Beef Market Size, Share, Growth Analysis, By Cut(Brisket, Shank, Loin and Others), By Slaughter Method(Kosher, Halal and Others), By Region - Industry Forecast 2024-2031

Global Beef Market size was valued at around USD 417.04 billion in 2022 and is expected to rise from USD 440.06 billion in 2023 to reach a value of USD 676.38 billion by 2031, at a CAGR of 5.52% during the forecast period (2024–2031).

Global consumers' food preferences have experienced a number of significant shifts as a result of growing global. Consumers are consuming more protein, which is driving up demand for beef. In addition to saving a ton of time and effort in the kitchen, meat and its products are jam-packed with a variety of vital components and nutrients. As a result, producers are mainly concerned with the quality of the flesh and its by-products.

One of the main elements influencing the market is the growing demand for animal-sourced protein and rising health consciousness among the general population. Consumer preferences are quickly changing in favor of food items with high protein content and minimal fat and calorie content due to changing dietary habits. 

Additionally, beef's growing use in the food sector is helping the market to expand. To offer customers genuine and multi-cuisine dishes, many cafes and eateries serve beef-based burgers, hotdogs, sausages, filets, steaks, and stews.

The rise in disposable income of middle-class consumers in developing nations in Latin America and the Asia-Pacific, as well as the significant demand for convenience foods among the working population and the younger generations who enjoy cooking at home, are some of the main factors driving the demand for meat. The busy daily schedules of consumers have broadened the market potential for ready-to-eat meat products globally over the past few years.

US Beef Market is poised to grow at a sustainable CAGR for the next forecast year.