Beef Market Research Report By Product Type (Fresh Beef, Processed Beef, Frozen Beef, Canned Beef), By Distribution Channel (Supermarkets, Online Retail, Convenience Stores, Meat Shops), By Cut Type (Steaks, Ground Beef, Roasts, Ribs), By Packaging Type (Vacuum Packaging, Modified Atmosphere Packaging, Traditional Packaging) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

Beef Market Summary

As per MRFR Analysis, the Global Beef Market was valued at approximately 399.15 USD Billion in 2023 and is projected to grow to 500 USD Billion by 2035. The market is driven by rising population growth, increasing disposable income, and a shift towards high-protein diets. Technological advancements in meat production and the expansion of fast-food chains further support market growth. However, there is a growing emphasis on sustainability and health-conscious consumer preferences, leading to increased demand for lean and organic beef options.

Key Market Trends & Highlights

The Beef Market is evolving with significant trends influencing its growth.

• Beef Market Size in 2024: 406.73 USD Billion; expected CAGR from 2025-2035: 1.9%.
• Fresh Beef projected to hold the largest share in 2024 at 160.0 USD Billion.
• North America leads the regional market in 2024 with a valuation of 140.0 USD Billion.
• Technological advancements are enhancing production efficiency, supporting sustainable growth.

Market Size & Forecast

2023 Market Size: USD 399.15 Billion

2024 Market Size: USD 406.73 Billion

2035 Market Size: USD 500.0 Billion.

Major Players

Key Companies include Hormel Foods, BRF S.A., JBS, Tyson Foods, and Cargill.

Key Beef Market Trends Highlighted

There are a number of major industry developments happening right now in the Global Beef industry. One of the main things that drives the industry is the growing desire for diets high in protein. This is especially true in emerging nations where people are eating more meat as their wages go up. People are becoming more health-conscious, which makes them want lean cuts of beef and organic beef. This is part of a trend towards quality over quantity. This trend is making the demand for hormone-free and grass-fed beef grow, which many think is healthier and better for the environment. There are also new chances to be explored in the beef industry, such as the increased demand for other forms of protein.

As more people choose to be vegetarians or vegans, beef producers are producing new ideas and adding more options to their menus, such as plant-based and lab-grown meat. As governments and businesses throughout the globe work to lessen their influence on the environment, using sustainable techniques in cattle production might lead to new markets. 

In recent years, it has become clear that people want to know where their food comes from, including cattle. Many customers are ready to pay more for beef that comes from verified sources, so being open about where it comes from and how it is made is becoming more important. Also, recent global events that have messed up the supply chain have made people more interested in buying things locally and having shorter supply chains. This might have an effect on beef markets in some areas.

As more people buy their meat online, the way beef is promoted and sold is changing. This is because more people are using e-commerce to buy food. In general, these trends show that the market is changing, with consumers' tastes changing and a focus on sustainability.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Beef Market Drivers

Increasing Global Population and Rising Protein Demand

The Beef Market Industry is significantly driven by the increasing global population, which is projected to reach approximately 9.7 billion people by 2050 according to the United Nations. This escalation in population size leads to a higher demand for protein-rich foods, including beef. Furthermore, trends show that as economies develop, there is an increased preference for meat-based diets. The Food and Agriculture Organization (FAO) also indicates that meat consumption is expected to grow by 70% by 2050, particularly in developing regions.

This growing trend can particularly influence the Beef Market as beef is often considered a staple in various cuisines across the world. The combination of a burgeoning population and rising health consciousness about meat consumption guarantees that demand in the Beef Market will continue to flourish in the foreseeable future.

Advancements in Beef Production Technology

Technological advancements in beef production are playing a crucial role in enhancing efficiency and output in the Beef Market Industry. The integration of innovative methods such as precision farming, improved animal genetics, and enhanced feed efficiency has driven productivity. Research conducted by the American Meat Institute demonstrates that technology implementations can increase beef production efficiency by up to 20% without expanding the resources used.

Such advancements allow producers to meet rising consumer demand sustainably, ensuring the continued growth of the Beef Market.

Rising Health Awareness and Shift Towards Leaner Meat Options

Health trends significantly affect consumer preferences and have led to an increasing demand for leaner beef options in the Beef Market Industry. According to a report from the World Health Organization (WHO), there is a growing awareness related to red meat consumption and its associated health impacts, making lean beef cuts more popular. The report states that 44% of consumers are opting for lower-fat beef options, propelling the industry towards healthier product options.

This shift in consumer behavior is vital for market growth, as it aligns with health and wellness trends worldwide.

Beef Market Segment Insights

Beef Market Product Type Insights

The Beef Market revenue reflects considerable segmentation according to product type, with notable distinctions among Fresh Beef, Processed Beef, Frozen Beef, and Canned Beef. For the year 2024, Fresh Beef is valued at 155.0 USD Billion, making it a critical component of the market that dominates due to its high demand for freshness in culinary applications. This product type is often considered a cornerstone for beef consumption globally, driven by consumer preference for quality and flavor, which supports its majority holding in the overall market.

Processed Beef follows closely, holding a value of 120.0 USD Billion in 2024, which illustrates the significant demand for convenience and extended shelf life in modern diets. Processed Beef products cater to consumer needs for ready-to-eat meals and versatile cooking options, thus maintaining a substantial role in household consumption patterns. The Frozen Beef segment, valued at 100.0 USD Billion in 2024, plays a crucial part in global distribution channels, allowing for extended shelf availability and reduced spoilage, addressing concerns of food waste and ensuring supply in regions with less immediate access to fresh produce.

Lastly, Canned Beef, although holding the smallest share at 31.73 USD Billion in 2024, offers unique preservation advantages, catering to niche markets and emergency food supplies, which remain of real importance especially in regions prone to supply disruptions. Overall, the Beef Market segmentation illustrates varied value distributions among product types, demonstrating how consumer preferences and logistical requirements influence the market's structure by driving noteworthy trends in Fresh, Processed, Frozen, and Canned Beef, ultimately enhancing the market statistics throughout the globe.

The anticipated valuations in 2035 further exhibit a steady growth trajectory, confirming the ongoing relevance of these segments within the Beef Market industry.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Beef Market Distribution Channel Insights

The Beef Market exhibits a diverse Distribution Channel landscape, contributing significantly to the overall market dynamics. In 2024, the market is projected to reach a valuation of 406.73 USD Billion, reflecting the robust demand across various channels. Supermarkets dominate the distribution arena, serving as a primary access point for consumers, facilitating the availability of a wide range of beef products. Online Retail is witnessing notable growth, driven by the convenience and shifting purchasing behaviors, as more consumers prefer purchasing groceries online.

Convenience Stores are essential in urban areas, offering quick access to beef products for on-the-go consumers. Meanwhile, Meat Shops play a crucial role in providing specialized products and fresh offerings, catering to culinary enthusiasts who prioritize quality and variety. The interplay of these channels highlights the importance of adapting to consumer preferences and market trends in the Beef Market, showcasing the market growth potential while presenting opportunities and challenges in meeting diverse consumer demands. Overall, the Beef Market segmentation through Distribution Channels paints a vivid picture of an evolving industry responding to dynamic consumer needs and industry shifts.

Beef Market Cut Type Insights

The Beef Market, focusing on the Cut Type segment, is a critical area characterized by diverse product offerings such as Steaks, Ground Beef, Roasts, and Ribs. As the overall market is set to be valued at 406.73 USD Billion by 2024, this segment plays a significant role in catering to a variety of consumer preferences and culinary traditions. Steaks, known for their premium quality, appeal to the upscale dining sector and have become increasingly popular among health-conscious buyers seeking high-protein options. Ground Beef is widely consumed across various demographics, primarily for its versatility in recipes, driving consistent demand.

Roasts are significant in both residential cooking and foodservice sectors, often revolving around traditional family meals and gatherings. Ribs, with their strong association with barbecue culture, hold a dominant position during summer and festive occasions. The Beef Market segmentation reflects these dynamics, highlighting the demand for different cuts based on flavor preference, preparation methods, and occasions. Market trends show a growing inclination toward sustainably sourced and ethically raised beef, unlocking further opportunities for growth in these cut types.

Alongside these trends, the industry faces challenges such as fluctuating beef prices and supply chain constraints, necessitating strategic approaches to maintain market stability. Overall, the Cut Type segment remains vital, significantly influencing the Beef Market statistics and growth trajectory.

Beef Market Packaging Type Insights

The Beef Market is experiencing notable growth, particularly in the area of Packaging Type, with projections showing the market valued at 406.73 USD Billion in 2024. This segment is essential for meat preservation, extending shelf life, and maintaining quality, driving the demand for various packaging methods. Vacuum Packaging is widely utilized for its effectiveness in preventing oxidation and spoilage, contributing significantly to the meat's longevity. Modified Atmosphere Packaging plays a crucial role by altering the gas composition around the product, effectively maintaining freshness and reducing waste.

Traditional Packaging continues to have its place, especially in local markets, appealing to consumers seeking familiarity. The varying preferences for these packaging types greatly influence the Beef Market segmentation, impacting the overall market dynamics. With increasing consumer awareness about food safety and quality, innovative packaging solutions are expected to shape the market further. The rising demand indicates potential opportunities for growth in the packaging segment within the broader Beef Market industry, ultimately aiding in meeting consumer needs for quality and sustainable beef products.

Beef Market Regional Insights

The Beef Market is projected to grow significantly, with key regional markets displaying varying levels of demand and growth potential. In 2024, North America, valued at 132.0 USD Billion, holds a majority share in the market, driven by strong consumption rates and robust beef production practices. Europe follows, with a market valuation of 100.0 USD Billion in the same year, benefiting from high standards in meat quality and safety. South America, a significant player with 70.0 USD Billion, is crucial due to its export capabilities and favorable climatic conditions for cattle farming.

The Asia Pacific region, valued at 90.0 USD Billion, shows strong growth potential due to rising disposable incomes and an increasing population demanding diverse protein sources. The Middle East and Africa, while currently valued at 14.73 USD Billion, represents an emerging market with vast potential for future growth, driven by increasing urbanization and changing dietary preferences. Each region contributes uniquely to the Beef Market revenue, with dynamics shaped by cultural preferences, economic conditions, and regulatory frameworks, creating both challenges and opportunities across the industry.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Beef Market Key Players and Competitive Insights

The Beef Market is characterized by intense competition driven by fluctuating consumer demands, regional trade policies, and varying quality standards across different countries. The landscape is shaped by numerous players ranging from large multinational corporations to local producers. As consumer preferences continue to evolve, companies are focusing on sustainability, traceability, and animal welfare to maintain their competitive edge. The beef market experiences frequent shifts due to economic factors, including changes in global meat consumption patterns, health trends prioritizing leaner proteins, and the rise of plant-based alternatives. These dynamics create opportunities and challenges, necessitating agile strategies from industry players while fostering an environment of innovation and adaptation to meet market needs.

Marfrig has established a strong presence in the Beef Market through strategic acquisitions and a focus on quality production. The company leverages advanced technology in meat processing and supply chain management, which has enhanced its operational efficiency. By prioritizing sustainability and responsible sourcing, Marfrig is well-positioned to meet the increasing demand from environmentally conscious consumers. The company has built a robust brand reputation for offering high-quality beef products, contributing to its competitiveness in international markets. Marfrig's ability to adapt to changing regulations and consumer preferences significantly strengthens its market share, enabling it to leverage opportunities in emerging markets while maintaining a stable position within established regions.

BRF operates as a formidable player in the Beef Market, offering a wide range of beef products catering to diverse consumer preferences. The company focuses on high-quality beef cuts and value-added products, ensuring robust performance across various distribution channels, including retail and foodservice sectors. BRF has been involved in several mergers and acquisitions that have expanded its production capacity and market reach, allowing it to maintain a competitive edge. The company's commitment to quality assurance and sustainable practices resonates well with consumers, adding to its strengths in the global arena. As a prominent meat producer, BRF continues to innovate and adapt its offerings, reinforcing its market presence while responding effectively to the evolving trends in the beef industry.

Key Companies in the Beef Market Include:

• Marfrig


• BRF


• Cargill


• Hormel Foods


• Tyson Foods


• Smithfield Foods


• Danish Crown


• Seaboard Foods


• JBS


• NH Foods


• Pilgrim's Pride

Beef Market Industry Developments

The Beef Market has recently experienced notable developments, including the growing demand for beef in various regions driving price increases. In October 2023, JBS announced an expansion of its production capacity in North America, anticipating higher consumer demand. Meanwhile, in September 2023, Tyson Foods reported significant revenue growth despite facing rising commodity costs, showcasing resilience within the market. Additionally, Marfrig and BRF are collaborating to enhance their export capabilities to Asia, highlighting the target on high-growth markets.

In terms of mergers and acquisitions, in August 2023, Hormel Foods acquired a regional meat processor to broaden its offerings, indicating strategic moves to capture market share. The overall market valuation for companies like Cargill and Smithfield Foods saw an upward shift, reflecting increased consumer preference for beef products and socio-economic recovery post-COVID-19. Over the past two years, the beef sector has faced challenges such as supply chain disruptions and regulatory changes, but recent adjustments indicate a trend towards stabilization within the Beef Market. Additionally, focus on sustainability and traceability in beef production is gaining momentum among major industry players.

Beef Market Segmentation Insights

Beef Market Product Type Outlook

• Fresh Beef


• Processed Beef


• Frozen Beef


• Canned Beef

Beef Market Distribution Channel Outlook

• Supermarkets


• Online Retail


• Convenience Stores


• Meat Shops

Beef Market Cut Type Outlook

• Steaks


• Ground Beef


• Roasts


• Ribs

Beef Market Packaging Type Outlook

• Vacuum Packaging


• Modified Atmosphere Packaging


• Traditional Packaging

Beef Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa

Report Attribute/Metric	Details
Market Size 2023	399.15(USD Billion)
Market Size 2024	406.73(USD Billion)
Market Size 2035	500.0(USD Billion)
Compound Annual Growth Rate (CAGR)	1.89% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Marfrig, BRF, Cargill, Hormel Foods, Tyson Foods, Smithfield Foods, Danish Crown, Seaboard Foods, JBS, NH Foods, Pilgrim's Pride
Segments Covered	Product Type, Distribution Channel, Cut Type, Packaging Type, Regional
Key Market Opportunities	Sustainable beef production practices, Plant-based beef alternatives, Premium organic beef demand, E-commerce beef sales growth, Increasing global protein consumption
Key Market Dynamics	rising meat consumption, health consciousness trends, livestock feed prices, trade regulations impact, sustainability concerns
Countries Covered	North America, Europe, APAC, South America, MEA