According to a report available on Grand View Research Inc., the global Beef Market is poised to rise to a valuation of USD 383.5 billion in 2025 expanding at a CAGR of 3.1 % over the forecast period. Increasing population, growing consumer disposable income, and beef evolving as a significant source of protein are the factors anticipated to drive the growth of beef industry in the years to come.

Rapid spread of diseases in the poultry and pork markets have led to increasing number of customers turning to beef and related products. Furthermore, food safety problems such as chemical residue and pathogen detection problems in meat products such as poultry and pork have surged the demand for beef across the globe. Increasing demand for special cuts of meat, including halal and kosher beef is expected to drive the market growth. Increasing consciousness regarding high protein consumption is estimated to further drive the market growth.

On the other hand, a significant supply and demand gap in the market on account of limited production owing to numerous political and environmental factors is estimated to hamper the beef industry in the years to come. However, international demand for beef, sustained cattle costs, and strong pasture conditions are anticipated to create new opportunities for the market in the coming years.

Press Release: Beef Market Size Worth $383.5 Billion By 2025 

As per the United States Department of Agriculture (USDA), U.S. was the largest consumer of beef in the market as of 2017. The economy is ranked fifth in terms of beef per capita consumption across the globe after Argentina, Hong Kong, Brazil, and Uruguay. Growth in Islamic and Jewish population in the U.S. is expected to propel the requirement for kosher and halal grade meats over the years to come.

North America was the leading market in 2017 and accounted for 30.4% of the total revenue. In addition, U.S. was the world’s largest producer in 2017 and with a rising demand for treated meats, it is expected to maintain its dominant position over the forecast period. Loin is the most chosen cut in the region and is served in all food channels. Grass-fed products are extremely chosen in the region on account of low marbling score.

Asia Pacific is anticipated to register the highest CAGR of 4.0% in terms of revenue over the years to come. It is driven by countries such as Japan, Australia, Pakistan, and China. Substantial development in disposable income levels along with changing lifestyles has made a positive influence on beef manufacturing in China.

Some of the key players effective in the beef market are Danish Crown; Tyson Foods, Inc.; Incorporated; Cargill, NH Foods Ltd.; Marfrig Global Foods S.A.; St Helen’s Meat Packers; NH Foods Ltd.; JBS USA; Hormel Foods Corporation; Vion Food Group; Australian Agricultural Company Limited; and National Beef Packing Company, LLC.