The global market for beef is expected to reach USD
2,151 billion by 2020, according to a new study by Grand View Research, Inc.
Beef is the third largest consumed meat globally, with growing consumer
preference towards meat as source of protein expected to drive demand for beef
over the forecast period. In addition, growing disposable income in emerging
markets has resulted in increased consumption of beef in comparison to pork and
poultry. In addition, the market is expected to witness significant growth
owing to food safety issues such as chemical residue and pathogen detection in
other meat products.
Ground beef were the largest consumed product, with demand
exceeding 29,500 kilo tons in 2013. Popularity of ground beef comes from its
use in hamburgers and meat balls. Beef steaks are expected to be the fastest
growing segment due to increased preference for high quality beef, particularly
in North America. The segment is expected to witness growth at an estimated
CAGR of 1.24% from 2014 to 2020.
Browse full research report on Beef market: http://www.grandviewresearch.com/industry-analysis/beef-market-analysis
Further key findings from the study suggest:
- The
global beef demand was 67,421 kilo tons in 2012 and is expected to reach
72,931 kilo tons by 2020, growing at a CAGR of 1.15% from 2014 to 2020
- Asia
Pacific is expected to be the largest regional market for beef with
revenue exceeding USD 580 billion in 2013. Growing disposable income of
China coupled with high preference towards red meat is expected to be a
key driver for the market over the forecast period.
- North
America was a significant contributor to beef demand with consumption in
excess of 12,000 kilo tons in 2013. The RoW market is predominantly driven
by growing demand in countries such as Brazil, Mexico and Chile.
- Increasing
demand for halal beef in predominantly Islamic nations in Middle East and
Africa is expected to be a key factor having a positive impact on the
market over the forecast period. The demand for Kosher beef is expected to
increase in North America owing to consumer preference towards safe
quality and healthier beef.
- The
global market was moderately consolidated with the top four companies
accounting for over 70% of the market in 2013. The key companies in the
market include Tyson Foods, JBS, National Beef Company and Cargill Meat
Solutions.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
For the purpose of this study, Grand View Research has
segmented the Global Beef market on the basis of grade, product and region:
• Beef Grade Outlook (Volume, Kilo Tons;
Revenue, USD Billion, 2012 - 2020)
• Kosher
• Halal
• Others
• Beef Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2020)
• Ground beef
• Steaks
• Cubed beef
• Beef Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• Kosher
• Halal
• Others
• Beef Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2020)
• Ground beef
• Steaks
• Cubed beef
• Beef Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-beef-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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