Beef Market - North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Forecast 2022-2026

Beef Market Forecast 2023-2027

The global beef market size is expected to reach a value of USD 43.05 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.82%. A significant driver of growth is the rising demand for meat products. Fresh meat and grass-fed meat dominate the majority share of this demand, with expectations of stable growth throughout the forecast period. However, the market faces challenges including strict government regulations, the increasing popularity of vegan and vegetarian lifestyles, and a growing awareness among consumers.

Overview of the Beef Market

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Global and Regional Market Analysis

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32% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets in APAC. Developing countries such as China and India are experiencing a growing demand, driving market expansion. Market growth in this region will be faster than that of the market in other regions. Exporters plays a significant role in the overall market size, with countries like Brazil, Australia, and the United States being major exporters. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for companies, which will assist in creating efficient business plans. The market size is influenced by the distribution and consumption patterns of the meat derived from these cows, reflecting the industry's economic worth and its impact on the overall market size.

Market Segmentation

By Distribution Channel

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Market Segmentation by Distribution Channel

In the offline distribution channels of the market, cattle-derived products reach consumers through a network of suppliers and retailers. This distribution spans across diverse regions like Australia, Pakistan, Argentina, France, Italy, Japan, and Mexico, meeting the varying preferences of the population for different cuts and steaks. A comprehensive study of these countries' offline distribution channels reveals the intricate dynamics of delivering protein-rich products to consumers, showcasing the global reach and localized strategies employed in the industry.

Market Segmentation by Product Type

Market segmentation by product type plays a pivotal role in catering to the distinct preferences of clients across diverse regions. In the European Union, a nuanced approach is essential due to varied consumer tastes. Thailand and Taiwan exhibit preferences that necessitate unique product offerings. South Africa and Turkey, as import and export hubs, require tailored strategies for market players. Understanding pricing dynamics is crucial in addressing the demands of clients in these regions. Effective segmentation ensures that products align with specific market needs, fostering successful market penetration and long-term client satisfaction in the competitive landscape shaped by import and export dynamics.

Market Dynamics and Customer Landscape

One of the primary drivers shaping the market is the increasing demand from young consumers for animal-based protein products. This demographic segment, with rising disposable income and a penchant for protein-rich diets, contributes significantly to the market's growth trajectory. Furthermore, the foodservice sector, buoyed by the popularity of beef-based dishes and the convenience of ready-to-eat meat products, serves as another vital driver. However, the market faces challenges from growing concerns about the healthfulness of red meat consumption and its potential links to cardiovascular diseases. As a result, there's a noticeable trend towards exploring alternative protein sources, including plant-based proteins, insect proteins, and cultured meat. Companies like Impossible Foods and Beyond Meat are pioneering this shift towards sustainable and ethical alternatives, reflecting evolving dietary habits and a growing consciousness about environmental sustainability in the food industry. Additionally, the beef market is witnessing innovations in ground cuts, fillets, and steaks to cater to diverse consumer preferences and dietary needs, further driving market growth and differentiation. In the last decade, the production industry has seen a positive growth rate. With a focus on market growth and trends, industry players leverage comprehensive market analysis and reports, shaping strategies for sustained growth in this dynamic and evolving sector.

Key Driver

A significant driver for the market is the increasing global demand for meat products, particularly beef. Fresh meat and grass-fed beef hold a substantial portion of this demand, with expectations of steady growth over the forecast period. Regions such as the Asia-Pacific (APAC) and Europe are anticipated to experience positive growth trends, while North America may witness a more moderate consumption rate due to rising health concerns associated with red meat. This trend has led to a substitution of red meat with leaner options like pork and poultry in North America and Western Europe, contributing to increased consumption rates of these alternatives. Among all types of meats, poultry is expected to see the highest consumption rate, with a notable growth trajectory projected for the global market. This increasing demand for beef and other meats underscores the importance of understanding evolving consumer preferences and dietary habits within the food industry.

Future Outlook and Opportunities

The future outlook of the market presents promising opportunities as the industry continues to grow. Regions like Australia, Pakistan, and Argentina contribute significantly to the global market, offering diverse cuts and steaks. As the population demands varied sizes and choices, consumers are increasingly exploring different options. Platforms like beefmarketcentral play a pivotal role in connecting producers and consumers, shaping the landscape. This ongoing expansion reflects a dynamic future for the industry, with ample scope for innovation and catering to evolving consumer preferences.

Key Challenge

The stringent government regulation will be a major challenge during the forecast period. All kinds of processed meats are controlled by standards laid down by authorities across the world. These authorities ensure proper scrutiny and quality checks of products throughout the value chain. Food authorities are responsible for the safety and labelling of processed meat products. They also ensure that the animals are kept under proper sanitary conditions and are in a healthy state. The slaughtering and processing of animals are done under proper inspection. Any meat that is slaughtered without inspection is not eligible for sale.

The need to comply with stringent regulations for processed meat products may restrict the market, as well as the revenue of companies to a certain extent during the forecast period. This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market. The actionable insights on the trends and challenges will help companies evaluate and develop strategies for 2022-2026.

Regulatory Landscape and Trade Policies

The regulatory landscape and trade policies significantly impact the market, influencing competition and industry trends. Governments play a pivotal role in shaping the market outlook through policies that govern production, meat industry standards, and trade statistics. In this dynamic environment, industry players navigate complex regulations surrounding steak production and cow farming. An understanding of the regulatory nuances is vital for stakeholders to anticipate market trends, align production strategies, and maintain a competitive edge in the ever-evolving meat production market.

Key Players in the Industry

The market growth and forecasting report also offers information on several market companies, including Cargill Inc., Danish Crown AS, Hormel Foods Corp., JBS SA, Marfrig Global Foods SA, Minerva Foods SA, NH Foods Ltd., St. Helens Meat Packers Ltd, Tyson Foods Inc., and Vion Holding NV among others.

Cargill Inc. - The company offers boxed, ground, and case-ready beef. 

Market Analyst Overview

The Market is influenced by diverse factors, including Halal beef for the Islamic population and Kosher beef for the Jewish population, adhering to Islamic laws and Jewish dietary laws. It's also affected by Health consciousness regarding Animal-sourced protein and Dietary habits. In the U.S beef market, consumer preferences drive the demand for various cuts like Burgers, Hotdogs, and Fillets & steaks in Cafes and Restaurants.

In regions like Latin America and Asia Pacific, the market sees a rise in Convenience foods for Middle-class consumers. Ready-to-eat meat products cater to busy lifestyles. The market also considers Sustainable practices and Alternative proteins like Plant-based proteins, Insect proteins, and Cultured meat to address Environmental impact and Animal welfare concerns. Companies like Impossible Foods and Beyond Meat are driving innovation, while Merger and acquisition activities reshape the market's Geographic reach and Territories.

Additionally, consumer health concerns are influencing purchasing decisions, with a growing focus on the nutritional content of beef products. Consumers are increasingly seeking leaner cuts of beef with lower fat and calorie content, prioritizing protein value and overall health benefits. This trend is reshaping the beef industry landscape, leading to the development of healthier beef options and the promotion of sustainable farming practices. Moreover, technological advancements in farming methods, such as grazing management and feed efficiency, are contributing to more environmentally friendly beef production processes, aligning with evolving consumer preferences for ethically sourced and environmentally sustainable products.

Manufacturers producing Halal products must consider various factors, including the sourcing of trachea, esophagus, and throat. This is particularly relevant in the Kosher beef industry, where adherence to religious dietary laws is paramount. These considerations extend to other food items, taking into account natural causes and flaws that may affect product quality.

In the U.S. beef market, sausages and stews are popular choices, reflecting regional preferences. In the Asia Pacific regions, market concentration varies, with certain characteristics influenced by globalization trends. The emergence of 'bloody' meatless burgers and cell-based steaks from start-ups introduces new textures and environmental impacts compared to traditional animal-sourced proteins.

With the rise of lab-grown meat and plant-based substitutes, genetic engineering plays a role in enhancing traits such as disease resistance and growth rates. This shift reflects changing dietary preferences and environmental considerations. Plant-based meat alternatives utilizing soy, peas, and wheat gluten cater to vegetarians and vegans while providing competitive benchmarking against animal-derived products.

Historical data and forecasts on company revenue shares reflect the latest trends, including the popularity of loin cuts and revenue shares in the meat industry. Animal-sourced proteins offer essential nutrients, with dry aging contributing to tender, flavorful cuts, particularly in the juiciest sections like the brisket segment. Connective tissues and a low and slow cooking process contribute to the coarse-grained texture characteristic of premium meat products.

Beef Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.82%
Market growth 2022-2026	USD 43.05 billion
Market structure	Fragmented
YoY growth (%)	3.14
Regional analysis	North America, APAC, Europe, South America, and MEA
Performing market contribution	APAC at 32%
Key countries	US, China, Brazil, Spain, and India
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Cargill Inc., Danish Crown AS, Hormel Foods Corp., JBS SA, Marfrig Global Foods SA, Minerva Foods SA, NH Foods Ltd., St. Helens Meat Packers Ltd, Tyson Foods Inc., and Vion Holding NV
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, market trends and analysis, COVID 19 impact and recovery analysis and future consumer dynamics, market research and growth,Market forecasting, Market condition analysis for forecast period
Customization purview	If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market forecast.
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the market industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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