DUBLIN, May 5, 2022 /PRNewswire/ — The “Global Beef Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Insights, Outlooks, Impact of COVID-19, Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
Global Beef Industry is expected to reach US$271.6 Billion in 2027
Over the years, beef has been preferred over other meats such as mutton or pork. The lower price of beef compared to goat meat especially in India has also nudged the consumers to shift towards beef, thereby increasing its consumption.
Besides, the rising demand among consumers for convenience food has aided in the increased consumption of the beef market globally. In addition, the beef is sold under the Halal and Kosher label claims, which has also assisted in wide acceptability among the middle-eastern consumers- leading to its market expansion worldwide.
Increasing Popularity of Plant-Based & Vegan Products Poses a Major Threat to The Beef Market:
The shift in consumer lifestyles and the rising working population have increased beef sales. Manufacturers in the organic beef market are offering more ready-to-eat products to increase their consumer base.
Moreover, in recent years the industrialization of the food industry in several regions around the world has diverted gears, due to which the production of beef is witnessing a considerable growth worldwide.
However, the demand for beef continues to remain steady, the increasing popularity of plant-based and vegan products is likely to pose a significant threat to the beef market during the forecast period.
Slowdown in Meat Industry Due to COVID-19 to Influence Market Growth:
The onset of the COVID-19 pandemic slowed down growth in the global beef market, especially in the first half of 2020. The COVID-19 related temporary shutdown and slowdown of the meat processing industry had slow growth in the market curve for beef in 2020 However, the demand from e-commerce and online retail stores amidst the enduring COVID-19 pandemic is projected to stimulate the sales of beef and beef products in 2021. However, due to the unsteady economy and the growing apprehension related to inflation, the global beef industry is on the course to witness a sluggish growth period in the upcoming years.
United States of America, Brazilianand European Union Witnesses Consistent Growth:
The report covers the production market of the United States, Brazilian,European Union, China, Argentina, India, Australia, Mexico, Russiaand Canada. Beef production across these countries has witnessed consistent growth over the past few decades. United States, Brazilianand the European Union remain the top three beef-producing countries around the globe.
Furthermore, the global beef demand significantly influences the overall production of beef and beef-related products in the worldwide market. Besides, the entry of various cold storage alternatives, the exponential rise in the number of local butchers, and the growing demand for protein-rich food products are some of the significant factors anticipated to fuel the expansion of the global beef market during the forecast period. .
Beef Consumption Highest in the United States:
United States remains one of the most prominent players performing in the current beef market, tracked by China and Brazilian. The volume of beef consumption in the United States is envisioned to witness substantial augmentation in the forthcoming years despite the increasing number of consumers gradually leaning toward consuming non-meat products. The considerable rise in disposable incomes, specifically in developing nations such as Brazilian and Chinahas been critical in increasing the demand for beef in recent years.
Nevertheless, middle-income nations are anticipated to push the demand for beef during the forecasted period. While the consumption of beef is expected to rise in the US, Australiaand Canadathe market is likely to divert from the European nations, owing to the tectonic transition toward non-meat and plant-based products, rising consumer consciousness, and growing awareness regarding the negative impact of beef on human health.
Worldwide Imports Market and Exports Market of Beef Industry:
The report covers the United States, China, Japanese, South Korea, Russia, Chili,European Union, Hong Kong, Egyptand Malaysian as importing countries. Amongst the importing countries United States, Chinaand Japanese are the top beef importers globally.
In terms of export Brazilian and India account for a significant market share. The worldwide export of beef has peaked and is expected to continue, supported by the upward consumption trend worldwide. Moreover, developed economies are registering stable growth during the forecast period. Additionally, emerging markets are expected to grow slightly faster than the developed markets in the forecast period.
Key Market Players:
The market players functioning in the current beef market persist in addressing preservation challenges associated with beef storage, the need for both, non-cured.
In addition, cured beef products are also witnessing sizeable growth. Furthermore, with increasing awareness about the adverse impact of the beef industry on the environment, players performing in the current beef market landscape are anticipated to seek novel ways to minimize their footprint on the environment.
The key players covered in the market are
Key Topics Covered:
2.Research & Methodology
4.1 Growth Drivers
5.Global Beef Market
6.Global Beef Market & Volume
7. Market Share – Global Beef Analysis
7.1.1 Production by Countries
7.1.2 Consumption by Countries
7.1.3 Import by Countries
7.1.4 Export by Countries
7.2 Market Share
7.2.1 Production by Countries
8. Producing Countries – Global Beef Market & Volume
8.1 United States
8.3 European Union
9. Consuming Countries – Global Beef Market
9.1 United States
9.4 European Union
10. Importing Countries – Global Beef Market
10.1 United States
10.4 South Korea
10.7 European Union
10.8 Hong Kong
11. Exporting Countries – Global Beef Market
11.4 United States
11.6 new zealand
12. Porters Five Forces
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13. Key Payers Analysis
13.1 Business Overview
13.2 Recent Development
13.3 Sales Analysis
For more information about this report visit https://www.researchandmarkets.com/r/eoi6fy
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SOURCE Research and Markets