Asia Pacific Plant-Based Beef Market Outlook, 2029

The Asia-Pacific region is experiencing a surge in popularity for beef Beef is becoming a more popular protein of choice, finding its way onto dinner tables from bustling cityscapes to quiet countryside villages. This growing love for beef is fueled by a few key factors. Beef is a rich source of protein, essential for building and maintaining strong muscles. It's also packed with essential vitamins and minerals like iron, which helps carry oxygen throughout the body, and zinc, which supports a healthy immune system. Beyond the nutritional benefits, beef offers a delightful eating experience. The variety of cuts, from melt-in-your-mouth tenderloin to flavorful short ribs, allows for delicious culinary creations. Whether sizzling on a grill, simmering in a stew, or thinly sliced for a hot pot, beef brings a satisfying heartiness to meals. This rising demand for beef is creating a dynamic market in the APAC region, with producers, retailers, and consumers all playing a part in shaping the future of beef across Asia and the Pacific. According to the research report, "Asia-Pacific Beef Market Outlook, 2029," published by Bonafide Research, the beef market in Asia-Pacific is projected to grow at a CAGR of 16.5% over the forecast period. Across the region, countries are seeing a rise in demand for this popular protein. This is due to several factors, including growing economies and increasing disposable incomes. With more money in their pockets, consumers are looking to add variety to their diets, and beef is a delicious and versatile option. Urbanization is another key driver, as busy lifestyles lead people towards convenient protein sources that can be easily incorporated into meals. Beef fits the bill perfectly, offering quick preparation and a satisfying taste. This trend is particularly strong in countries like China, where a growing middle class is developing a taste for beef. The Asia-Pacific region is also home to some major beef producers, like Australia and India. This local production helps to meet the rising demand and ensures a steady supply of beef for consumers. The beef scene across Asia-Pacific is a diverse one, reflecting the rich cultures and preferences of the region. In China and Japan, for example, there is a strong emphasis on cuts with a good amount of marbling, the fatty streaks that run through the meat. This kind of beef is prized for its tenderness and flavor, often used in thin slices for dishes like hot pot or sizzling on a barbecue. Southeast Asia, on the other hand, tends to favor leaner cuts. Here, beef is often used in stir-fries, curries, and noodle soups, where the focus is on the meat's savory taste rather than its melt-in-your-mouth texture. Offal, the organ meats like liver and tripe, are also more commonly enjoyed in Southeast Asia, seen as a delicious and economical source of protein. When it comes to product types, there's a mix of fresh cuts and processed meats available throughout the region. In supermarkets, there is everything from steaks and roasts to ground beef and mince. But there are also unique regional specialties. Japan, for instance, is famous for its Wagyu beef, a highly prized breed known for its exceptional marbling. Australia and New Zealand are known for their grass-fed beef, marketed for its natural taste and health benefits. Across the region, there's a growing demand for convenience foods, and this is reflected in the beef market too. Pre-marinated meats, ready-to-cook options, and frozen burger patties are becoming increasingly popular, especially in urban areas where people have busy lifestyles.

Traditional wet markets are still a dominant force in many countries, particularly in Southeast Asia. Here, shoppers can find fresh cuts displayed on stalls, with butchers offering expert advice and custom cuts. Supermarkets and hypermarkets are also major players, providing a wider selection of fresh and frozen beef cuts alongside pre-packaged and marinated options. This convenience caters to busy urban consumers and those seeking consistent quality. For a growing segment of the population, online grocery shopping is taking hold. This allows people to order beef from the comfort of their homes, with deliveries arriving fresh and chilled. Butchers and specialty stores haven't been left behind. They cater to those seeking premium cuts, offering Wagyu beef or grain-fed options alongside expert knowledge and recommendations. The rise of convenience stores provides another channel, particularly in urban areas. Here, consumers can find ready-to-eat options like pre-cooked beef jerky or microwavable beef bowls, perfect for a quick and satisfying snack. Finally, restaurants play a crucial role. From high-end steakhouses to casual burger joints, restaurants offer a variety of beef dishes, allowing people to enjoy professionally prepared meals and explore different culinary styles. China is the undisputed heavyweight champion of the Asia-Pacific beef market, holding the title for the largest producer by a wide margin. Traditionally, pork was the king of meats in China, but as the economy has boomed, so has the taste for beef. It's seen as a higher-end protein, a sign of a successful and modern lifestyle. This shift in preferences, along with a growing middle class with more money to spend on groceries, has created a huge demand for beef in China. There is a growing interest in beef as disposable incomes rise and people look for new protein sources. This trend is particularly strong in urban areas, where Westernized diets are becoming more popular. While China is a major producer, it also imports a significant amount of beef to meet this demand. Australia is a key supplier, sending large quantities of high-quality grain-fed beef across the sea. The price of beef in China has a big impact on the entire Asia-Pacific market. Because China is such a large buyer, any changes in its demand or import needs can ripple through the region, affecting prices and supply chains for other countries. So, while there are other important players in the Asia-Pacific beef market, China's sheer size and growing love for beef make it the undisputed leader, shaping the entire region's beef industry. Major companies in the Asia-Pacific region: Itoham Foods Inc, COFCO Corporation, F & G Foods Pte Ltd, JBS SA, Muyuan Foods Co., Ltd, New Hope Liuhe Co. Ltd, NH Foods Ltd, Tyson Foods Inc, WH Group Limited. Considered in this report • Geography: Asia-Pacific • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Asia-Pacific 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 • China • India • Japan • Australia 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: Asia-Pacific, Japan, Australia, New Zealand, China, Beef, Cattle, Meat, Loin, Meat, Protein, Organic. FAQ 1. How is the growing popularity of e-commerce impacting the APAC beef market? A. E-commerce is influencing the APAC beef market in two key ways. Firstly, it creates a demand for convenient and portion-controlled beef products suitable for online delivery. Secondly, it provides a platform for smaller, niche producers to reach a wider customer base, potentially expanding the market for premium or regionally specific beef varieties. 2. Beyond Wagyu, are there other regional beef breeds gaining traction in the APAC market? A. Yes, there's a growing interest in promoting indigenous cattle breeds within the APAC region. Consumers are increasingly seeking out beef with unique flavor profiles and raised with sustainable practices. Breeds like Hanwoo (Korea), Angus (Australia), and Sakura Beef (Japan) are gaining recognition and could potentially challenge the dominance of Wagyu in certain segments of the APAC beef market. 3. How are cultural preferences and religious dietary restrictions shaping beef consumption patterns in the APAC region?

A. Cultural preferences and religious dietary restrictions significantly influence beef consumption in the APAC region. For instance, in predominantly Muslim countries like Indonesia and Malaysia, there's a demand for halal-certified beef. Similarly, religious festivals and cultural celebrations can drive seasonal spikes in beef consumption across the region. Understanding these dietary restrictions and cultural nuances is crucial for beef producers and retailers when catering to the APAC market. 4. What role do sustainability concerns play in purchasing decisions within the APAC beef market? A. Consumers in the APAC region, particularly younger generations, are becoming more environmentally conscious. This translates into a growing interest in understanding the origin and production practices behind the beef they consume. Producers who can demonstrate sustainable cattle rearing methods, such as reduced reliance on antibiotics or focus on grass-fed cattle, can potentially attract a premium price point within the APAC beef market. 5. How is the development of cold chain infrastructure impacting the distribution of fresh and frozen beef products in the APAC region? A. Limited cold chain infrastructure has traditionally been a challenge for distributing fresh and frozen beef across the vast and geographically diverse APAC region. However, ongoing investments in cold storage facilities and improved transportation networks are facilitating wider distribution of chilled and frozen beef products. This improved infrastructure opens up new market opportunities for producers and increases consumer access to a wider variety of beef options.