2nd April 2020 – Global Beef
Market report offers the latest industry trends, technological
alteration and forecast data. A deep-dive view of Beef industry based on its
size, growth, development plans, and opportunities is offered by this report.
The forecast information, SWOT analysis, Beef barriers, and feasibility study
are the vital aspects evaluated in this report.
The global Beef Market was valued
at US$ 300.6 billion in 2017 and is estimated to grow at a CAGR of 3.1% and
will touch the value of US$ 383.5 billion by the completion of the year 2025. Beef refers to cattle’s meat, especially skeletal muscle. It is a
rich source of nutrients and protein, which is essential for humans to maintain
good health. There are multiple ways to cook beef such as roasting, grilling,
broiling, and barbeque.
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Main features of the report:
·
To provide detailed analysis of
the market structure along with forecast of the various segments and
sub-segments of the global Beef Market.
·
A complete backdrop analysis,
which includes an assessment of the parent market
·
Important changes in market
dynamics
·
Market segmentation up to the
second or third level
·
To provide country level
analysis of the market for segment by application, product type and
sub-segments.
·
To provide strategic profiling
of key players in the market, comprehensively analyzing their core
competencies, and drawing a competitive landscape for the market.
·
Track and analyze competitive
developments such as joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments in the global
Beef Market.
·
Emerging niche segments and
regional markets
·
An objective assessment of the
trajectory of the industry.
Rising demand for protein rich diet
owing to health benefits is anticipated to propel beef market growth. Beef and
veal are rich sources of protein than any another other form of meat such as
pork or chicken. 100 grams of pork contain 29.3 percent protein content and 100
grams of chicken contains 28.9 percent protein content. However, beef contains
30 percent of protein content per 100 grams, which makes it nutritious than
other meat forms. In addition, rising safety concerns in terms of food products
is expected to impel beef industry growth. Pork or chicken are likely to
contain pathogens, which can lead to health issues in humans. Moreover, growing
consumption of special cuts of meat including halal and kosher will drive the
beef market over the forecast period.
To cater to rising demand for beef based
products, companies are investing in R& D to launch innovative products.
For instance, in July 2018, Hormel Foods launched canned chili made with
hundred percent Angus beef. The product contains no artificial ingredients
including fillers or preservatives. It is prepared from tender chunks of meat
simmered with a blend of spices and vegetables. The product is aimed to provide
unique texture and flavor to consumers.
Product Insights:
Based on product type, the beef industry
can be categorized into shank, brisket, flank, chuck, loin, and others. Shank
segment is anticipated to exhibit significant CAGR over the forecast period.
Shank is present is forearms of the animal in front of brisket. It is mostly
used to make low-fat ground meat.
Slaughter Method:
In terms of slaughter method, the beef
market can be classified into halal and kosher. Kosher segment is anticipated
to hold largest market share over the forecast period owing to increasing
consumption across the globe. Growing awareness among consumers regarding
health benefits of consuming Kosher such as quality and food safety is expected
to impel segment’s growth. Kosher is mostly consumed by Jewish population
across the globe.
Regional Insights:
Regional segmentation includes North
America, Asia Pacific, Europe, Central and South America, and Middle East and
Africa. In 2017, North America dominated the market and accounted for largest
market share. US was the largest producer of beef in the world and it is likely
to dominate the market over the forecast period. This is attributed to rising
demand for processed meat especially loin cut among consumers. In addition,
increasing number of food outlets selling processed meat is contributing well
to market growth. Moreover, growing Islamic and Jewish population in US and
rising consumption of halal and kosher meat will drive regional market growth
in coming years.
Some of the key players in the
beef market are Marfrig Global Foods S.A.; Tyson Foods, Inc.; Danish Crown;
Cargill, Inc.; and NH Foods Limited. Companies are adopting business strategies
such as mergers and acquisition to expand their product portfolio and gain
competitive edge. In addition, companies are also getting involved in
e-commerce platforms to expand their distribution channel and market presence.
Processed meat and fresh meat are distributed to restaurants, retailers,
grocery stores, and wholesalers.
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