+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Beef Market By Product Type, By Cut Type, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023-2032

  • PDF Icon

    Report

  • 300 Pages
  • September 2023
  • Region: Global
  • Allied Market Research
  • ID: 5916258
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.

 

Please note:

  • Online Access price format is valid for 60 days access. Printing is not enabled.
  • PDF Single and Enterprise price formats enable printing.

 

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
CHAPTER 4: BEEF MARKET, BY PRODUCT TYPE
4.1. Overview
4.2. Loin
4.3. Chuck
4.4. Round
4.5. Brisket
4.6. Rib
4.7. Others
CHAPTER 5: BEEF MARKET, BY CUT TYPE
5.1. Overview
5.2. Ground Beef
5.3. Steaks
5.4. Roasts
5.5. Cubed
5.6. Others
CHAPTER 6: BEEF MARKET, BY DISTRIBUTION CHANNEL
6.1. Overview
6.2. Supermarket and Hypermarket
6.3. Retail Store
6.4. Wholesaler
6.5. E commerce
6.6. Others
CHAPTER 7: BEEF MARKET, BY REGION
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. LAMEA
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
9.1. Agri Beef Co.
9.2. American Foods Group, LLC
9.3. Leverandørselskabet Danish Crown AmbA
9.4. JBS S.A.
9.5. Marfrig Global Foods S.A.
9.6. NH Foods Ltd.
9.7. Smithfield Foods, Inc
9.8. Tyson Foods, Inc.
9.9. Cargill, Incorporated
9.10. The Kroger Co.
List of Tables
Table 01. Global Beef Market, by Product Type, 2022-2032 ($ Million)
Table 02. Beef Market for Loin, by Region, 2022-2032 ($ Million)
Table 03. Beef Market for Chuck, by Region, 2022-2032 ($ Million)
Table 04. Beef Market for Round, by Region, 2022-2032 ($ Million)
Table 05. Beef Market for Brisket, by Region, 2022-2032 ($ Million)
Table 06. Beef Market for Rib, by Region, 2022-2032 ($ Million)
Table 07. Beef Market for Others, by Region, 2022-2032 ($ Million)
Table 08. Global Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 09. Beef Market for Ground Beef, by Region, 2022-2032 ($ Million)
Table 10. Beef Market for Steaks, by Region, 2022-2032 ($ Million)
Table 11. Beef Market for Roasts, by Region, 2022-2032 ($ Million)
Table 12. Beef Market for Cubed, by Region, 2022-2032 ($ Million)
Table 13. Beef Market for Others, by Region, 2022-2032 ($ Million)
Table 14. Global Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 15. Beef Market for Supermarket and Hypermarket, by Region, 2022-2032 ($ Million)
Table 16. Beef Market for Retail Store, by Region, 2022-2032 ($ Million)
Table 17. Beef Market for Wholesaler, by Region, 2022-2032 ($ Million)
Table 18. Beef Market for E Commerce, by Region, 2022-2032 ($ Million)
Table 19. Beef Market for Others, by Region, 2022-2032 ($ Million)
Table 20. Beef Market, by Region, 2022-2032 ($ Million)
Table 21. North America Beef Market, by Product Type, 2022-2032 ($ Million)
Table 22. North America Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 23. North America Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 24. North America Beef Market, by Country, 2022-2032 ($ Million)
Table 25. U.S. Beef Market, by Product Type, 2022-2032 ($ Million)
Table 26. U.S. Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 27. U.S. Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 28. Canada Beef Market, by Product Type, 2022-2032 ($ Million)
Table 29. Canada Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 30. Canada Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 31. Mexico Beef Market, by Product Type, 2022-2032 ($ Million)
Table 32. Mexico Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 33. Mexico Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 34. Europe Beef Market, by Product Type, 2022-2032 ($ Million)
Table 35. Europe Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 36. Europe Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 37. Europe Beef Market, by Country, 2022-2032 ($ Million)
Table 38. Germany Beef Market, by Product Type, 2022-2032 ($ Million)
Table 39. Germany Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 40. Germany Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 41. UK Beef Market, by Product Type, 2022-2032 ($ Million)
Table 42. UK Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 43. UK Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 44. France Beef Market, by Product Type, 2022-2032 ($ Million)
Table 45. France Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 46. France Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 47. Italy Beef Market, by Product Type, 2022-2032 ($ Million)
Table 48. Italy Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 49. Italy Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 50. Spain Beef Market, by Product Type, 2022-2032 ($ Million)
Table 51. Spain Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 52. Spain Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 53. Russia Beef Market, by Product Type, 2022-2032 ($ Million)
Table 54. Russia Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 55. Russia Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 56. Rest of Europe Beef Market, by Product Type, 2022-2032 ($ Million)
Table 57. Rest of Europe Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 58. Rest of Europe Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 59. Asia-Pacific Beef Market, by Product Type, 2022-2032 ($ Million)
Table 60. Asia-Pacific Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 61. Asia-Pacific Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 62. Asia-Pacific Beef Market, by Country, 2022-2032 ($ Million)
Table 63. China Beef Market, by Product Type, 2022-2032 ($ Million)
Table 64. China Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 65. China Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 66. South Korea Beef Market, by Product Type, 2022-2032 ($ Million)
Table 67. South Korea Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 68. South Korea Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 69. Japan Beef Market, by Product Type, 2022-2032 ($ Million)
Table 70. Japan Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 71. Japan Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 72. India Beef Market, by Product Type, 2022-2032 ($ Million)
Table 73. India Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 74. India Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 75. Australia Beef Market, by Product Type, 2022-2032 ($ Million)
Table 76. Australia Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 77. Australia Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 78. Rest of Asia-Pacific Beef Market, by Product Type, 2022-2032 ($ Million)
Table 79. Rest of Asia-Pacific Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 80. Rest of Asia-Pacific Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 81. LAMEA Beef Market, by Product Type, 2022-2032 ($ Million)
Table 82. LAMEA Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 83. LAMEA Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 84. LAMEA Beef Market, by Country, 2022-2032 ($ Million)
Table 85. Brazil Beef Market, by Product Type, 2022-2032 ($ Million)
Table 86. Brazil Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 87. Brazil Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 88. Argentina Beef Market, by Product Type, 2022-2032 ($ Million)
Table 89. Argentina Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 90. Argentina Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 91. Chile Beef Market, by Product Type, 2022-2032 ($ Million)
Table 92. Chile Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 93. Chile Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 94. Egypt Beef Market, by Product Type, 2022-2032 ($ Million)
Table 95. Egypt Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 96. Egypt Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 97. South Africa Beef Market, by Product Type, 2022-2032 ($ Million)
Table 98. South Africa Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 99. South Africa Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 100. Rest of LAMEA Beef Market, by Product Type, 2022-2032 ($ Million)
Table 101. Rest of LAMEA Beef Market, by Cut Type, 2022-2032 ($ Million)
Table 102. Rest of LAMEA Beef Market, by Distribution Channel, 2022-2032 ($ Million)
Table 103. Agri Beef Co.: Key Executives
Table 104. Agri Beef Co.: Company Snapshot
Table 105. Agri Beef Co.: Product Segments
Table 106. Agri Beef Co.: Product Portfolio
Table 107. Agri Beef Co.: Key Stratergies
Table 108. American Foods Group, LLC: Key Executives
Table 109. American Foods Group, LLC: Company Snapshot
Table 110. American Foods Group, LLC: Product Segments
Table 111. American Foods Group, LLC: Product Portfolio
Table 112. American Foods Group, LLC: Key Stratergies
Table 113. Leverandørselskabet Danish Crown Amba: Key Executives
Table 114. Leverandørselskabet Danish Crown Amba: Company Snapshot
Table 115. Leverandørselskabet Danish Crown Amba: Product Segments
Table 116. Leverandørselskabet Danish Crown Amba: Product Portfolio
Table 117. Jbs S.A.: Key Executives
Table 118. Jbs S.A.: Company Snapshot
Table 119. Jbs S.A.: Product Segments
Table 120. Jbs S.A.: Product Portfolio
Table 121. Marfrig Global Foods S.A.: Key Executives
Table 122. Marfrig Global Foods S.A.: Company Snapshot
Table 123. Marfrig Global Foods S.A.: Product Segments
Table 124. Marfrig Global Foods S.A.: Product Portfolio
Table 125. Marfrig Global Foods S.A.: Key Stratergies
Table 126. Nh Foods Ltd.: Key Executives
Table 127. Nh Foods Ltd.: Company Snapshot
Table 128. Nh Foods Ltd.: Product Segments
Table 129. Nh Foods Ltd.: Product Portfolio
Table 130. Smithfield Foods, Inc: Key Executives
Table 131. Smithfield Foods, Inc: Company Snapshot
Table 132. Smithfield Foods, Inc: Product Segments
Table 133. Smithfield Foods, Inc: Product Portfolio
Table 134. Smithfield Foods, Inc: Key Stratergies
Table 135. Tyson Foods, Inc.: Key Executives
Table 136. Tyson Foods, Inc.: Company Snapshot
Table 137. Tyson Foods, Inc.: Product Segments
Table 138. Tyson Foods, Inc.: Product Portfolio
Table 139. Tyson Foods, Inc.: Key Stratergies
Table 140. Cargill, Incorporated: Key Executives
Table 141. Cargill, Incorporated: Company Snapshot
Table 142. Cargill, Incorporated: Product Segments
Table 143. Cargill, Incorporated: Product Portfolio
Table 144. The Kroger Co.: Key Executives
Table 145. The Kroger Co.: Company Snapshot
Table 146. The Kroger Co.: Product Segments
Table 147. The Kroger Co.: Product Portfolio
Table 148. The Kroger Co.: Key Stratergies
List of Figures
Figure 01. Beef Market, 2022-2032
Figure 02. Segmentation of Beef Market, 2022-2032
Figure 03. Top Impacting Factors in Beef Market (2022 to 2032)
Figure 04. Top Investment Pockets in Beef Market (2023-2032)
Figure 05. Moderate Bargaining Power of Suppliers
Figure 06. Moderate Threat of New Entrants
Figure 07. Moderate Threat of Substitutes
Figure 08. Moderate Intensity of Rivalry
Figure 09. Moderate Bargaining Power of Buyers
Figure 10. Global Beef Market: Drivers, Restraints and Opportunities
Figure 11. Beef Market, by Product Type, 2022 and 2032 (%)
Figure 12. Comparative Share Analysis of Beef Market for Loin, by Country 2022 and 2032 (%)
Figure 13. Comparative Share Analysis of Beef Market for Chuck, by Country 2022 and 2032 (%)
Figure 14. Comparative Share Analysis of Beef Market for Round, by Country 2022 and 2032 (%)
Figure 15. Comparative Share Analysis of Beef Market for Brisket, by Country 2022 and 2032 (%)
Figure 16. Comparative Share Analysis of Beef Market for Rib, by Country 2022 and 2032 (%)
Figure 17. Comparative Share Analysis of Beef Market for Others, by Country 2022 and 2032 (%)
Figure 18. Beef Market, by Cut Type, 2022 and 2032 (%)
Figure 19. Comparative Share Analysis of Beef Market for Ground Beef, by Country 2022 and 2032 (%)
Figure 20. Comparative Share Analysis of Beef Market for Steaks, by Country 2022 and 2032 (%)
Figure 21. Comparative Share Analysis of Beef Market for Roasts, by Country 2022 and 2032 (%)
Figure 22. Comparative Share Analysis of Beef Market for Cubed, by Country 2022 and 2032 (%)
Figure 23. Comparative Share Analysis of Beef Market for Others, by Country 2022 and 2032 (%)
Figure 24. Beef Market, by Distribution Channel, 2022 and 2032 (%)
Figure 25. Comparative Share Analysis of Beef Market for Supermarket and Hypermarket, by Country 2022 and 2032 (%)
Figure 26. Comparative Share Analysis of Beef Market for Retail Store, by Country 2022 and 2032 (%)
Figure 27. Comparative Share Analysis of Beef Market for Wholesaler, by Country 2022 and 2032 (%)
Figure 28. Comparative Share Analysis of Beef Market for E Commerce, by Country 2022 and 2032 (%)
Figure 29. Comparative Share Analysis of Beef Market for Others, by Country 2022 and 2032 (%)
Figure 30. Beef Market by Region, 2022 and 2032 (%)
Figure 31. U.S. Beef Market, 2022-2032 ($ Million)
Figure 32. Canada Beef Market, 2022-2032 ($ Million)
Figure 33. Mexico Beef Market, 2022-2032 ($ Million)
Figure 34. Germany Beef Market, 2022-2032 ($ Million)
Figure 35. UK Beef Market, 2022-2032 ($ Million)
Figure 36. France Beef Market, 2022-2032 ($ Million)
Figure 37. Italy Beef Market, 2022-2032 ($ Million)
Figure 38. Spain Beef Market, 2022-2032 ($ Million)
Figure 39. Russia Beef Market, 2022-2032 ($ Million)
Figure 40. Rest of Europe Beef Market, 2022-2032 ($ Million)
Figure 41. China Beef Market, 2022-2032 ($ Million)
Figure 42. South Korea Beef Market, 2022-2032 ($ Million)
Figure 43. Japan Beef Market, 2022-2032 ($ Million)
Figure 44. India Beef Market, 2022-2032 ($ Million)
Figure 45. Australia Beef Market, 2022-2032 ($ Million)
Figure 46. Rest of Asia-Pacific Beef Market, 2022-2032 ($ Million)
Figure 47. Brazil Beef Market, 2022-2032 ($ Million)
Figure 48. Argentina Beef Market, 2022-2032 ($ Million)
Figure 49. Chile Beef Market, 2022-2032 ($ Million)
Figure 50. Egypt Beef Market, 2022-2032 ($ Million)
Figure 51. South Africa Beef Market, 2022-2032 ($ Million)
Figure 52. Rest of LAMEA Beef Market, 2022-2032 ($ Million)
Figure 53. Top Winning Strategies, by Year (2020-2023)
Figure 54. Top Winning Strategies, by Development (2020-2023)
Figure 55. Top Winning Strategies, by Company (2020-2023)
Figure 56. Product Mapping of Top 10 Players
Figure 57. Competitive Dashboard
Figure 58. Competitive Heatmap: Beef Market
Figure 59. Top Player Positioning, 2022
Figure 60. Leverandørselskabet Danish Crown Amba: Net Revenue, 2019-2021 ($ Million)
Figure 61. Leverandørselskabet Danish Crown Amba: Revenue Share by Segment, 2021 (%)
Figure 62. Leverandørselskabet Danish Crown Amba: Revenue Share by Region, 2021 (%)
Figure 63. Jbs S.A.: Net Revenue, 2020-2022 ($ Million)
Figure 64. Marfrig Global Foods S.A.: Net Revenue, 2020-2022 ($ Million)
Figure 65. Nh Foods Ltd.: Net Sales, 2020-2022 ($ Million)
Figure 66. Nh Foods Ltd.: Revenue Share by Segment, 2022 (%)
Figure 67. Nh Foods Ltd.: Revenue Share by Region, 2022 (%)
Figure 68. Smithfield Foods, Inc: Net Sales, 2020-2022 ($ Million)
Figure 69. Smithfield Foods, Inc: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 70. Tyson Foods, Inc.: Net Sales, 2020-2022 ($ Million)
Figure 71. Tyson Foods, Inc.: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 72. Tyson Foods, Inc.: Revenue Share by Segment, 2022 (%)
Figure 73. Cargill, Incorporated: Net Revenue, 2020-2022 ($ Million)
Figure 74. The Kroger Co.: Net Sales, 2020-2022 ($ Million)

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.

Loading
LOADING...

Table Information