- High quality and better shelf-life of processed beef drives its demand.
- Tech innovations in processed beef operations marks an important trend, eventually leading to better quality.
- Benefits in terms of convenience, quality, and shelf-life continue to fuel demand for frozen processed beef products.
The global processed beef market is projected to reach a valuation of $227 Bn in 2029, with an impressive rate of growth during 2019 – 2029. According to a new study by Future Market Insights (FMI), the market for processed beef is predominantly driven by hectic consumer lifestyles, and rising consumption of ready-to-eat products by the millennial demographic.
“High quality and better shelf-life of processed beef drives its demand. Besides convenience preparation and consumption, changing breakfast habits have enabled market growth,” says the FMI report.
Key Research Findings
Households account for a major market share. Tech innovations in processed beef operations marks an important trend, eventually leading to better quality. North America will remain the leading regional market for processed beef. Economies in Asia Pacific will display a higher rate of growth. Expanding health-conscious consumer population is heavily contributing towards the growth of organic category.
Key Growth Drivers
Rapid development of global cold chain infrastructure is driving up demand of fresh, chilled, and frozen processed foods, including processed beef. Benefits in terms of convenience, quality, and shelf-life continue to fuel demand for frozen processed beef products. Increasing awareness about associated health benefits continues to be a major growth driver for market.
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Low growth rates of beef animals and inconsistent meat quality are the prominent challenges facing livestock farmers. Lack of proper supply chain infrastructure and poor animal health control continue to result in a measurable loss. Price fluctuations, lack of enforcement for meat grading systems, and inadequate technical knowledge remain major roadblocks to production.
Explore the full processed beef market report with 119 illustrative figures, 78 data tables and table of contents.
Competitive Structure Analysis
Competition landscape of the global processed beef market will primarily remain influenced by the rising number of acquisitions of smaller regional businesses. Leading market players are adopting acquisition strategies in a bid to strengthen geographical presence and boost product portfolios. Major players and new entrants in the industry are anticipated to increase their efforts to penetrate fast developing economies such as China and India in the near future.
Some of the major participants in the global processed beef market analyzed in this report include, but are not limited to, SYSCO Corp, JBS SA, Smithfield Foods Inc., Hormel Food, BRF SA, Harim Co. Ltd., WH Group, Tyson Foods Inc., Cargill Meat Solution Corp., and Danish Crown A/S.
The report offers global, regional, and country level analysis of the latest industry trends impacting the processed beef market. The study provides compelling insights on the processed beef market on basis of product forms (chilled, frozen, and shelf-stable), by nature (organic and conventional), by application (food processor and manufacturers, HoReCa sector, and household and residential buyers), by sales channels (traditional grocery stores, supermarket/hypermarket, internet retailing, convenience store, discounters, and others) across 30 countries spanning seven key regions (North America, Latin America, Europe, Asia Pacific, Oceania, Middle East and Africa, and Japan).