Dublin, Sept. 28, 2020 (GLOBE NEWSWIRE) -- The "Global Beef Market - By Beef Cut (Shank, Brisket, Loin, and Others), By Slaughter Method (Halal, Kosher, and Others), and By Region - Industry Perspective, Comprehensive Analysis, and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global Beef market is slated to accrue revenue worth nearly 395.43 (USD Billion) by 2026 and record the CAGR of about 3.3% over the period from 2020 to 2026.
The report offers assessment and analysis of the Beef market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
The escalating demand for beef as a major source of protein is escalating globally, although in most countries beef contributes considerably lesser than 50% of overall meat intake. Furthermore, beef enriches the eating experience of consumers in developed countries as well as in emerging economies. Natural resources encompasses utilization of land for cattle, access to livestock feed, and the strength of the economy of the nation are key determinants of the beef sustainability. Moreover, the sustainability of production of beef has myriad interpretations across a spectrum of topographical and socio-economic regions across the globe based on the beliefs, rules, religious customs, traditions, and livelihoods of a particular region.
As per NCBI, EU was one of the largest beef producers in 2018 across globe with comparatively low GHG emission. However, varied differences in climatic conditions, availability of grass, and farming techniques has resulted in income variations of beef manufacturer as well as different output in these regions. Furthermore, Europe has a variety of beef farming structures as well as supply chains with the beef producing systems fulfilling the beef requirements of the sub-continent based on the climate, location, per capita income, and social requirements of each area or country of the sub-continent.
Additionally, according to NCBI records, Australia was one of the largest exporter of the beef in 2018 with consumer driven modelling method contributing massively towards the growth of the beef industry in the region. Apart from this, the tool proved effective in assessing beef palatability not only in Australia but also across myriad countries of the globe with European countries being the most prominent to use the technique.
Market Growth Dynamics
Growing demand for protein-rich diet along with the contribution of beef production towards food security & socio-economic well-being of rural communities in European countries will steer the market growth. In addition to this, gastronomic pleasure of beef intake by urban & rural customers in European continent will drive the market growth trends. Furthermore, beef also provides vital nutrients to the consumers and this will further embellish the industry growth over the forecast timeline.
Additionally, surging urbanization and rise in the population across the globe along with requirement for feeding the population are some of the key aspects likely to steer the business growth over the forecast period. Rapid spread of diseases in the pork and poultry have led to growing popularity of beef among the customers. Apart from this, escalating demand for kosher as well as halal beef is predicted to propel the industry growth in the foreseeable future.
Asia Pacific Market To Acquire Leading Position Across Global Market By 2026
The regional market growth during the forecast period is attributed to countries like China, Thailand, Australia, and Japan contributing towards major beef production. Apart from this, rapid changing beef intake dynamics in Asia along with upsurge in the economic growth witnessed in Asian countries will steer the market expansion in the region. Also, there is an exponential inflation in the livestock population in the emerging countries of the region including south-east nations. Massive use of concentrate animal feeds for enhancing growth in animals & meat quality will further carve a profitable growth trajectory for the market in the region.
On other hand, China ranked third in the beef production across the globe in 2018. Beef is a main component of livestock rearing & meat production in the country. Moreover, a prominent increase in beef intake and surge in gross domestic beef production due to swift economic growth in China will further drive the market trends in Asia Pacific zone.
Key market players profiled in the report include are
Tyson Foods Inc
Marfrig Global Foods S.A.
For more information about this report visit https://www.researchandmarkets.com/r/mxxacy
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