North America Plant-Based Beef Market Outlook,2029

The North American beef market is a major player on the global scene, due to the economic strength of the United States, Canada, and Mexico. The US leads the pack, with industry giants like Tyson Foods, Cargill, JBS SA, and National Beef Packing Company at the forefront. Consumer preferences are a key driver, with demand for different cuts and types of beef constantly evolving. Recently, there's been a growing interest in higher-quality options, with a focus on premium cuts and specialty beef. This goes hand-in-hand with the increasing popularity of convenience foods – pre-packaged and seasoned beef products are finding favor with busy consumers. The rise of online shopping has also impacted the market, offering new avenues for beef producers and retailers to reach customers. Branding and attractive packaging are crucial for catching the eye of shoppers in a crowded marketplace. Holidays like Independence Day, Labor Day, and barbecues season see a surge in demand for beef, as families gather and celebrate. With a wide variety of cuts, grinds, and preparations available, the North American beef market caters to diverse tastes and budgets. Even health-conscious consumers can find options that fit their needs, with producers offering leaner cuts and promoting the nutritional value of beef. According to the research report "North America Plant-Based Beaf Market Overview, 2029," published by Bonafide Research, the North America Plant-Based Beaf market was valued at more than USD 400 Billion in 2023. On the positive side, there's a growing trend of unplanned purchases, where shoppers see delicious beef and decide to whip up a tasty meal. This points to a desire for convenience and flavor. Another trend is the rise of premium cuts, with consumers willing to splurge on high-quality steaks and roasts. Driving this growth is the overall strength of the US, Canada, and Mexico's economies. But it's not just about indulgence – health is a big factor too. Producers are responding to concerns about diabetes and obesity by offering lower-fat options, making beef a more balanced part of a healthy diet. However, the road isn't all smooth. Regulations aimed at ensuring safe and high-quality beef can add complexity to the supply chain. Additionally, the ever-present focus on fitness might lead some to cut back on beef. Despite these hurdles, the market is innovating by offering healthier choices. The biggest crowd goes for the ever-popular ground beef. This versatile option is affordable, easy to cook, and perfect for everything from burgers to tacos. Next up are steaks, the crowd-pleasers of barbecues and special occasions. From juicy ribeyes to flavorful flank steaks, there's a cut for every taste and budget. Roasts are another favorite, ideal for slow cooking and feeding a crowd. They come in various sizes and cuts, like the tender prime rib or the budget-friendly chuck roast. For those seeking convenience, pre-packaged and seasoned beef is a game-changer. These marinated or seasoned options take the guesswork out of meal prep, perfect for busy weeknights. Butchers also offer specialty cuts for adventurous cooks. These might include offal for adventurous palates or unique cuts like brisket, ideal for slow cooking and smoking. Loin is known for its tenderness, perfect for grilling flavorful steaks. Chuck roast lovers appreciate its marbling for slow-cooking delicious meals. Round cuts are popular for their leanness, ideal for health-conscious consumers. Brisket is a favorite for those who love slow-cooked barbecue delights, while ribs are perfect for special occasions with their impressive bone-in presentation.

When it comes to where people buy their beef, there are a few main channels. The biggest players are hypermarkets and supermarkets, offering a wide variety of cuts and brands to satisfy most shoppers. Specialty butcher shops cater to another segment, where customers prioritize high-quality, locally-sourced beef and are willing to pay a premium. Wholesale clubs like Costco attract those who buy in bulk, often for families or restaurants. E-commerce is a growing channel, allowing busy consumers to order beef online and have it delivered straight to their doorstep. This is particularly appealing for those seeking specific cuts or specialty products. Butcher shops and online retailers might target health-conscious customers by offering grass-fed or organic options. The US boasts the largest cattle herd and beef production in the region, with industry giants like Tyson Foods and Cargill having their headquarters in USA. This dominance is fueled by several factors. First, the US has a strong agricultural infrastructure with vast areas of land suitable for cattle ranching and feed production. Second, consumer demand for beef is deeply ingrained in American culture, with barbecues and steak dinners holding a special place in many households. Finally, the US government often provides subsidies and support to the beef industry, further solidifying its position. However, Canada and Mexico are also significant players, with their own well-established ranching traditions and growing export markets. Despite its lead, the US faces challenges like competition from abroad and changing consumer preferences for health-conscious options. Early on during COVID-19, lockdowns and social distancing measures disrupted the supply chain. Meatpacking plants, where cattle are processed into cuts for consumers, were hit hard by outbreaks among workers, forcing them to slow down or even temporarily shut down. This backlog of cattle and limited processing capacity caused a dip in beef production and sent shockwaves through the market. Prices for cattle ranchers also took a tumble as demand from restaurants, which were largely closed, plummeted. Consumers, on the other hand, faced shortages and sometimes higher prices at grocery stores due to the limited supply. However, the market showed signs of resilience. Grocery stores remained open, and with people cooking more at home, beef remained a popular choice. Online grocery shopping also boomed, offering a new avenue for consumers to get their beef fix. As restrictions eased and restaurants reopened, the market gradually rebounded. To ensure consumers get a good piece of meat, several regulations are in place. These regulations can be like a recipe with various ingredients. One key part is the oversight by government agencies like the USDA (United States Department of Agriculture) in the US, the Canadian Food Inspection Agency (CFIA), and SENASICA (Servicio Nacional de Sanidad, Inocuidad y Calidad Agroalimentaria) in Mexico. These agencies set standards for everything from animal feed and raising practices to slaughterhouse procedures and labeling. Major companies in the region: Tyson Food Inc, Cargill, JBS USA Holdings, Inc., National Beef Packing Company, LLC, Marfrig Global Foods, J.R. Simplot Company, Greater Omaha Packing Co., Inc.. Considered in this report • Geography: Global • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • North America beef market with its value and forecast along with its segments • Country-wise beef market analysis • Various divers and challenges • Ongoing trends and developments • Five force models • Top profiled companies • Strategic recommendation Countries covered in the report • United States • Canada • Mexico 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: North America, USA, US, Canada, Mexico, Beef, Cattle, Meat, Steak, Loin, Brisket Chuck, Rib, Meat, Protein, Organic, Sustainable. FAQ 1. How is the growing popularity of plant-based meat alternatives impacting the North American beef market? A. The rise of plant-based alternatives is a significant trend, particularly among younger consumers and those seeking healthier options. While it may lead to some substitution, beef remains a staple protein source in North America. The industry is responding by emphasizing the sustainability and nutritional benefits of beef, while also exploring plant-based combination products. 2. Are there any specific cattle breeds favored by North American beef producers? A. North American beef production is dominated by breeds like Angus and Hereford, known for their marbling and meat quality. However, there's a growing interest in heritage breeds like Wagyu for their premium flavor and fat content. Understanding these preferences is crucial for producers catering to specific market segments. 3. Beyond supermarkets, where else are North American consumers purchasing beef? A. Direct-to-consumer (D2C) sales through online platforms and farm stands are gaining traction, offering consumers greater access to local and specialty beef products. Additionally, the popularity of meal kit delivery services that incorporate high-quality beef is influencing purchasing habits. 4. How are technological advancements impacting cattle production and processing within the North American beef market? A. Precision agriculture techniques like using sensors to monitor animal health and optimize feed rations are improving efficiency and sustainability. Furthermore, automation in slaughterhouses and processing facilities is enhancing processing speeds and product consistency.

5. What are the key considerations for North American beef exporters looking to reach new international markets? A. Understanding cultural preferences and religious dietary restrictions is crucial. Furthermore, navigating international trade regulations and ensuring compliance with food safety standards are essential for successful entry into new markets.