Beef is one amongst the foremost consumed meat forms within the world and is just second to pork in terms of volume consumption. There is a major supply-demand gap within the market thanks to restricted production of this meat as a result of varied environmental and political factors. Beef and veal (meat from calves) have the very best protein content compared to alternative meat forms and this can be expected to extend their demand as a key supply of protein. Acceptability of beef as a food source differs in different parts of the world. Beef can be cooked in more than a few ways such as grilling, roasting, broiling, griddle and barbeque.
The key driving factor that is accelerating the demand for the global beef market is the rise in the disposable income of the customers across the world. Growth in urbanization is another key factor that is driving the beef market worldwide. Moreover, beef is high in protein, thus the surge in awareness of high protein consumption is met by beef. In addition, the food safety problems such as pathogen detection problems and chemical residue in meat products for instance poultry and pork has augmented the call for the beef market across the world. The prominent gap between demand and supply of beef due to its limited production because of numerous environmental and political factors is one of the major factors that is restraining the demand for the global beef market. In addition, rise in price of beef in the developed markets due to limited supply of beef from North America is another restraining factor of the beef market.
The global beef market is segmented based on type of cut, slaughter and geography.
By type of cut, the market is categorised into Brisket, Shank, Loin and others. Brisket is meat round the breastbone; it's the chest or pecs of the animal and is one among the primal cuts. It is coarse-grained and thick meat and needs a lot of time and low temperature to tenderize and break down. It is one of the most flavorful cuts of the meat and is used in making corned beef, pot roast, and can be slow cooked in a barbeque or a smoker.
Based on slaughtering methods, the Beef market has been sectioned into Halal, Kosher and others. Kosher and halal meat are principally consumed by Jewish and Islamic populace respectively. North America, Europe, and Israel together account for over 80.0% of the global Jewish population. Consumers in North America favour kosher beef owing to remarkable advantages such as better food safety, quality, and gastronomy.
Growing Islamic population around the globe chiefly drives demand for the halal segment. Since Islam forbids the consumption of pork, beef has emerged as one of the most favoured forms of meat in these countries. Demand from Middle East and African countries is relatively higher, considering the makeup of the population here.
Geographically, this market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Argentina, Brazil, Africa, and Middle East were the significant regional markets in terms of consumption. These regions are expected to witness robust growth on both, domestic consumption and export grounds, which can result in firm cattle prices over the forecast period. Continued depreciation of the U.S. dollar is expected to drive Brazilian exports. Inferior production in North America may result in substantial price rises in developed markets. The Mexican market is projected to be hit by jaded demand and high prices.
Australia, India, China, Japan, and Pakistan include the key markets of the Asia Pacific region. China is one in all the world’s largest market on account of improved way, as a significance of respectable rise in income. The Indian beef market that ranks fifth on the worldwide scale, is anticipated to record further growth, with roughly half the production being exported.
The major players involved in this market are Tyson Foods, Inc., Danish Crown, Cargill, Incorporated., Marfrig Global Foods S.A., NH Foods Ltd., Minerva Foods, St Helen’s Meat Packers, Hormel Foods Corporation, JBS USA, National Beef Packing Company, LLC., Vion Food Group and AUSTRALIAN AGRICULTURAL COMPANY LIMITED.
The global Beef market is segmented by type of cut, slaughtering type and geography. Based on type of cut, this market is classified into Brisket, Shank, Loin and others.
Upsurge in the accessibility of cattle in countries such as Argentina, Paraguay, Uruguay and other is expected to serve as an opportunity to the global beef market. In addition, global demand for beef, constant cattle prices and strong pasture conditions are also likely to serve as opportunities to the global beef market. By slaughtering type, the global beef market is classified into Halal, Kosher and others.
Geographically, this market is segmented into North America, Europe, Asia-Pacific and Rest of the World. China is the world’s major market for beef. Improving lifestyle of the consumers residing in China due to a substantial rise in the disposable income of the consumers is the major factor accelerating the growth of the beef market in China. Middle East and Africa also accounts for a major part of the market share for the global beef market. In addition, countries such as Brazil and Argentina are also expected to show strong growth rate during the forecast period.
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