Global Beef Market 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.
Access Full Research Report on Global 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.
View More Related Reports from same Category by Grand
View Research: http://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
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.
For More Information: www.grandviewresearch.com