According to the report, the beef market was valued at $445.1 billion in 2022, and is estimated to reach $625.8 billion by 2032, growing at a CAGR of 3.5% from 2023 to 2032.
The beef market is a significant sector of the global food industry, characterized by the production and distribution of beef products. It encompasses various segments, including cattle farming, beef processing, and retail sales. Beef is a widely consumed protein source, and market dynamics are influenced by factors such as consumer preferences, dietary trends, and economic conditions. Sustainability and animal welfare concerns are increasingly shaping the market, driving the demand for organic and grass-fed beef. In addition, trade agreements and supply chain management play vital roles in the international beef market's growth and stability.
Beef is rich in protein content, making it a significant source of high-quality protein for consumers worldwide. Beef is renowned for its protein density, with approximately 25 grams of protein per 3.5-ounce (100-gram) serving. This protein content, along with its essential amino acids and nutrients, positions beef as a valuable dietary source for meeting protein needs, muscle development, and overall nutrition, contributing to its popularity in diets worldwide.
The import and export of different beef breeds offer significant opportunities in the global beef market. Exports of specific beef breeds cater to the diverse preferences of international consumers, thus driving the market growth. Importing different breeds can introduce genetic diversity and improve the quality of locally produced beef. Cross-breeding and selective breeding programs can enhance beef yield and quality, thereby expanding market potential. In addition, breed-specific beef exports can open new markets and enhance trade relationships, fostering opportunities for increased beef consumption globally.
Health and nutrition trends have created opportunities in the beef market as consumers increasingly seek protein-rich, nutrient-dense food. Beef is a natural source of essential nutrients such as protein, iron, and vitamins. Innovations in lean cuts and transparency in labeling align with health-conscious consumers' desires for balanced diets. In addition, demand for grass-fed and organic beef, perceived as healthier and more sustainable, has surged. These trends provide avenues for market growth by meeting consumer preferences for nutritious and ethically sourced beef products.
The increasing trend towards nutrient-rich food, driven by a focus on health and well-being, is surging the beef market. Beef is naturally packed with essential nutrients such as protein, iron, zinc, and vitamin B. As consumers seek wholesome, balanced diets, beef's nutritional profile makes it an attractive choice. This trend encourages higher consumption of beef products, supporting market growth and reinforcing beef's position as a valuable protein source in a nutrient-conscious food landscape. As consumers are becoming more health-conscious, they are opting for food that provides more nutrition which is supplied through fish, poultry and meats such as beef.
The proliferation of online meat distribution channels has significantly surged the beef market by offering consumers greater convenience and access to a wider range of beef products. This shift to e-commerce platforms allows consumers to order beef directly, providing a diverse selection, often with detailed information about cuts and sourcing. It also accommodates changing shopping preferences, particularly during the COVID-19 pandemic, fostering a robust online marketplace for beef products and thereby boosting the overall market demand. The increase in distribution channels such as online shopping and retail in countries such as China, has provided meat manufacturers an opportunity to reach more consumers. According to the Food Industry Executive, 61% consumers bought meat online in 2021, and younger generations such as Generation Z, purchase more meat products online.
However, Global factors such as climate change and economical challenges are the primary reasons for increasing prices of beef. The changes in weather and drought in many countries impact the production of resources required for cattle farming such as pasture, hay, and other feed, which consequently affects the supply of cattle. This subsequently reduces the supply and increases the prices on different levels of the supply chain. According to the Bureau of Labor Statistics, U.S., the prices for beef and veal increased by 20.1%, due to labor shortages and increased packaging cost of beef. Agriculture and Horticulture Development Board (AHDB) has also reported decreased beef production in European Union (EU) and was 4.5% lower in the first half of 2023 as compared to 2022, thereby affecting key producing nations such as Italy, Spain, Poland and Ireland. This resulted in increased beef prices and lower consumption.
Global awareness about sustainability has a profound impact on the beef market as consumers are more aware about their food choices and are focusing on reducing their environmental footprint. This has resulted in companies investing heavily in the production processes of beef, for reducing their environmental impact and focusing on organic farming. According to Gallup, Inc., an analytics company, 49% of consumers consider environmental reasons for reducing their meat consumption. As a result, companies are opting for marketing, retail, and sales strategies that meet consumer expectations through maintaining various animal welfare and environmental standards. For instance, Tyson Foods launched Brazen Beef brand, which is a USDA approved climate friendly beef, to strengthen its business position in the market. Consumers are now actively seeking sustainably produced beef, which has led to a rise in demand for cattle raised using eco-friendly methods, reduced antibiotic usage, and adherence to animal welfare standards. As sustainability becomes a key criterion for many consumers, producers implementing such practices have gained a competitive edge, and create opportunities for beef market growth.
The beef market is segmented on the basis of product type, cut type, distribution channel, and region. By product type, the market is classified into loin, chuck, round, brisket, rib, and others. By cut type, the market is segmented into Ground beef, steaks, roasts, cubed, and others. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, retail stores, wholesalers, e-commerce, and others. Region-wise, the market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Russia, Spain, Italy, and Rest of Asia-Pacific), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Europe), and LAMEA (Brazil, Argentina, Chile, South Africa, Egypt, and Rest of LAMEA).
The major players operating in the market focus on key strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have also been focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the online grocery market include American Foods Group, LLC, Leverandørselskabet Danish Crown AmbA, JBS S.A., Tyson Foods, Inc., NH Foods Ltd., Smithfield Foods, Inc, Marfrig Global Foods S.A., Agri Beef Co., Cargill, Incorporated, and The Kroger Co.
The beef market is a significant sector of the global food industry, characterized by the production and distribution of beef products. It encompasses various segments, including cattle farming, beef processing, and retail sales. Beef is a widely consumed protein source, and market dynamics are influenced by factors such as consumer preferences, dietary trends, and economic conditions. Sustainability and animal welfare concerns are increasingly shaping the market, driving the demand for organic and grass-fed beef. In addition, trade agreements and supply chain management play vital roles in the international beef market's growth and stability.
Beef is rich in protein content, making it a significant source of high-quality protein for consumers worldwide. Beef is renowned for its protein density, with approximately 25 grams of protein per 3.5-ounce (100-gram) serving. This protein content, along with its essential amino acids and nutrients, positions beef as a valuable dietary source for meeting protein needs, muscle development, and overall nutrition, contributing to its popularity in diets worldwide.
The import and export of different beef breeds offer significant opportunities in the global beef market. Exports of specific beef breeds cater to the diverse preferences of international consumers, thus driving the market growth. Importing different breeds can introduce genetic diversity and improve the quality of locally produced beef. Cross-breeding and selective breeding programs can enhance beef yield and quality, thereby expanding market potential. In addition, breed-specific beef exports can open new markets and enhance trade relationships, fostering opportunities for increased beef consumption globally.
Health and nutrition trends have created opportunities in the beef market as consumers increasingly seek protein-rich, nutrient-dense food. Beef is a natural source of essential nutrients such as protein, iron, and vitamins. Innovations in lean cuts and transparency in labeling align with health-conscious consumers' desires for balanced diets. In addition, demand for grass-fed and organic beef, perceived as healthier and more sustainable, has surged. These trends provide avenues for market growth by meeting consumer preferences for nutritious and ethically sourced beef products.
The increasing trend towards nutrient-rich food, driven by a focus on health and well-being, is surging the beef market. Beef is naturally packed with essential nutrients such as protein, iron, zinc, and vitamin B. As consumers seek wholesome, balanced diets, beef's nutritional profile makes it an attractive choice. This trend encourages higher consumption of beef products, supporting market growth and reinforcing beef's position as a valuable protein source in a nutrient-conscious food landscape. As consumers are becoming more health-conscious, they are opting for food that provides more nutrition which is supplied through fish, poultry and meats such as beef.
The proliferation of online meat distribution channels has significantly surged the beef market by offering consumers greater convenience and access to a wider range of beef products. This shift to e-commerce platforms allows consumers to order beef directly, providing a diverse selection, often with detailed information about cuts and sourcing. It also accommodates changing shopping preferences, particularly during the COVID-19 pandemic, fostering a robust online marketplace for beef products and thereby boosting the overall market demand. The increase in distribution channels such as online shopping and retail in countries such as China, has provided meat manufacturers an opportunity to reach more consumers. According to the Food Industry Executive, 61% consumers bought meat online in 2021, and younger generations such as Generation Z, purchase more meat products online.
However, Global factors such as climate change and economical challenges are the primary reasons for increasing prices of beef. The changes in weather and drought in many countries impact the production of resources required for cattle farming such as pasture, hay, and other feed, which consequently affects the supply of cattle. This subsequently reduces the supply and increases the prices on different levels of the supply chain. According to the Bureau of Labor Statistics, U.S., the prices for beef and veal increased by 20.1%, due to labor shortages and increased packaging cost of beef. Agriculture and Horticulture Development Board (AHDB) has also reported decreased beef production in European Union (EU) and was 4.5% lower in the first half of 2023 as compared to 2022, thereby affecting key producing nations such as Italy, Spain, Poland and Ireland. This resulted in increased beef prices and lower consumption.
Global awareness about sustainability has a profound impact on the beef market as consumers are more aware about their food choices and are focusing on reducing their environmental footprint. This has resulted in companies investing heavily in the production processes of beef, for reducing their environmental impact and focusing on organic farming. According to Gallup, Inc., an analytics company, 49% of consumers consider environmental reasons for reducing their meat consumption. As a result, companies are opting for marketing, retail, and sales strategies that meet consumer expectations through maintaining various animal welfare and environmental standards. For instance, Tyson Foods launched Brazen Beef brand, which is a USDA approved climate friendly beef, to strengthen its business position in the market. Consumers are now actively seeking sustainably produced beef, which has led to a rise in demand for cattle raised using eco-friendly methods, reduced antibiotic usage, and adherence to animal welfare standards. As sustainability becomes a key criterion for many consumers, producers implementing such practices have gained a competitive edge, and create opportunities for beef market growth.
The beef market is segmented on the basis of product type, cut type, distribution channel, and region. By product type, the market is classified into loin, chuck, round, brisket, rib, and others. By cut type, the market is segmented into Ground beef, steaks, roasts, cubed, and others. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, retail stores, wholesalers, e-commerce, and others. Region-wise, the market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Russia, Spain, Italy, and Rest of Asia-Pacific), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Europe), and LAMEA (Brazil, Argentina, Chile, South Africa, Egypt, and Rest of LAMEA).
The major players operating in the market focus on key strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have also been focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the online grocery market include American Foods Group, LLC, Leverandørselskabet Danish Crown AmbA, JBS S.A., Tyson Foods, Inc., NH Foods Ltd., Smithfield Foods, Inc, Marfrig Global Foods S.A., Agri Beef Co., Cargill, Incorporated, and The Kroger Co.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BEEF MARKET, BY PRODUCT TYPE
CHAPTER 5: BEEF MARKET, BY CUT TYPE
CHAPTER 6: BEEF MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: BEEF MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the beef market was valued at $445.1 billion in 2022, and is estimated to reach $625.8 billion by 2032, growing at a CAGR of 3.5% from 2023 to 2032.The beef market is a significant sector of the global food industry, characterized by the production and distribution of beef products. It encompasses various segments, including cattle farming, beef processing, and retail sales. Beef is a widely consumed protein source, and market dynamics are influenced by factors such as consumer preferences, dietary trends, and economic conditions. Sustainability and animal welfare concerns are increasingly shaping the market, driving the demand for organic and grass-fed beef. In addition, trade agreements and supply chain management play vital roles in the international beef market's growth and stability.
Beef is rich in protein content, making it a significant source of high-quality protein for consumers worldwide. Beef is renowned for its protein density, with approximately 25 grams of protein per 3.5-ounce (100-gram) serving. This protein content, along with its essential amino acids and nutrients, positions beef as a valuable dietary source for meeting protein needs, muscle development, and overall nutrition, contributing to its popularity in diets worldwide.
The import and export of different beef breeds offer significant opportunities in the global beef market. Exports of specific beef breeds cater to the diverse preferences of international consumers, thus driving the market growth. Importing different breeds can introduce genetic diversity and improve the quality of locally produced beef. Cross-breeding and selective breeding programs can enhance beef yield and quality, thereby expanding market potential. In addition, breed-specific beef exports can open new markets and enhance trade relationships, fostering opportunities for increased beef consumption globally.
Health and nutrition trends have created opportunities in the beef market as consumers increasingly seek protein-rich, nutrient-dense food. Beef is a natural source of essential nutrients such as protein, iron, and vitamins. Innovations in lean cuts and transparency in labeling align with health-conscious consumers' desires for balanced diets. In addition, demand for grass-fed and organic beef, perceived as healthier and more sustainable, has surged. These trends provide avenues for market growth by meeting consumer preferences for nutritious and ethically sourced beef products.
The increasing trend towards nutrient-rich food, driven by a focus on health and well-being, is surging the beef market. Beef is naturally packed with essential nutrients such as protein, iron, zinc, and vitamin B. As consumers seek wholesome, balanced diets, beef's nutritional profile makes it an attractive choice. This trend encourages higher consumption of beef products, supporting market growth and reinforcing beef's position as a valuable protein source in a nutrient-conscious food landscape. As consumers are becoming more health-conscious, they are opting for food that provides more nutrition which is supplied through fish, poultry and meats such as beef.
The proliferation of online meat distribution channels has significantly surged the beef market by offering consumers greater convenience and access to a wider range of beef products. This shift to e-commerce platforms allows consumers to order beef directly, providing a diverse selection, often with detailed information about cuts and sourcing. It also accommodates changing shopping preferences, particularly during the COVID-19 pandemic, fostering a robust online marketplace for beef products and thereby boosting the overall market demand. The increase in distribution channels such as online shopping and retail in countries such as China, has provided meat manufacturers an opportunity to reach more consumers. According to the Food Industry Executive, 61% consumers bought meat online in 2021, and younger generations such as Generation Z, purchase more meat products online.
However, Global factors such as climate change and economical challenges are the primary reasons for increasing prices of beef. The changes in weather and drought in many countries impact the production of resources required for cattle farming such as pasture, hay, and other feed, which consequently affects the supply of cattle. This subsequently reduces the supply and increases the prices on different levels of the supply chain. According to the Bureau of Labor Statistics, U.S., the prices for beef and veal increased by 20.1%, due to labor shortages and increased packaging cost of beef. Agriculture and Horticulture Development Board (AHDB) has also reported decreased beef production in European Union (EU) and was 4.5% lower in the first half of 2023 as compared to 2022, thereby affecting key producing nations such as Italy, Spain, Poland and Ireland. This resulted in increased beef prices and lower consumption.
Global awareness about sustainability has a profound impact on the beef market as consumers are more aware about their food choices and are focusing on reducing their environmental footprint. This has resulted in companies investing heavily in the production processes of beef, for reducing their environmental impact and focusing on organic farming. According to Gallup, Inc., an analytics company, 49% of consumers consider environmental reasons for reducing their meat consumption. As a result, companies are opting for marketing, retail, and sales strategies that meet consumer expectations through maintaining various animal welfare and environmental standards. For instance, Tyson Foods launched Brazen Beef brand, which is a USDA approved climate friendly beef, to strengthen its business position in the market. Consumers are now actively seeking sustainably produced beef, which has led to a rise in demand for cattle raised using eco-friendly methods, reduced antibiotic usage, and adherence to animal welfare standards. As sustainability becomes a key criterion for many consumers, producers implementing such practices have gained a competitive edge, and create opportunities for beef market growth.
The beef market is segmented on the basis of product type, cut type, distribution channel, and region. By product type, the market is classified into loin, chuck, round, brisket, rib, and others. By cut type, the market is segmented into Ground beef, steaks, roasts, cubed, and others. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, retail stores, wholesalers, e-commerce, and others. Region-wise, the market is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, France, UK, Russia, Spain, Italy, and Rest of Asia-Pacific), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Europe), and LAMEA (Brazil, Argentina, Chile, South Africa, Egypt, and Rest of LAMEA).
The major players operating in the market focus on key strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have also been focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the online grocery market include American Foods Group, LLC, Leverandørselskabet Danish Crown AmbA, JBS S.A., Tyson Foods, Inc., NH Foods Ltd., Smithfield Foods, Inc, Marfrig Global Foods S.A., Agri Beef Co., Cargill, Incorporated, and The Kroger Co.
Companies Mentioned
- American Foods Group, LLC
- Leverandørselskabet Danish Crown AmbA
- Tyson Foods, Inc.
- NH Foods Ltd.
- Marfrig Global Foods S.A.
- Agri Beef Co.
- JBS S.A.
- Smithfield Foods, Inc
- Cargill, Incorporated
- The Kroger Co.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | September 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 445.1 billion |
| Forecasted Market Value ( USD | $ 625.8 billion |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
