Global Plant-Based Beef Market Outlook, 2029

Beef, a juicy and flavorful meat enjoyed worldwide, comes from cattle. These include cows, bulls, and oxen, raised for their meat and other products like milk and leather. Beef provides essential nutrients like protein, iron, and vitamin B12, making it a popular dietary choice for athletes, growing children, and people seeking a healthy source of protein. From sizzling steaks enjoyed on special occasions to flavorful ground beef used in everyday meals like burgers and tacos, there is a cut for every culinary preference. The global beef market is a giant network of ranchers who raise cattle, processors who transform the animals into various cuts and products, distributors who transport the beef, and retailers who stock it on our supermarket shelves. This complex industry plays a vital role in feeding the world's population, and its reach extends far beyond the farm. Beef production is a cornerstone of many rural communities, providing jobs and economic activity. It also shapes cultural traditions around the world, with many cuisines featuring beef as a central ingredient in iconic dishes. The report, titled, "Global Beef Market Outlook, 2029," published by Bonafide Research, states that the market is projected to grow rapidly at a CAGR of 14.5 % over the forecast period. The global beef market is projected for steady growth, driven by several key factors. Rising incomes in developing nations like China and India fuel consumer demand for protein-rich foods like beef. Additionally, urbanization and the growing popularity of convenient dining options like fast food and restaurant meals are driving demand for processed beef products. Consumer preferences within the beef market are also evolving. While affordability remains a concern, a growing health-conscious segment seeks premium cuts perceived as higher quality and ethically sourced. This trend is reflected in the increasing popularity of grass-fed beef and organic options. Sustainability is another key factor influencing the market. Environmental concerns surrounding beef production are prompting some consumers to opt for smaller portions or explore alternative proteins. In response, the beef industry is actively addressing these concerns by implementing sustainable practices and promoting responsible cattle raising methods. The global beef market is a diverse stage where different countries play a variety of roles. On one hand, we have powerhouse producers like the United States, Brazil, Argentina, and China with US being the largest consumer of beef globally. These countries boast large cattle herds and efficient production systems, making them major suppliers of beef for the world. On the other hand, there are countries like Japan, South Korea, and some in the Middle East that are major consumers but have limited domestic production. These countries rely on imports to meet their high demand for beef. Trade plays a critical role in balancing this global equation. Countries with a surplus of beef can export it to those with a shortage, ensuring everyone has access to this popular meat. However, trade policies and unexpected events like disease outbreaks can disrupt these flows. For example, a major outbreak of foot-and-mouth disease in a producing country could lead to import restrictions from other countries, impacting both the supplier and the importers who rely on their beef. Looking beyond these major players, there are also regions with unique characteristics. For instance, Europe is known for its emphasis on high-quality, grass-fed beef and is a major exporter of luxury cuts. Meanwhile, developing countries in Southeast Asia are experiencing a rise in beef consumption as their economies grow. This presents new opportunities for producers around the world to cater to this growing demand. The global beef market is sizzling with growth, driven by several key trends. Rising incomes in developing countries like China and India are putting more money in people's pockets, leading them to seek out protein-rich foods like beef. Busy lifestyles and growing urbanization are also fueling demand for convenient options like processed beef products and restaurant meals. However, consumer preferences are evolving. While affordability remains important, a health-conscious segment is looking for premium cuts perceived as being higher quality and raised ethically. This is evident in the rise of grass-fed and organic beef options. Sustainability is another hot topic. Concerns about the environmental impact of beef production are prompting some consumers to reduce their intake or explore alternative proteins. In response, the beef industry is innovating with sustainable practices like responsible cattle raising methods to lessen the environmental footprint. The global market is also a complex web of international trade. Countries like Brazil and Argentina are major producers, while others like China are significant importers as their domestic demand grows. Cultural preferences also play a role. Religious beliefs in some countries can impact beef consumption, while established culinary traditions influence how beef is enjoyed in different regions. From the love of burgers in the US to the appreciation for Wagyu steaks in Japan, the global beef market is a diverse and fascinating space that continues to evolve. Governments set guidelines for animal welfare, food safety, and environmental impact, influencing how beef is raised and processed. Certifications like organic or grass-fed can give producers an edge in the market by appealing to health-conscious consumers. Beef also faces competition from substitute products. The rise of plant-based meat alternatives is a growing trend, driven by concerns about health, sustainability, and animal welfare. These alternatives offer similar taste and texture to beef, appealing to environmentally conscious consumers or those seeking to reduce their meat intake. The beef industry is responding to this challenge by highlighting the unique qualities of beef, its nutritional value, and the efforts being made towards sustainable production. To stay competitive, the beef industry is focusing on promoting its own positive aspects. Advertising and marketing campaigns highlight the nutritional value of beef, its role in traditional cuisines, and the industry's commitment to sustainability and ethical practices. This focus on transparency and responsible production helps build trust with consumers and ensure the long-term success of the global beef market. Major companies in the beef market are: JBS S.A., Tyson Food Inc., Cargill, Minerva S.A., NH Foods Ltd., Nipponham Holdings Inc., Danish Crown A/S, BRF S.A., Vion Food Group, Miratorg, Marfrig Global Foods S.A., Kerry Group, Sysco Corporation, American Foods Group, WH Group Limited, Hormel Foods Corporation. Considered in this report • Geography: Global • Historical year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Global beef market with its value and forecast along with its segments • Region-wise beef market analysis • Country-wise beef market analysis • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Regions covered in the report • North America • Europe • South America • Asia-Pacific • Middle-East & Africa Types of beefs in the report • Loin • Chuck • Round • Brisket • Rib • Others Cuts of beefs in the report • Ground Beef • Steaks • Roasts • Cubes • Others Distribution Channel of beefs in the report • Hypermarkets/Supermarkets • Retail Stores • Wholesaler • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to beef industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Please get in touch with our sales team to find out more. Keywords: Global, North America, South, America, Europe, Middle East, Africa, Asia, Asia-Pacific, Japan, India, China, Brazil, Beef, Cattle, Meat, Steak, Burger, Loin, Meat, Protein, Organic, Sustainable. FAQ 1. Beyond traditional cuts like ribeye and tenderloin, are there emerging trends in global beef consumption? A: Yes, there's a growing demand for alternative cuts like flank steak, brisket, and chuck roast. These cuts are often more affordable and versatile for various culinary applications. Additionally, consumers are increasingly interested in convenience options like pre-marinated or pre-seasoned beef products, catering to busy lifestyles.

2. How is the global beef market segmented by cattle breed? A: The global beef market is primarily segmented by cattle breeds like Angus, Hereford, and Wagyu. Angus and Hereford breeds are widely favored for their high meat yield and consistent quality, making them suitable for large-scale production. Wagyu beef, known for its exceptional marbling and tenderness, caters to the premium market segment. Understanding these breed preferences across different regions is crucial for market entry and product development. 3. Does the global beef market exhibit regional variations in consumer preferences? A: Absolutely. In North America and Europe, consumers tend to favor grain-fed beef with high marbling content. In contrast, Asian consumers often prefer grass-fed beef with a slightly different flavor profile. Understanding these regional preferences is vital for beef producers and exporters to tailor their offerings to specific markets. 4. How are sustainability concerns impacting the global beef market? A: Environmental concerns regarding greenhouse gas emissions from cattle production are putting pressure on the beef industry. This is leading to a rise in grass-fed and regenerative agriculture practices, which promote sustainable cattle raising methods. Additionally, consumers are increasingly interested in the origin and traceability of their beef, demanding transparency in production practices. 5. What role does e-commerce play in the global beef market? A: E-commerce is playing an increasingly important role, particularly in developed markets. Online platforms offer consumers convenient access to a wider variety of beef cuts and brands. This trend presents opportunities for direct-to-consumer marketing by beef producers and processors, potentially bypassing traditional distribution channels.