May 09, 2022
According to the recent research report titled ‘Global Beef Market - Analysis By Cut (Brisket, Loin, Others), Slaughter Method (Kosher, Brisket), Product Application, By Region, By Country (2021 Edition): COVID-19 Implications, Competition and Forecast (2021-2026)’ available with MarketStudyReport, global beef market was valued at 323.45 billion in 2020 and is estimated to witness considerable growth through 2026.
Improving living conditions, increasing disposable income, and growing middle-class population are prime factors propelling the growth of global beef market.
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As individuals seek greater protein and lower-fat alternatives for a healthier lifestyle, beef is becoming more popular. In recent years, expanding population has resulted in a transformation, in spending wealth on higher-value food items such as meat protein, resulting in increased beef consumption.
Global beef market sphere is segregated in terms of the cut type, slaughter method, product application, and regional analysis.
As per cut type, the market is divided into loin, brisket, and others. The other cuts sector held the largest market share in terms of revenue in 2020 and is predicted to have high growth during the forecast duration due to increased demand for shank, plate, ribs, chuck, round, and flank of beef. Furthermore, grass-fed brisket is in high demand lately due to its low-fat content and lower calorie count than regular beef.
In terms of slaughter method, the market is divided into kosher and brisket segments. The product applications of this business space include retail & grocery stores, foodservice customers, and others.
The regional analysis of global beef industry spans across the Middle East & Africa, Europe, North America, Latin America, and the Asia Pacific. North America is predicted to hold the largest market share by 2026 due to the growing demand for processed beef across the region.
The competitive landscape of global beef marketplace is defined by companies such as Perdue Farms, Cargill Meat Solution Corporation, OSI Group, Hormel Food Corporation, Danish Crown AmbA, Marfrig Global Foods, Minerva Foods, JBS S.A., Sysco Corporation, and Tyson Foods Inc.