Beef is a culinary term for beef meat. Corned beef is meat that has been cured in a salt solution. To help preserve the meat, it was salted and cured before it was refrigerated. The largest protein content is found in beef and veal, which is predicted to increase demand as a key source of protein. Veal contains the most protein of any meat, with 33.9% per 100 grammes cooked. Pork has 29.3% protein, while chicken has 28.9%. With increased disposable income boosting beef demand, China is anticipated to be a big market. People's living standards have increased, and they now prefer beef-based products to pork and chicken-based products. Burgers and rolls made from these ingredients are becoming increasingly popular among teenagers.
Beef Market Overview:
Maximize Market Research's recently released study, " Beef Market 2023-2029," is a fantastic resource for learning about market rivals. The study undertakes a thorough and fundamental market analysis, diving into qualitative elements that might provide critical business intelligence. This report is useful in providing a more exact evaluation of the current and future dynamics of the global Beef market, as it provides a market overview comprising the value chain structure, geographical analysis, applications, market size, and forecast extending from 2023 to 2029.
Beef Market Growth Estimated:
Beef Market Size was valued at US$ 508.48 Billion in 2029. The Beef Market size is estimated to grow at a CAGR of 3.2% over the forecast period.
Beef Market Dynamics:
Consumer desire for nutritious, protein-rich meat products is driving the increase in disposable income. Consumption of these products is increasing in China and Thailand's emerging economies, particularly among the middle class. China's income has increased by double digits and is predicted to continue growing, and beef consumption is expected to increase during the forecast period. Consumers are included meat products in their diets as their living standards rise and they become more aware of the importance of animal protein. Government activities relating to the food business are another major driver driving market expansion. The Chinese government has lifted the restriction on refrigerated and frozen foods from Australia.
Beef Market Scope and Research Methodology:
The research provides a comprehensive business analysis by studying several aspects such as Beef market growth, consumption volume, market trends, and corporate pricing structures over the predicted timeframe. The analysis goes into the market's complexities through extensive research. It provides an in-depth study of the Beef market, including market characteristics, segmentation analysis, size, customer landscape, and geographic distribution. Growth drivers, current trends, innovations, opportunities, and the competitive landscape are all considered in the research. Based on productivity and manufacturing bases, the market has been scrutinised across numerous geographies.
COVID-19 Impact on Beef market:
The COVID-19 pandemic is an unprecedented global public health disaster that has profoundly affected nearly every sector, with long-term ramifications influencing industry growth throughout the forecast period. Our continuing research incorporates crucial COVID-19 issues and anticipated future actions into its methodology. The study considers modifications in consumer behaviour, changes in demand, changes in purchasing patterns, adjustments in supply chain routes, the dynamics of current market pressures, and key government activities to provide insights into the pandemic's impact. The new study includes analyses, projections, and predictions that account for the market impact of COVID-19.
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Beef Market Segmentation:
The market is divided into three categories: ground roasts, streaks, and cubed. Ground beef is predicted to account for the biggest market share over the projection period because it is less expensive than other cuts and may meet a wide range of budgetary requirements. Steaks and roasts are used in a number of dishes. These cuts are used in fine dining restaurants for guests who want premium, high-quality meals.
Brisket, Shank, Loin, and Others are the market segments based on cut. During the projection period, the brisket segment is expected to dominate the market. The rising usage of brisket in the production of corned beef around the world, particularly among Jews, is one of the causes contributing to the growth.
Key Players:
1. JBS SA
2. National Beef Packing Company, LLC
3. American Foods Group, LLC
4. Agri Beef Co.
5. Perdue Farms Inc.
6. Tyson Foods, Inc
7. Strauss Brands LLC
8. Cargill, Incorporated
9. Central Valley Meat
10.Danish Crown A/S
11.NH Foods Ltd
12.Vion Food group
13.Hormel Foods Corporation
14.St Helen’s Meat Packers
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Regional Analysis:
The regional section of the research also dives into critical market elements and changes in market rules that affect both current and future trends. New sales, replacement sales, national demography, regulatory activities, and import-export taxes are key components used to assess the market environment across different geographies. Furthermore, when offering forecast analysis for national data, the study considers the presence and availability of global brands. It also explores the issues that these global brands face, whether as a result of strong or weak competition from local and domestic companies, and the impact of sales channels.
Key Questions Answered in the Beef Market Report are:
- Which are the major companies in the Beef market?
- Which is the potential market for Beef in terms of the region?
- Which application area of Beef is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Beef market size by 2027?
- What are the growth prospects for the Beef market?
- What is the base year considered in the Beef market report?
- Which region holds the largest market share in the Beef market?
- What factors are anticipated to drive the Beef market?
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