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Market Overview:
The global beef market
size was valued at USD 436.60 billion in 2023 and is projected to grow from USD
459.87 billion in 2024 to USD 656.44 billion by 2032, exhibiting a CAGR of
5.52% during the forecast period. The rapid shift in consumer dietary
preferences, with consumer segments gravitating toward animal-based protein
products, has a positive impact on market growth during the forecast period,
says Fortune Business InsightsTM in its report
titled, “Beef Market, 2024-2032”.
Segmentation-
The beef market share is classified by cut type as ground, roasts,
steaks, and others. The market is divided into three segments based on
distribution channels: retail sales, HoReCa, and butcher shops. From a
geographical standpoint, the market is divided into Asia Pacific, North
America, Europe, and the Middle East & Africa.
Report Coverage-
The study conducts a thorough analysis of the beef market, highlighting
important factors such top producers, beef cuts, and product distribution
routes. In addition, the study highlights significant advancements in the
business and offers market insights. In addition to the above mentioned
elements, the study covers a number of other variables that have fueled the
market's recent expansion.
Source: https://www.fortunebusinessinsights.com/beef-market-106640
Drivers & Restraints-
Increasing Beef Consumption and Sales to Augment Market Growth Worldwide
In the upcoming years, it is anticipated that the ever-expanding
worldwide beef distribution channel will sustain market growth. The foodservice
business is seeing a rise in demand for meat preparations as a result of the
increased habit of eating out at cafes, hotels, and restaurants. Online
channels are predicted to boost fresh and chilled product sales even more due
to their wide range of product offers and discount schemes. But since the meat
sector contributes significantly to greenhouse gas emissions, cutting back on
meat consumption will eventually result in fewer animals raised for food. This
will hinder the expansion of the beef market.
Competitive Landscape-
Key Players Adopt New Growth Strategies to Stay Ahead of the Competition
The global beef market is highly consolidated, with several large
corporations competing against one another to increase overall revenue. Cargill
Inc, JBS SA, Tyson Foods Inc., LLC, National Beef Packing Company, and Danish
Crown A/S are some of the major manufacturers. To achieve market growth, the
companies are implementing product innovation strategies and geographically
expanding their manufacturing units.
Companies are also working to integrate their supply chains in order to
gain more control over the manufacturing process. A blockchain-based system is
also used to track cattle disease and ensure product safety. Manufacturers are
focusing on developing novel solutions to meet the tastes and preferences of
various consumer segments across geographies in order to meet the increasing
demand for innovative meat products.
Notable Industry Development-
April 2021: Tyson Foods invested in a cattle traceability program to detect the
disease and ensure that outbreaks do not disrupt production.
List of Key Market Players:
Market Overview:
The global beef market
size was valued at USD 436.60 billion in 2023 and is projected to grow from USD
459.87 billion in 2024 to USD 656.44 billion by 2032, exhibiting a CAGR of
5.52% during the forecast period. The rapid shift in consumer dietary
preferences, with consumer segments gravitating toward animal-based protein
products, has a positive impact on market growth during the forecast period,
says Fortune Business InsightsTM in its report
titled, “Beef Market, 2024-2032”.
Segmentation-
The beef market share is classified by cut type as ground, roasts,
steaks, and others. The market is divided into three segments based on
distribution channels: retail sales, HoReCa, and butcher shops. From a
geographical standpoint, the market is divided into Asia Pacific, North
America, Europe, and the Middle East & Africa.
Report Coverage-
The study conducts a thorough analysis of the beef market, highlighting
important factors such top producers, beef cuts, and product distribution
routes. In addition, the study highlights significant advancements in the
business and offers market insights. In addition to the above mentioned
elements, the study covers a number of other variables that have fueled the
market's recent expansion.
Source: https://www.fortunebusinessinsights.com/beef-market-106640
Drivers & Restraints-
Increasing Beef Consumption and Sales to Augment Market Growth Worldwide
In the upcoming years, it is anticipated that the ever-expanding
worldwide beef distribution channel will sustain market growth. The foodservice
business is seeing a rise in demand for meat preparations as a result of the
increased habit of eating out at cafes, hotels, and restaurants. Online
channels are predicted to boost fresh and chilled product sales even more due
to their wide range of product offers and discount schemes. But since the meat
sector contributes significantly to greenhouse gas emissions, cutting back on
meat consumption will eventually result in fewer animals raised for food. This
will hinder the expansion of the beef market.
Competitive Landscape-
Key Players Adopt New Growth Strategies to Stay Ahead of the Competition
The global beef market is highly consolidated, with several large
corporations competing against one another to increase overall revenue. Cargill
Inc, JBS SA, Tyson Foods Inc., LLC, National Beef Packing Company, and Danish
Crown A/S are some of the major manufacturers. To achieve market growth, the
companies are implementing product innovation strategies and geographically
expanding their manufacturing units.
Companies are also working to integrate their supply chains in order to
gain more control over the manufacturing process. A blockchain-based system is
also used to track cattle disease and ensure product safety. Manufacturers are
focusing on developing novel solutions to meet the tastes and preferences of
various consumer segments across geographies in order to meet the increasing
demand for innovative meat products.
Notable Industry Development-
April 2021: Tyson Foods invested in a cattle traceability program to detect the
disease and ensure that outbreaks do not disrupt production.
List of Key Market Players:
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