The global market for Beef was estimated at US$357.6 Billion in 2023 and is projected to reach US$469.3 Billion by 2030, growing at a CAGR of 4.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
In Asian cuisine, dishes such as Korean bulgogi, Japanese yakiniku, and Vietnamese pho showcase the adaptability of beef across flavor profiles. Beef's global appeal stems from its ability to adapt to diverse cooking techniques and flavors, which has cemented it as a culinary cornerstone in both traditional and contemporary kitchens worldwide. Beyond its flavor and nutrition, beef also plays an economic role, as the beef industry supports jobs in agriculture, food processing, and restaurant sectors, contributing significantly to the economies of many countries.
Health-conscious buyers are also seeking leaner cuts of beef and products with transparency in sourcing, prompting the industry to offer more options like certified organic, hormone-free, and antibiotic-free beef. Technology has further supported these changes, enabling better tracking and verification of beef's origin, which helps meet consumer demand for transparency. As consumers become more mindful of their food choices, the beef industry continues to adapt by focusing on sustainability, animal welfare, and clear labeling, aligning with the values of a new generation of informed buyers.
In beef processing, automation and robotics are used to streamline operations, enhance food safety, and reduce labor costs. Blockchain technology is also being applied to improve transparency across the supply chain, allowing consumers and stakeholders to trace beef products from farm to table. Moreover, innovations in alternative feeds, like algae or insects, are being explored to reduce the environmental impact of traditional feed. Together, these technological advancements are making beef production more efficient, sustainable, and transparent, addressing both consumer expectations and environmental concerns.
At the same time, the popularity of high-protein diets and the ongoing trend of meat-based diets have kept beef demand strong in developed markets. The growth of specialty beef products, such as wagyu and grass-fed varieties, also contributes to demand, as consumers seek premium, differentiated options that offer distinct flavors and textures. Additionally, the foodservice sector, particularly in quick-service restaurants and casual dining, relies heavily on beef for menu items like burgers, steaks, and tacos, supporting continuous demand across global markets. These factors collectively underscore the growth of the global beef market, propelled by evolving culinary preferences, increased accessibility, and the economic rise of emerging markets.
Global Beef Market - Key Trends and Drivers Summarized
Why Is Beef Such an Integral Part of Global Cuisine and Culture?
Beef has long been a staple in diets around the world, valued for its rich flavor, versatility, and nutritional benefits. It provides a high-quality source of protein, essential vitamins like B12, and minerals such as iron and zinc, making it a fundamental part of many balanced diets. Across different cultures, beef is celebrated in a variety of culinary traditions, from steaks and roasts to curries, stews, and barbecues. In the United States, for instance, beef plays a central role in classic dishes like hamburgers and barbecued brisket, while in Argentina, asado, a style of cooking beef over an open flame, is an iconic part of social gatherings and national identity.In Asian cuisine, dishes such as Korean bulgogi, Japanese yakiniku, and Vietnamese pho showcase the adaptability of beef across flavor profiles. Beef's global appeal stems from its ability to adapt to diverse cooking techniques and flavors, which has cemented it as a culinary cornerstone in both traditional and contemporary kitchens worldwide. Beyond its flavor and nutrition, beef also plays an economic role, as the beef industry supports jobs in agriculture, food processing, and restaurant sectors, contributing significantly to the economies of many countries.
How Is the Beef Industry Adapting to Changing Consumer Preferences?
The beef industry has evolved to meet shifting consumer preferences, which increasingly emphasize sustainability, animal welfare, and health-conscious choices. As awareness of environmental issues grows, consumers are paying more attention to the environmental impact of beef production, particularly its greenhouse gas emissions, water use, and land footprint. In response, producers are adopting more sustainable practices, such as rotational grazing, regenerative agriculture, and efficient feed programs, to reduce their ecological footprint. Additionally, the demand for grass-fed and organic beef has risen, with many consumers viewing these options as more ethical and environmentally friendly.Health-conscious buyers are also seeking leaner cuts of beef and products with transparency in sourcing, prompting the industry to offer more options like certified organic, hormone-free, and antibiotic-free beef. Technology has further supported these changes, enabling better tracking and verification of beef's origin, which helps meet consumer demand for transparency. As consumers become more mindful of their food choices, the beef industry continues to adapt by focusing on sustainability, animal welfare, and clear labeling, aligning with the values of a new generation of informed buyers.
What Role Does Technology Play in Advancing Beef Production?
Technology has significantly impacted the beef industry, improving everything from cattle management to processing and distribution. Advances in genetics and animal health have enabled breeders to select for cattle traits that improve meat quality, health, and efficiency, leading to better yields and fewer resources needed per pound of beef produced. Precision agriculture technologies, such as GPS-based grazing management and automated feeding systems, help ranchers optimize their land use, reduce waste, and improve cattle welfare. Additionally, digital health monitoring tools track vital signs in livestock, enabling early detection of health issues and reducing the need for antibiotics.In beef processing, automation and robotics are used to streamline operations, enhance food safety, and reduce labor costs. Blockchain technology is also being applied to improve transparency across the supply chain, allowing consumers and stakeholders to trace beef products from farm to table. Moreover, innovations in alternative feeds, like algae or insects, are being explored to reduce the environmental impact of traditional feed. Together, these technological advancements are making beef production more efficient, sustainable, and transparent, addressing both consumer expectations and environmental concerns.
What Is Driving the Growth in the Global Beef Market?
The global beef market continues to grow, driven by factors such as population growth, rising incomes, and expanding culinary trends that elevate beef consumption. As middle-class populations expand in emerging economies, demand for high-quality protein sources like beef has increased, especially in regions like Asia and Latin America where beef consumption is rising rapidly. In these markets, beef is seen as a premium product, often associated with social gatherings, celebrations, and special occasions. Globalization has also contributed to the spread of culinary influences, with dishes from Western countries featuring prominently in international menus, further boosting beef consumption worldwide.At the same time, the popularity of high-protein diets and the ongoing trend of meat-based diets have kept beef demand strong in developed markets. The growth of specialty beef products, such as wagyu and grass-fed varieties, also contributes to demand, as consumers seek premium, differentiated options that offer distinct flavors and textures. Additionally, the foodservice sector, particularly in quick-service restaurants and casual dining, relies heavily on beef for menu items like burgers, steaks, and tacos, supporting continuous demand across global markets. These factors collectively underscore the growth of the global beef market, propelled by evolving culinary preferences, increased accessibility, and the economic rise of emerging markets.
Scope of the Study
The report analyzes the Beef market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.Segments
Cut Type (Shank, Brisket, Loin, Other Cut Types); Slaughter Method (Halal, Kosher, Other Slaughter Methods)Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Beef Shank segment, which is expected to reach US$147.8 Billion by 2030 with a CAGR of a 4.3%. The Beef Brisket segment is also set to grow at 3.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $95.1 Billion in 2023, and China, forecasted to grow at an impressive 5.9% CAGR to reach $96.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Beef Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Beef Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Beef Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Beef Market such as Australian Agricultural Company Limited, Cargill, Incorporated., Danish Crown, Hormel Foods Corporation, JBS USA and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 48 companies featured in this Global Beef Market report include:
- Australian Agricultural Company Limited
- Cargill, Incorporated.
- Danish Crown
- Hormel Foods Corporation
- JBS USA
- Marfrig Global Foods S.A.
- Minerva Foods
- National Beef Packing Company, LLC.
- NH Foods Ltd.
- St Helen’s Meat Packers
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISSOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- Australian Agricultural Company Limited
- Cargill, Incorporated.
- Danish Crown
- Hormel Foods Corporation
- JBS USA
- Marfrig Global Foods S.A.
- Minerva Foods
- National Beef Packing Company, LLC.
- NH Foods Ltd.
- St Helen’s Meat Packers
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 96 |
| Published | December 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 357.6 Billion |
| Forecasted Market Value ( USD | $ 469.3 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
