Fior Markets launched a study titled “Global Beef Market by Product (Ground Beef, Streak Beef, Cubed Beef), Cut (Brisket, Shank, Loin, Others), Method (Kosher, Halal, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global beef market is expected to grow from USD 372.8 Billion in 2017 to USD 496.8 Billion by 2025 at a CAGR of 3.7% during the forecast period from 2018-2025. Rising consciousness regarding beef as a major source of protein and consumer preference for beef over other meats owing to various diseases associated with poultry and pork are fuelling the growth of the market.
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Ground beef segmentheld largest market share of 45.30% in 2017
The product segment is classified into ground beef, streak beef and cubed beef. Ground beef holds the largest market share among the product types of the global beef market in 2017. People are more concerned about their healthy diet prefers ground beef as it is the best source of proteins, minerals, and vitamins.
The others cut segmentheld largest market share of 38.90% in 2017
The cut segment is classified into brisket, shank, loin and others. The others cut segment is dominating the market in 2017mainly due to growing demand for ribs, round, chuck, plate, and flank
Kosher beef segmentvalued around USD 178.57Million in 2017
The method segment includes kosher, halal and others. Kosher beef is dominating the market in 2017. Kosher beef has been certified to have been processed according to the Jewish dietary laws. The consumers consume Kosher beef due to several advantages such as gastronomy, food safety and quality.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately41.78% in 2017.North America is the dominating the market due to rising awareness associated with grass-fed beef which is anticipated to contribute to market growth. Also,soaring demand for processed meats is also leading to growth of the market. Loins is the most preferred cut in the region and is served in all food outlets. Grass-fed products are highly preferred in the region due to low marbling score
The major players ofmarketinclude Tyson Foods, Inc.; Danish Crown; Cargill, Incorporated; Marfrig Global Foods S.A.; NH Foods Ltd.; NH Foods Ltd.; St Helen’s Meat Packers; Hormel Foods Corporation; JBS USA; National Beef Packing Company, LLC; Vion Food Group; and Australian Agricultural Company Limited.
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