Beef Market is predicted to reach USD 650.9 Billion at a CAGR of 5.60% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Beef Market”

that contains information from 2018 to 2032. The beef market is estimated to register a CAGR of 5.60% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Beef market— JBS SA, National Beef Packing Company, LLC, American Foods Group, LLC, Agri Beef Co., Perdue Farms Inc., Tyson Foods, Inc., Strauss Brands LLC, Cargill Incorporated, Central Valley Meat, and Danish Crown A/S.

Beef Market Highlights

The global beef market is accounted to register a CAGR of 5.60% during the forecast period and is estimated to reach USD 650.9 Billion by 2032.

The market for beef is a developing industry that produces meat products without traditional animal killing by using cellular agriculture. In a lab, animal cells are cultured to produce meat-like products. In the upcoming years, it is anticipated that the industry would grow quickly because to the rising demand for sustainable and ethical food solutions.

Segment Analysis

The global beef market has been segmented based cut type, and distribution channel.

On the basis of cut type, the market is segmented into ground, roasts, steaks, and others. Ground segment accounted for the largest revenue share in 2022. Since ground cut is more economical than other cuts, it is more affordable for various economic sectors.

Based on distribution channel, the global beef market has been segmented into retail sales, horeca, and butcher shops. Retail sales segment dominated the global Beef market in 2022. Beef accounts for a sizable portion of annual household budget.

Regional Analysis

The global Beef market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Beef market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Beef market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Beef market comprises of Middle East, Africa, and Latin America.

The North America Beef Market dominated this market in 2022 (45.80%) The presence of effective and dependable infrastructure, such as cutting-edge processing facilities and transportation networks, as well as intellectual expertise on subjects like genetics, meat quality, and legal property rights, assist the market in the region. North America is the primary producer of beef for both home and foreign markets. The majority of beef cattle are fed grass at some point in their life, despite the fact that North America's grasslands are the most vulnerable terrestrial ecosystem due to climatic and commercial pressures.

Moreover, in 2022, Europe's market for Beef held a sizable market share. This is so that high-quality products may be produced for the rising consumer base thanks to the region's wide variety of cow breeds. France, Germany, and the United Kingdom are some of the nations that purchase the most of these products.

Additionally, from 2023 to 2032, the Asia Pacific Beef Market is anticipated to experience significant expansion. The biggest beef markets in the Asia Pacific region include China, India, Pakistan, Japan, and Australia. China is one of the world's greatest markets for beef as a result of the nation's massive increase in consumption, which is being pushed by expanding disposable incomes. Continual shortages and workforce constraints, particularly those brought on by the pandemic in nations like China, are projected to sustain the rising import of frozen beef, with Australia remaining the leading supplier.

Furthermore, the rest of the world's Beef market is divided into the Middle East, Africa, and Latin America. Latin America's market for Beef is growing as a cutting-edge and environmentally friendly substitute for conventional meat manufacturing. The industry is positioned for significant growth, attracting investments and technological advancements as a result of the region's rising demand for protein and growing concerns about environmental impact and animal welfare.

Key Findings of the Study

• The global Beef market is expected to reach USD 650.9 Billion by 2032, at a CAGR of 5.60% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to China, India, Pakistan, Japan, and Australia are the major beef markets in the Asia Pacific region.


• Based on distribution channel, the retail sales segment was attributed to holding the largest market in 2022.


• JBS SA, National Beef Packing Company, LLC, American Foods Group, LLC, Agri Beef Co., Perdue Farms Inc., Tyson Foods, Inc., Strauss Brands LLC, Cargill Incorporated, Central Valley Meat, and Danish Crown A/S.