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Yahoo
01-07-2025
- Business
- Yahoo
Beef Market Size Projected to Reach USD 845.97 Bn By 2034
According to Towards FnB, the global beef market size is valued at USD 579.16 billion in 2025 and is projected to hit around USD 845.97 billion by 2034, expanding at a CAGR of 4.30% during the forecast period from 2025 to 2034. Ottawa, July 01, 2025 (GLOBE NEWSWIRE) -- The global beef market size was calculated at USD 555.28 billion in 2024 and is expected to rise from USD 579.16 billion in 2025 to nearly USD 845.97 billion by 2034, growing at a CAGR of 4.30% over the forecast period from 2025 to 2034, according to study published by Towards FnB, a sister firm of Precedence Research. The market has been expanding in recent times due to the increasing disposable income of the people leading to a hike in demand for premium meat types and high-quality protein sources. Hence, health-conscious people who prefer protein compulsorily in their diet form the largest consumer base for the market. Download a Free Sample and See the Insights for Yourself: Market Overview Growing demand for animal protein, convenient protein sources, and the rising Muslim community have led to the growth of the beef market globally. The different parts of the animal are high in protein leading to high demand for it by health-conscious, millennials, and Generation X people. The younger generation drawn towards fast food options also forms a strong consumer base for quick service restaurants serving beef burgers and steaks. The market is divided into various segments with the brisket segment being the highest-sold one due to its high nutrition content in low prices. The hectic lifestyle of millennials and Generation X people leads to a surge of demand for nutritious beef products such as beef jerky and protein bars. They allow one to gorge on protein-loaded options conveniently without the hassle of cooking a meal. Hence, health-conscious people with hectic schedules prefer to consume such animal protein options as they as pocket-friendly too. One can also look for ready-to-eat beef meal options providing a convenient protein source. Rising disposable incomes, changing lifestyles and standards of living, and rapid urbanization are also some of the major sources of growth of the beef market. The growing demand for beef has also led restaurants, cafes, and food joints to offer beef meat dishes leading to further growth of the market. Key Highlights of Beef Market By region, Asia Pacific dominated the market with the highest market share of 49% in 2024 and is expected to continue it in the foreseen period. High beef meat demand from China will surge the beef market in Asia Pacific in the forecast period. By region, North America is observed to be growing at the fastest rate due to the high demand for meat by the millennials and Generation X. By cut, the loin segment captured the maximum market share of 37% in 2024. The loin part is the juiciest, tender, and flavorful and hence it is highly demanded leading to a spike in market growth. By cut, the brisket segment is expected to grow in the forecast period. The part is taken from the breast or lower chest area and is highly nutritious and affordable. Hence, it is highly consumed by people, leading to a surge in demand. By slaughter method, the halal segment dominated the beef market in 2024. Sustainable Beef Extraction Methods: Market's Largest Potential Beef meat production is a high greenhouse gas emission procedure. It involves the release of methane 8 times more compared to chicken and other meat production. Hence, the unsustainable practices followed lowers the beef market. Managing manure and keeping it safe in manure tanks helps in lowering greenhouse gas emissions. Improving feed quality also helps in managing manure production. Hence, following such methods helps the industry to maintain sustainability and allow market growth as well. What are Major Trends in Beef Market? High Demand for Sustainable Practices- Consumer awareness today demands practicing sustainable activities for a healthier environment. Hence, high demand for beef meat from grass-fed, organic, and antibiotic-free sources is observed. Brands and food joints offering such kinds of meat prove to be tough competition for the ones offering traditional beef meat. Growth of E-Commerce Platforms- The convenience provided by brands to order beef meat online through their application or a retailer's website also helps the beef market boost. It allows customers to place an order easily at their convenience and get it on their doorstep within minutes. Technological Advancements- The use of barcodes and RFID tags helps customers track the quality of their beef meat from the supply chain till the moment it is delivered to the customer. It helps in maintaining transparency between the brand and the customer allowing the customer to retain their customer's trust. Increasing Premiumization- Rising disposable income, improving standard of living, and many other factors are giving rise to premium quality beef meat. The customers are willing to pay a higher amount for sustainably- sourced beef meats that require higher amounts for performing the eco-friendly procedure. Health-conscious people and people who ensure to maintain their protein intake of the day form a huge consumer base for the beef market. Have Questions? Let's Talk—Schedule a Meeting with Our Insights Team: What is the Major Driver of Beef Market? There are multiple factors helping in the growth of the beef market. The most vital growth factors of the market involve high protein intake factors. Health-conscious people who ensure to complete their protein intake goals form a huge consumer base for the beef market. Health-conscious people also ensure sustainable methods are used to derive beef meat. Increasing the standard of living and shifting food choices of people has also fueled the growth of the market. Convenient beef food options in the form of fast food offer huge convenience to people to complete their protein intake goals easily without the hassle of preparing meals at home. The convenience of ordering food online through websites or applications has also made it easy for people to contribute to the growth of the market. What Hinders the Growth of Beef Market? Environmentally Damaging Practices Hampering Sustainability One of the major restrictions in the growth of the beef market is non-sustainable practices followed to obtain beef meat. The procedure involves enteric fermentation that releases methane, a major greenhouse gas. Methane traps more heat than carbon dioxide resulting in environmental imbalance. Cattle feeding grounds resulting in higher deforestation is another unsustainable practice done to derive beef meat. Hence, the unsustainable practices followed for beef meat extraction are one of the major barriers to the growth of the beef market. Hence, brands practicing sustainable methods to extract beef meat are highly preferred compared to the ones practicing traditional methods. Feel Free to Get in Touch with Us for Orders or Any Questions at: sales@ Beef Market Regional Analysis: Which Region Dominated the Beef Market in 2024? Asia Pacific held the largest revenue share of the beef market in 2024. Rapid urbanization and increasing disposable income led to changes in the standard of living of people in the region. Hence, it directly impacted the beef meat demand leading people to focus on high-protein sources. Health-conscious people ensure their protein intake forms the largest market for beef meat sales. The market involves millennials and Generation X at a higher rate concerned about their health and protein intake of the day without the worries of the expense involved in buying premium meat. Advancements in beef supply chains also help in the growth of the market and lead to the growth of the market in the foreseen period as well. China has a huge contribution to the growth of the market in the Asia Pacific. It is the world's largest beef producer and exporter globally. Which Region is Observed to Grow at the Fastest Rate in the Beef Market? North America Beef Market is expected to spike at the fastest rate in the forecast period. Countries like the U.S. and Canada hold a major share in contributing to the growth of the beef market in North America. Various feasts and occasions call for celebration leading to demand for beef meat. Hence, huge meat supplies lead to the growth of the market in the region. The high demand for meat for its rich protein source at affordable prices is also a major reason for the growth of the market in the foreseen period. Companies launching innovative beef meat cuts with nutritional value at pocket-friendly processes are also a major reason for the growth of the market in the region. Meat-based fast food options such as burgers, shakes, hot dogs, and many other options demanded by people of all age groups are also a major reason for the growth of the market. Gain Comprehensive Market Insights – Download the Full Databook Today: Market Report Scope Report Attribute Key Statistics Base Year 2024 Forecast Period 2025 to 2034 Growth Rate from 2025 to 2034 CAGR of 4.30% Market Size in 2024 USD 555.28 Billion Market Size in 2025 USD 579.16 Billion Market Size by 2034 USD 845.97 Billion Dominated Region Asia Pacific Beef Market Segment Analysis Cut Type Analysis The loin cut segment dominated the beef market in 2024. The loin cut is among the highest demand cuts leading to the growth of the beef market. The loin cut is the juiciest, tender, and flavorful part of the meat and hence is highly demanded. Hence, the cut segment dominated the market in 2024. The cut is highly used on occasions such as parties, get-togethers, or other similar occasions. Hence, the meat cut is also highly demanded by the restaurant industry to fulfill the demands of premium dining customers. The brisket segment is seen to grow at a notable pace in the forecast period. The brisket cut is taken from the lower chest or breast of beef. The part is highly nutritious and less in price. Hence, the segment is highly growing in the forecast period and is highly preferred by people of different age groups. The cut involves high collagen which is nutritional for hair and skin. Hence, it is also one of the major reasons for the growth of the market in the region. Slaughter Method Analysis The halal beef segment held the largest market revenue in 2024 with the growth of the Muslim community, the demand for halal beef is increasing as well. The method is focused on humane animal slaughtering practices along with following the spiritual faith belief practices of the community. Hence, restaurants, cafes, and food joints today offer halal meat to respect the community's faith and spiritual beliefs. Such practices help in the growth of the market in the observed time frame. This has also led to improved accessibility of halal meat in different supermarkets and stores. Browse More Research Reports: The global marzipan market size is expected to grow from USD 1.22 billion in 2025 to USD 1.76 billion by 2034, at a CAGR of 4.20% over the forecast period from 2025 to 2034. The global fermented ingredients market size is projected to witness strong growth from USD 43.53 billion in 2025 to USD 113.18 billion by 2034, reflecting a CAGR of 11.20% over the forecast period from 2025 to 2034. The global dietary fibers market size is projected to expand from USD 9.56 billion in 2025 to USD 21.81 billion by 2034, growing at a CAGR of 9.60% during the forecast period from 2025 to 2034. The global halal food and beverage market size is expected to grow from USD 2.72 trillion in 2025 to USD 5.44 trillion by 2034, at a CAGR of 8% over the forecast period from 2025 to 2034. The global fluid lecithin market size is set for steady growth, increasing from USD 1.32 billion in 2025 to USD 2.08 billion by 2034, with a CAGR of 5.20% during the forecast period from 2025 to 2034. The global food and beverage cold chain logistics market is poised for substantial growth over the next decade, with projections indicating significant revenue increases during the forecast period 2025 to 2034. The global specialty malt market size is projected to expand from USD 4.08 billion in 2025 to USD 5.56 billion by 2034, growing at a CAGR of 3.50% during the forecast period from 2025 to 2034. The global food grade lubricants market size is increasing from USD 491.01 million in 2025 to USD 1,120.43 million by 2034, driven by a CAGR of 9.60% during the forecast period from 2025 to 2034. Beef Market Top Companies JBS SA National Beef Packing Company, LLC American Foods Group, LLC. Agri Beef Co. Perdue Farms Inc. Tyson Foods, Inc. Strauss Brands LLC Cargill, Incorporated Central Valley Meat Danish Crown A/S Recent Developments of the Beef Market In February 2025, Tyson Foods, a US-based meatpacker company reported of hike in their sales due to strong demand for beef and chicken products lately. It has also helped the brand in improving the restaurant traffic. (Source- In October 2024, McDonald's sued multiple beef suppliers accusing them of raising the prices of beef over the years. The lawsuit was filed against big names such as Cargill, JBS, National Beef Packing Company, and Tyson Foods. (Source- In April 2025, Americans broke the record for highest meat consumption in 2024 as per the research held by the Meat Institute and trade group FMI – The Food Industry Association. (Source- Segments Covered in the Report By Cut Brisket Shank Loin Others By Slaughter Method Kosher Halal Others By Region North America U.S. Canada Asia Pacific China Japan India South Korea Thailand Europe Germany UK France Italy Spain Sweden Denmark Norway Latin America Brazil Mexico Argentina Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait Thank you for exploring our insights. For more targeted information, customized chapter-wise sections and region-specific editions such as North America, Europe, or Asia Pacific—are also available upon request For Detailed Pricing and Tailored Market Report Options, Click Here: Feel Free to Get in Touch with Us for Orders or Any Questions at: sales@ Unlock expert insights, custom research, and premium support with the Towards FnB Annual Membership. For USD 495/month (billed annually), get full access to exclusive F&B market data and personalized guidance. It's your strategic edge in the food and beverage industry: About Us Towards FnB is a global consulting firm specializing in the food and beverage industry, providing innovative solutions and expert guidance to elevate businesses. With an in-depth understanding of the dynamic F&B sector, we deliver customized market analysis and strategic insights. Our team of seasoned professionals is committed to empowering clients with the knowledge needed to make informed decisions, ensuring they stay ahead of market trends. Partner with us as we redefine success in the rapidly evolving food and beverage landscape, and together, we'll navigate this transformative journey. Our Trusted Data Partners Precedence Research | Statifacts | Towards Packaging | Towards Chemical and Materials| Nova One Advisor For Latest Update Follow Us:
CTV News
19-06-2025
- Business
- CTV News
Popular Gateway Meat Market enters new chapter with expansion in Dartmouth, N.S.
Customers lined up outside the Gateway Meat Market in Dartmouth, N.S. (Source: Carl Pomeroy/CTV News Atlantic) In 2008, the Gateway Meat Market in Dartmouth, N.S., opened with two cash registers and a handful of employees; it's now grown to have 11 cash registers and more than 100 workers. The popular shop celebrated its fifth major expansion on Thursday, welcoming hundreds of customers to check out the new space and new deals. 'Everybody was really excited,' said Tamara McKay, social media and PR manager for the market. 'It's amazing in there.' Lineup The Gateway Meat Market celebrated its expansion on Thursday. (Source: Carl Pomeroy/CTV News Atlantic) McKay said their store now has roughly 26,000 square feet of space; the original store has 17,000 square feet. More to come… For more Nova Scotia news, visit our dedicated provincial page
The Guardian
24-05-2025
- Business
- The Guardian
‘We trusted them': East End fishmongers take on the City to save ancient markets
It is a mismatched contest: a handful of east London fishmongers taking on the phenomenally wealthy City of London Corporation. But the market traders and a food poverty charity have teamed up to battle City of London Corporation over its plans to close the capital's ancient fish and meat markets for good. The corporation announced the permanent closure of London's historic Smithfield meat market and Billingsgate fish market in late 2024, when it pulled the plug on a planned £1bn relocation to a new sitein the east of the capital at Dagenham. The decision means the end of centuries of meat and fish trading in the capital. Three fishmongers from Ridley Road market in Hackney say they depend on Billingsgate for their business and will go bust if it closes down. Along with their spokesperson Alicia Weston, the founder of Bags of Taste, which teaches cooking skills to people living in poverty, they are fighting to stop parliament from rubber stamping the markets' closure. The corporation, the governing body that runs London's Square Mile, is the owner and operator of both sites, but is not permitted to close down the markets independently. A quirk of their long and storied pasts, the markets were established by acts of parliament that fix them to the existing sites. This means they can only be closed when parliament passes a private bill, repealing the legislation and allowing the land to be used for other purposes. The markets have been granted a stay of execution until 2028. In the meantime, the corporation has said it is offering compensation to Smithfield and Billingsgate traders and is helping them find new locations, but is no longer planning to build a joint replacement site. Fishmongers Waheed Aslam, Zafar Iqbal and Mohammed Amjad Choudry have objected to the bill, and they say they have the support of a small group of MPs who are opposed to the closure. The Mediterranean fish shop on Ridley Road was started 30 years ago by Aslam's father. Aslam and his business partner Aras Swara, visit Billingsgate market, the UK's largest inland fish market, early in the morning, five days a week, to choose fresh sea bream, snapper, salmon and coley for the shop. 'At the market we can choose what we buy, if there's no market, those who are selling will have a monopoly,' said Aslam. 'If there is no Billingsgate, we can't get all this variety,' added Swara, gesturing to a chest freezer containing 13 different types of frozen prawns. Aslam has previously tried buying from wholesalers, but said he was not able to buy the required quantity of fish, or was disappointed by the quality. 'We supply quite a few restaurants around the area, and it would affect them too if the market closes,' he added, as his two employees gutted and cleaned sea bass ordered by a local Caribbean restaurant. The history of a food market around Smithfield – close to Farringdon train station – goes back more than 800 years. The London Museum is in the process of moving to part of the site, which is intended to become a cultural development. Billingsgate, which was moved in 1982 from a City location by the river to a building near the Canary Wharf financial district, has been earmarked for housing. The volumes of meat and fish traded at Smithfield and Billingsgate have fallen significantly since their peak around the turn of the 20th century amid the rise of supermarkets, according to an independent report on the importance of food markets commissioned by the corporation after its decision not to build the Dagenham site. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Despite this, the report found that Smithfield and Billingsgate 'play a vital role in supporting independent retailers, such as butchers and fishmongers' and estimated Billingsgate still accounts for 9%-11% of fish consumption in London and the south-east. The corporation scrapped plans to relocate both markets, along with the New Spitalfields fruit and vegetable market, to a purpose-built complex at Dagenham Dock, saying inflation and rising construction costs had made the project unaffordable. The corporation manages assets worth billions of pounds, and collects £1.3bn in business rates annually, although it passes most of this to central government. The fishmongers and Weston are calling on the corporation to find an alternative location for the markets. 'We trusted them and believed it was going to open in Dagenham, but they broke that trust,' said Weston. 'There are unintended consequences of the closure.' A spokesperson for the City of London Corporation said the authority is 'actively supporting the traders at Billingsgate and Smithfield to find new sites for their wholesale activity within the M25. This includes practical support, such as brokering discussions with landowners and developers, and assisting a smooth transition'. 'We just want assurance that an alternative market will be opened,' said Aslam. 'We have a livelihood on the line. We are at the bottom of the chain and have not been given much thought about.'
