WILMINGTON, DE, UNITED STATES, November 5, 2024 /EINPresswire.com/ -- The global beef market size was valued at $445.1 billion in 2022, and is estimated to reach $625.8 billion by 2032, growing at a CAGR of 3.5% from 2023 to 2032.
Global awareness about sustainability has a profound impact on the beef market as consumers are more aware about their food choices and are focusing on reducing their environmental footprint. This has resulted in companies investing heavily in the production processes of beef, for reducing their environmental impact and focusing on organic farming. As a result, companies are opting for marketing, retail, and sales strategies that meet consumer expectations through maintaining various animal welfare and environmental standards. For instance, Tyson Foods launched Brazen Beef brand, which is a USDA approved climate friendly beef, to strengthen its business position in the market. Consumers are now actively seeking sustainably produced beef, which has led to a rise in demand for cattle raised using eco-friendly methods, reduced antibiotic usage, and adherence to animal welfare standards.
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The beef market is a significant sector of the global food industry, characterized by the production and distribution of beef products. It encompasses various segments, including cattle farming, beef processing, and retail sales. Beef is a widely consumed protein source, and market dynamics are influenced by factors such as consumer preferences, dietary trends, and economic conditions. Sustainability and animal welfare concerns are increasingly shaping the market, driving the demand for organic and grass-fed beef. In addition, trade agreements and supply chain management play vital roles in the international beef market growth and stability.
Beef is rich in protein content, making it a significant source of high-quality protein for consumers worldwide. Beef is renowned for its protein density, with approximately 25 grams of protein per 3.5-ounce (100-gram) serving. This protein content, along with its essential amino acids and nutrients, positions beef as a valuable dietary source for meeting protein needs, muscle development, and overall nutrition, contributing to its popularity in diets worldwide, such factors surge the beef market share.
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North America held the major share in the beef market in 2022. North America's beef market is characterized by a growing consumer preference for lean and sustainably sourced beef products. Health-conscious choices and environmental concerns drive the demand for grass-fed and organic beef. However, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period. In the Asia-Pacific region, the beef market is experiencing notable trends including population growth, urbanization, and rise in disposable incomes, which are driving increased demand for beef products.
Some of the key players in the beef market include American Foods Group, LLC, Leverandørselskabet Danish Crown AmbA, JBS S.A., Tyson Foods, Inc., NH Foods Ltd., Smithfield Foods, Inc, Marfrig Global Foods S.A., Agri Beef Co., Cargill, Incorporated, and The Kroger Co.
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