Edible Beef Market Strategic Roadmap: Analysis and Forecasts 2024-2032

Key Insights

The size of the Edible Beef Market was valued at USD 436.6 Billion in 2023 and is projected to reach USD 545.78 Billion by 2032, with an expected CAGR of 3.24% during the forecast period. Meat is the part of the animal that is fit for human consumption and edible beef depicts the different parts of the cattle that are eaten. It extends from the more common steaks which are ribeye, and sirloin among others, to the roasts that cannot be overlooked such as chuck and brisket not to mention ground beef. Every cut has different characteristics; for example, rib-eye is good for its fats, soft texture, and flavor, whilst brisket provides a good flavor when cooked slowly. Fresh beef can be employed for barbecuing, broiling, roasting, pan-broiling, stewing, and even braising. It therefore becomes an essential ingredient in many a world cuisine, Let's consider both gourmet cuisines and the most common meal. It requires adequate preparation and method of cooking which can facilitate improving its taste and quality. 

Edible Beef Trends

• Growing popularity of frozen and ready-to-eat meals
• Increasing preference for home cooking
• Rising demand for organic and grass-fed beef
• Expansion of e-commerce sales channels

Driving Forces: What's Propelling the Edible Beef Market

• Rising population and increasing meat consumption: The global population is expected to grow by 1.1 billion people by 2050, leading to an increase in demand for meat products.
• Increasing disposable income: Rising incomes in developing countries are enabling consumers to spend more on premium food items, including edible beef.
• Growing urbanization: Urbanization is leading to a change in dietary habits, with more people consuming processed and ready-to-eat meat products.
• Expansion of retail and food service channels: The expansion of supermarkets, hypermarkets, and restaurants is providing consumers with more options for purchasing edible beef.
• Technological advancements: Innovations in packaging and preservation techniques are extending the shelf life of edible beef, making it more convenient for consumers.

Challenges and Restraints in the Edible Beef Market

• Disease outbreaks: Disease outbreaks in livestock can disrupt the supply chain and lead to price volatility.
• Environmental concerns: Rising concerns about the environmental impact of livestock production, such as greenhouse gas emissions and water pollution, are creating challenges for the edible beef industry.
• Competition from alternative proteins: The growing popularity of plant-based meat alternatives is posing a challenge to the edible beef market.
• Ethical concerns: Ethical concerns related to animal welfare are influencing consumer purchasing decisions.

Emerging Trends in Edible Beef

• Personalized nutrition: Consumers are increasingly interested in personalized nutrition plans, tailored to their specific dietary needs and preferences.
• Blockchain technology: Blockchain technology is being explored for traceability and transparency in the edible beef supply chain.
• Artificial intelligence (AI): AI is being used in the edible beef industry to optimize production and predict demand.

Growth Catalysts in Edible Beef Industry

• Government support: Governments in some countries are providing financial support to the edible beef industry to boost production and competitiveness.
• Research and development: Ongoing research and development is focusing on improving the efficiency of production and reducing the environmental impact of edible beef production.
• Marketing and promotion: The edible beef industry is investing in marketing and promotional campaigns to increase consumer awareness and demand.

Market Segmentation: Edible Beef Analysis

Cut Type

• Loin
• Brisket
• Shank
• Others

Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Retail

Leading Players in the Edible Beef Market

• Cargill, Incorporated
• Tyson Foods, Inc.
• St. Helen's Meat Packers Limited
• OSI Group, LLC
• Hormel Foods Corp.
• NH Foods Ltd.
• Vion Food Group
• Danish Crown AmbA
• JBS S.A.
• Marfrig Global Foods S.A.

Significant Developments in the Edible Beef Sector

• In 2023, Tyson Foods, Inc. acquired Hillshire Brands, a leading producer of packaged meats, in a deal valued at USD 8.5 billion.
• In 2022, JBS S.A. announced a USD 2 billion investment to expand its operations in the United Kingdom.

Regional Insight

The market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America is the largest market for edible beef, followed by Asia Pacific.

Consumer Side Analysis

Consumers are increasingly demanding high-quality, convenient, and ethical edible beef products. They are also willing to pay a premium for products that align with their values.

Swot Analysis

Strengths

• High demand from a growing population
• Rising disposable income
• Expanding retail and food service channels
• Technological advancements

Weaknesses

• Disease outbreaks
• Environmental concerns
• Competition from alternative proteins
• Ethical concerns

Opportunities

• Personalized Nutrition
• Blockchain technology
• Artificial intelligence
• Government support
• Research and development

Threats

• Changing consumer preferences
• Competition from international producers
• Economic downturn