Newark, Nov. 29, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the beef market is growing at a CAGR of 4.7% from 2022-2030. The increasing consumption of ready-to-eat beef products is expected to drive market growth. Additionally, the growing popularity of halal and kosher beef among consumers is likely to propel the market growth.
The rising demand for grass-fed beef in various regions is expected to create favorable opportunities for new entrants in the beef market. The rising demand in Argentina, Brazil, and African countries is expected to create favorable opportunities for new entrants. The demand for beef is expected to remain high in the Middle East due to a predominantly Muslim population.
Furthermore, several organizations are offering opportunities for small-scale and local beef producers to grow in the beef industry. For instance, USDA introduced a Grass Fed Program for small beef farmers to help them certify that their animals meet the requirements of the grass-fed marketing claim standard and make their products eligible for labeled as “USDA Certified Grass Fed Beef”. This initiative will help beef producers gain consumers' trust’ and will likely favor the growth of the market.
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With this increase in the Muslim population, the demand for halal-certified meat and processed meat has been rising. Moreover, the concept of halal is no longer confined to the Muslim population and has significant market potential even among non-Muslims. Several people with other religious beliefs choose to eat halal food owing to the specific perception of its healthiness.
The beef market has several well-established players, with some companies procuring meat from farmers while others have their slaughterhouses. Companies such as Tyson Foods, Inc. obtain beef from independent farmers who raise cattle in a healthy and hygienic environment. The obtained beef is processed in the companies’ plants to produce finished products such as sausages, patties, beef burgers, and cured beef for consumer use. Some companies such as Danish Crown, NH Foods Ltd., and Minerva Foods have their slaughterhouses.
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Key Players
1. Hormel Foods Corporation
2. JBS Foods
3. National Beef Packing Company LLC
4. Agri Beef Co.
5. Tyson Foods, Inc.
6. Danish Crown
7. Cargill, Incorporated
8. Strauss Brands LLC
9. Marfrig Global Foods S.A.
10. NH Foods Ltd.
11. AMERICAN FOODS GROUP
12. Minerva Foods
13. Vion Food Group
Market Segmentation
• Slaughter Method Insights
o Kosher
o Halal
o Others
• Cut Insights
o Brisket
o Loin
o Shank
o Others
• Regional Insights
o North America
US
Canada
Mexico
o Europe
UK
Germany
France
Russia
Spain
o Asia Pacific
China
Japan
India
Indonesia
South Korea
o Central and South America
Brazil
Argentina
o Middle East and Africa
South Africa
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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