Global Beef Market Forecast Report By Producing Countries, Consuming Countries, Importing countries, Exporting Countries and Company Analysis 2024-2032

The Global Beef Industry was valued at US$ 332.28 Billion in 2022

Global Beef Market Analysis

Global beef market will be expected to grow US$ 720.58 billion by year 2032, from US$ 500. 18 billion in 2023, with an approximate compound annual growth rate 4.14% between 2024 and 2032. Mainly because of globalization, global consumer food preferences are shifting and there has been a rise in demand for beef food because people are looking for more protein food and therefore, there has been a focus on the quality of meat produced and convenience in the cooking thereof.

Beef outlooks

Beef can be described as a type of meat that is gotten from an adult bovine animal. It is red meat that serves as a source of various essential minerals; these are proteins, zinc, seleni, and iron. As for meats, beef may contain a great deal of soft abdominal fat and is considered higher-grade because of their fantastic taste when incorporated with the meat composition. In the first processing stage, beef is divided into even smaller parts in what is referred to as cuts.

Beef meat has many nutritional values and is used profusely all over the world because of the high quantity of proteins, essential vitamins like vitamin B12 and B6 and necessary minerals like iron and zinc. It is useful to muscles, helping them build and repair, enhances the immune system, and helps to keep skin and hair healthy. Apart from serving as a basic food item, beef is incorporated in several societies all over the world and used in various dishes, thus accounting for its highly valued position in the culinary world. Economically, beef consumption and production are beneficial to many agriculturists, and boost the local economies. However, more and more attention are paid to the sustainable methods in beef production to resolve the issue of land use rights and greenhouse gas emission albeit recognizing the meat’s nutritional values and the need to be environmentally friendly.

Driving Forces of the Global Beef Market

Growing Population and Income Levels

The world beef market is driven by the increasing population and a qualitative change in people’s incomes, especially in developing countries. With the increase in the disposable income, the expenditure on proteins and carbohydrates is viewed, where beef forms the part of it. This demographic factor by itself can greatly increase the call for beef products both in retail markets, further up and in food catering services or products. Retail markets are a plus in consumers’ enhanced buying power, and food service sectors in the adjustment of menus to meet new trend of eating regimens. Furthermore, sectors dealing with processed foods adapt to ensure that they include beef in tasty and easy-to-consumer products. Such trends bespeak on beef and its significance for supply of nutrients and other demands due to variation of demographic and economic maps of the world.

Urbanization and Changing Dietary Preferences

Global dietary habits are gradually shifting due to urbanization, which has worked in tandem to promote the consumption of easy-to-prepare and protein-rich foods such as beef. When cities grow, people whether in cities or not are normally able to purchase more products as it pertains to food and other delicacies. This demographic bonus promotes a higher rate of consumption of beef in various forms as are steaks and processed meats. This change of preference can be attributed to new lifestyle changes taking over the country through urbanization whereby convenience and nutritional benefits of beef are considered. This trend confirms the position of beef as the primary protein in people’s diet, as well as the part of the product that fits into an expanding population with urban consumption patterns.

Global Trade and Export Opportunities

International business plays a significant role in the global beef market as it creates an opportunity for beef products to be traded across borders with different production capabilities and consumer demands. Searched economic regions utilize trade to penetrate extensive markets and therefore improve on the profitability and overall economic advancement through beef exports. On the other hand, import dependent areas depend on imports to fulfill domestic consumption and complete the local production, thus offering a variety of products to safeguard their markets. This globalization of trade empowers world food security and creates economic interdependency and division of labor in the beef industry. An efficient transportation system and trade liberalization in international markets play an important role in exporting and importing countries’ management of the constantly evolving beef market.

Asia Beef Market

The Asia beef market is multivariate and comprises client tastes, economic expansion, and altering diets. It is shown that as Asian economy progress, enhanced income earning capacities along with acquaintance to urban way of living hasten the demand for source of proteins such as beef. Major players include countries such as China, India, Japan and South Korea categorized under developing countries with their individual trends and capacity in consumption and production. General patterns of urbanization trigger consumption since consumers residing in urban areas have relatively high purchasing capacity as well as a broader spectrum of choice including beef products like steak or processed meat. Demographic factors and culture also play a role in determining the market for beef due to the channels that are used in the production and the legal systems that govern beef trade around the globe. With globalization increasing steadily, the Asia region continues to be on the forefront in the importation as well as exportation of beef products thus its crucial role towards the growth of this market.

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.

Consuming Countries- Market breakup in 12 viewpoints:

1. United States
2. China
3. Brazil
4. European Union
5. India
6. Argentina
7. Mexico
8. Russia
9. Japan
10. United Kingdom
11. Canada
12. Others

Producing Countries- Market breakup in 12 viewpoints:

1. United States
2. Brazil
3. China
4. European Union
5. India
6. Argentina
7. Australia
8. Mexico
9. Russia
10. Canada
11. South Africa
12. Others

Importing Countries- Market breakup in 10 viewpoints:

1. China
2. United States
3. Japan
4. South Korea
5. United Kingdom
6. European Union
7. Chile
8. Malaysia
9. Russia
10. Canada

Exporting Countries- Market breakup in 10 viewpoints:

1. Brazil
2. Australia
3. India
4. United States
5. Argentina
6. New Zealand
7. European Union
8. Canada
9. Uruguay
10. Mexico

All the key players have been covered from 3 Viewpoints:

• Business Overview
• Recent Development & Strategies
• Revenue Analysis

Key Players Analysis:

1. JBS S.A
2. Tyson Foods
3. Pilgrim's pride corporation
4. Danish crown group
5. Vion Food Group
6. WH Group
7. Hormel Foods Corporation
8. Muyuan Foods