USD 928.45 billion
Beef And Veal Market Size, Share, Growth Analysis, By Type(Beef meat, Veal meat), By Distribution Channel(Supermarkets, Hypermarkets, Convenience stores, Specialty stores), By Region - Industry Forecast 2024-2031
Report ID:
SQSG30I2010 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|Tables:
64
|Figures:
79
Beef And Veal Market Insights
Beef And Veal Market size was valued at USD 928.45 billion in 2019 and is poised to grow from USD 991.58 billion in 2023 to USD 1792.55 billion by 2031, growing at a CAGR of 6.80% in the forecast period (2024-2031).
Global meat production has increased by 59% over a decade and is expected to grow due to increasing population and meat consumption. Argentina and the US are the leading consumers of beef and veal globally with the consumption of 36.85 kg/capita annually and 26.08 kg/capita annually respectively. The global beef and veal consumption stood at 71.45 million metric tons in the year 2021 and is expected to grow to 77 million metric tons in the year 2030 of which the US held the largest share with 12.40 million metric tons in 2019 followed by China with 8.60 million metric tons and Brazil with 7.42 million metric tons.
According to USDA data on agricultural imports 2022, the US imports more beef and veal than it exports and Canada is the largest supplier accounting for 27% of the total imports followed by Australia and Mexico which stood at 24% and 22.1% of the total volumes. Hence, the growing demand for meat is driving the global beef and veal market growth during the analysis period. Moreover, the increase in number of fitness enthusiasts is likely to propel the demand for meat items at a larger scale.
US Beef And Veal Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Beef Meat
Fastest Growth
Beef Meat
Growth Rate
6.80% CAGR
Global Beef and Veal Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Beef And Veal Market Segmental Analysis
Global beef and veal market is segmented on the basis of type, distribution channels, and region. Based on type, the market is segmented into Beef and Veal. Based on distribution channel, the market is segmented into supermarkets, hypermarkets, convenience stores, specialty stores, and online retail platforms. Based on region, the beef and veal market segmentation spans North America, Europe, Asia-Pacific, South America, and MEA.
Beef And Veal Market Analysis by Type
The beef and veal market are segmented into beef meat and veal meat based on the type of market. The beef meat segment accounted for 39% of the global meat market in the year 2022 and is expected to retain the dominating stance throughout the analysis period. As veal is consumed less as compared to beef due to low meat and higher cost of production. Increasing demand for animal protein and growing awareness regarding health benefits will boost the beef meat demand during the analysis period. Consumer behavior regarding beef and veal consumption is growing year on year which will show a positive impact on the market and help in beef and veal market growth during the forecast period.
Global Beef and Veal Market By Type, 2021 (%)
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Beef And Veal Market Regional Insights
In 2022, according to USDA agricultural report, US beef and veal industry alone contributed 17% of the US$ 390 billion total revenue generated by agricultural commodities. North America is one of the dominating beef and veal markets globally. This dominance is due to the presence of countries like the US, Canada, and Mexico who are among the largest beef and veal producer and exporters and contribute to the beef and veal market in the region. Brazil and Argentina are one of the largest beef and veal consumers globally with 10.4 million metric tons and 3.5 million metric tons of beef consumption according to USDA, in the year 2021.
The Asia Pacific region is expected to grow at a CAGR of more than 6.4% through the analysis period and China is the largest consumer and producer of beef and veal in the Asia Pacific followed by India which only promotes the slaughter of water buffalo.
Global Beef and Veal Market By Geography, 2021-2028
- Largest
- Fastest
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Beef And Veal Market Dynamics
Beef And Veal Market Driver
Growing demand for meat-based protein sources globally
- Increasing awareness regarding the benefits of meat-sourced protein on human health is a primary driver of the beef and veal market as it is nutrient-dense and packed with amino acids that can be useful in multiple ways. Shifting consumer choice toward low calories and high protein food is pushing the demand for red meat.
- Increasing the use of beef in the food and beverages industry with the various processed item like deli meats, sausage, and beef jerky also help the market growth.
Beef And Veal Market Restraint
The growing environmental effects and popularity of meatless meat is a major restrain
- Increasing environmental effects due to methane (which is a greenhouse gas) emitted by cattle has seen major protests by environmentalists. Also, unethical practices in the animal husbandry sector made people go away from beef and veal meat.
- Growing popularity of the vegan diet that excludes meat and dairy products and the trend of meatless meat (plant-based meat) are some of the major factors restraining the market growth.
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Beef And Veal Market Competitive Landscape
The global beef and veal market is relatively fragmented, with a high level of competition. Few large players, like Tyson Foods Inc., Cargill Inc., and National Beef Packing Company LLC., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Beef And Veal Market Top Player’s Company Profiles
- Tyson Foods Inc.
- JBS S.A.
- Cargill Inc.
- National Beef Packing Company LLC
- Marfrig Global Foods S.A.
- Minerva S.A.
- Nipponham Group
- NH Foods Ltd.
- Beijing Sanyuan Foods Co. Ltd.
- Danish Crown A/S
- Vion Food Group Ltd.
- Sysco Corporation
- Hormel Foods Corporation
- Danish Crown Beef
- Frigorífico Concepción S.A.
- Japfa Ltd.
- FPL Food LLC
- Greater Omaha Packing Co. Inc.
- Westfleisch eG
- ABP Food Group
Beef And Veal Market Recent Developments
-
In April 2022, Hormel Foods Corporation announced its organic meat products demand growing up and it has shown a growth of 37% over the last two years which is more than the overall meat market which has only grown by 20% in the same period.
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In April 2022, the per capita meat consumption of meat in Germany decreased by 600 grams as compared to 2021. This report also shows a decline in total meat production too which is 2.4% lower than the previous year.
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In February 2022, Tyson Foods Inc. announced its investment into a US$ 355 million bacon production facility in bowling green. This will help the company to meet the rising demand for bacon products and long-term growth in the beef and veal industry.
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In January 2022, the USDA reported a decline in cattle headcount slaughtered because of soring price of beef by 17% as compared to 2021 which has led to increased input cost and reduced output.
Beef And Veal Key Market Trends
- The beef and veal market has witnessed exponential growth over the past years because of the growing demand for meat-based protein and fast food raising globally. Multiple QSRs providing 100% beef burgers and hotdogs are growing in the US rapidly due to the swelling demand for meat-based foods. Rising demand for organic meat also contributed a lot to the market as the sales of organic meat have grown by 37% over the last year which is more than the overall meat industry growth. This will also push the beef and veal market growth during the analysis period.
- Beef and veal market has witnessed a price hike per pound of meat which is encouraging ranchers to increase the herd size and earn more profit.
Beef And Veal Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global beef and veal market report analysis, Beef meat accounts for 41%of the global meat market in the year 2022, and beef meat will retain the dominating stance throughout the analysis period. Global meat production has increased by 55% over a decade and is expected to grow due to increasing population and meat consumption. North America is one of the most dominating market globally.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 928.45 billion |
| Market size value in 2031 | USD 1792.55 billion |
| Growth Rate | 6.80% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Beef And Veal Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Beef And Veal Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Beef And Veal Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Beef And Veal Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Beef And Veal Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Beef And Veal Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Beef And Veal Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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