The Beef Market was valued at $302.8Billion in 2018 and is forecast to grow at a modest3.5% CAGR between2018 and 2025, culminating in 2026 global sales of $390.5Billion.
Rising global population, growing urbanization, and their food consumption are some the important factors projected to support the market growth. Additionally, growing demand for special cuts of meat, withhalal and kosher beef, is expected to drive the market growth. This beef is processed by cows, steers, and bulls from different corners of the world. Disposable income of the consumers playing an effective role to fuel the beef market growth. Basically, beef consists of high protein than other meat such as turkey, chicken, and pork. So, Increasing awareness related to the consumption of protein over high nutritional food is taking importance between people. An emerging country like the U.S. always preferred beef meat because they identify that several types of disease associated with other meat like pork and poultry. Due to the increasein disposable income of people in China, is expected to grow the segment over the forecast period.Beef is the most consumed meat all over the world and having no second position to pork owing to its availability of protein percentage.In the year 2016, beef meat cost having higher than (>62.0%) other meats. Moreover, the disproportion in the supply of cattle may effect in the upsurge at cattle prices over the forecast period.
“Optimal Price Point (OPP) for Global Beef Market”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in the China Global Beefs are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Global Beef Market by “Slaughter Method”
We have segmented the GlobalBeef Market based on Slaughter Method as Kosher, and Halal.
We have observed that the rapid growth of Beef followed by Kosher and halalsegmentwiththe CAGR of3.0%overthe forecast period. Basically,this method is used by Islamic and Jewish population. There are 80% of the Jewish population living in Europe and Israel. Increasing more no of Islamic population will drive the halal segment in the coming future.
Global Beef Market by “Cut Type”
We have segmented the Global Beef Market-based on Cut Type as Brisket, Shank, and Loin.
We have observed that the rapid growth of Beef followed by brisket segmentwith 58.4% of the revenue sharein 2017. This segment drives the market by round, ribs, plate, flank, and chuck cuts of pectoral or chest portion of the animal.
The shank segment is projected to register a CAGR of 3.9%, in terms of revenue, by shares during the forecast period. This segment having low-fat beef and is placed in the forearms of the animal in front of the brisket.
The Asia Pacific and North America accounted for the maximum revenue share of over xx% in 2018 due to increased demand of Global beef followed by EU- Top 5 countries contribute $X.6 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The rapid growth of the Islamic population and the availability of Global Beef option create an impact in developing countries for the demand for healthy meat and protein. Asia Pacific market is anticipated to register the highest CAGR of 4.5% over the forecasting period, powered by countries such as China, Pakistan, Australia, and Japan. Significant growth in disposable income levels, along with changing lifestyle, has created a positive impact on the beef industry in Chin.North America is expected to witness a steady CAGR of 3.5% over the forecast period. Consciousness associated with grass-fed beef is anticipated to contribute to market growth.
“Competitive Landscape”and “Merger& Acquisition Insights”
The key market participantsTyson Foods, Inc., Danish Crown, Cargill, Incorporated, Marfrig Global Foods S.A., NH Foods Ltd., NH Foods Ltd., St Helen’s Meat Packers, Hormel Foods Corporation, JBS USA, National Beef Packing Company, LLC, Vion Food Group,and Australian Agricultural Company Limitedare few major players in Global Beef Markets. TheGlobal Beef Market is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Global Beef MarketbySlaughter Method(Revenue, Million, 2018 – 2026)
Global Beef Market by Cut Type(Revenue, Million, 2018 – 2026)
Global Beef Market Regional Outlook (Revenue, USD Million, 2018-2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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