of beef cattle, fewer than ten dominate the majority of production. Notable breeds include Angus, Hereford, Charolais, and Brahman, each known for distinct qualities that contribute to beef flavor, texture, and overall quality.
The dynamics of the global beef market are influenced by various factors, including population growth and urbanization, which increase the demand for protein-rich foods. Rising disposable incomes, particularly in developing countries.
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Market Dynamics
Growing global population and urbanization drive the global market
The global population is on track to reach approximately 9.7 billion by 2050, leading to a surge in food demand, particularly for protein sources like beef. Urbanization significantly influences this trend, as individuals in urban areas typically enjoy higher disposable incomes and greater exposure to global food trends, which often translate into increased consumption of animal protein, including beef.
In developing countries, rapid urbanization is driving a shift in dietary preferences toward Western-style diets that emphasize higher meat consumption. For example, beef consumption in China and Southeast Asia is outpacing pork and poultry consumption, reflecting the economic development and urban growth in these regions.
This shift is further propelled by the expanding food service industry, where the demand for beef products, especially in fast-food chains and restaurants, is witnessing a notable surge.
Sustainability and ethical sourcing create tremendous opportunities
Sustainability has emerged as a critical trend within the beef industry as consumers, governments, and environmental organizations increasingly scrutinize the environmental impact of beef production. Known for its contributions to deforestation, greenhouse gas emissions, and high water usage, the beef sector is responding by adopting more sustainable practices.
These include rotational grazing, enhancing feed efficiency, and implementing regenerative agricultural techniques that restore soil health and sequester carbon.
- Certifications such as “grass-fed,” “organic,” and “certified humane” are gaining traction, providing consumers with assurances that the beef they purchase is sourced from farms committed to ethical and environmentally friendly practices.
This growing focus on sustainability not only meets consumer demand but also presents tremendous opportunities for beef producers who prioritize environmentally responsible operations.
Regional Analysis
The United States stands out as the world’s largest producer and consumer of beef, playing a pivotal role in the global supply and demand dynamics. Several factors contribute to North America's dominance in this sector. First, the region benefits from a well-established cattle farming infrastructure, characterized by advanced feedlots and sustainable practices that enhance production efficiency. This allows producers to maintain high output levels while adhering to environmental standards.
Moreover, beef serves as a staple protein source in American diets, with strong consumer demand for premium products such as steaks and burgers driving the market. The culture of beef consumption is deeply ingrained, resulting in consistent year-round demand. In addition to these factors, the presence of vast arable land and natural pastures across the region provides an ideal environment for cattle grazing.
This geographical advantage not only supports the cattle industry's growth but also contributes to the high quality of beef produced in North America.
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Key Highlights
- The global beef market size was valued at USD 430.23 billion in 2024 and is expected to reach USD 714.61 billion in 2033, growing at a CAGR of 5.8% over the forecast period (2025-2033).
- Based on product, the global beef market is segmented into fresh beef and processed beef. The fresh beef segment owns the highest market share.
- Based on cut type, the global beef market is segmented into chuck, rib, loin, sirloin, and others. The loin segment is the largest revenue contributor to the market.
- Based on the slaughter method, the global beef market is segmented into kosher, halal, and others. The halal segment is the largest revenue contributor to the market.
- Based on end-users, the global beef market is segmented into household/retail, the service industry, and others. The food service segment is the largest revenue contributor to the market.
- Based on distribution channels, the global beef market is segmented into supermarkets/hypermarkets, convenience stores, online retail, specialty meat stores, and others. The supermarkets/hypermarkets segment is the largest revenue contributor to the market.
- North America is the most significant global beef market
Competitive Players
- JBS S.A.
- Tyson Foods, Inc.
- Cargill, Inc.
- BRF S.A.
- Marfrig Global Foods S.A.
- National Beef Packing Company, LLC
- Hormel Foods Corporation
- Minerva Foods
- Smithfield Foods, Inc.
- Vion Food Group
- Danish Crown
- Australian Agricultural Company (AACo)
- Nippon Ham Foods Ltd.
- Omaha Steaks International, Inc.
- Central Valley Meat
Recent Development
- In August 2024, Central Valley Meat announced the completion of an acquisition agreement made in May for the Cargill Meat Solutions beef processing facility located on North Avenue, just west of Highway 41. This strategic acquisition aims to enhance Central Valley Meat's processing capabilities and increase its operational efficiency in the competitive meat market.
Segmentation
- By Product
- Fresh Beef
- Processed Beef
- By Cut Type
- Chuck
- Rib
- Loin
- Sirloin
- Others
- By Slaughter Method
- Kosher
- Halal
- Others
- By End Use
- Household/Retail
- Foodservice Industry
- Others
- By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Meat Stores
- Others
- By Region
- North America
- Europe
- Latin America
- APAC
- Middle East and Africa
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