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Processed Beef Market o reach the value of US$ 232.37 Bn in 2031, with CAGR of 7.6%

12-20-2021 10:30 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: FMI

Processed Beef Market

Processed Beef Market

According to Future Market Insights (FMI), the global processed beef market recorded year-on-year (YoY) growth of 8.9% and is accounted for US$ 112.11 Bn in 2021. The market is expected to exhibit a CAGR of 7.6% to reach the value of US$ 232.37 Bn in 2031.

Sales of processed beef will represent 37.9% of the overall demand in the global processed meat market. Increasing demand for convenience food with high shelf-stability will aid growth in the market.

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In the global food and beverage industry, innovation and new product creation are based on strong natural, health, and sustainability credentials. Products manufactured with healthier components and labelled with assurances of little processing or demonstrable health advantages from natural ingredients appeal to consumers, particularly in developed economies with higher income and an ageing population. In reaction to this trend, of start-ups and established companies alike within the processed beef market are focusing on innovations.

“High quality and better shelf-life of processed beef drives its demand. Besides convenience preparation and consumption, changing breakfast habits have enabled the market growth,” says the FMI report.

Furthermore, the health halo surrounding plant-based components and goods, as well as consumer demand for natural and plant-based products might have a negative influence on the processed beef sales. While people are becoming more informed and savvy about their food choices, they are increasingly opting for chemical-free meals such as organic processed beef. As a result, customer preference for natural and organic processed beef is on the rise.

Key Research Findings of FMI’s Processed Beef Market Study

• 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.

Explore the full processed beef market report with 119 illustrative figures, 78 data tables and table of contents. Also avail a detailed market segmentation on

Key Growth Drivers - Processed Beef Market

• 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.

Key Impediments - Processed Beef Market

• 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.

Convenience Offered by Processed Beef is the Key Factor Driving Sales

The increasing income of consumers has fueled demand for processed beef products. Furthermore, consumers choose convenient foods that do not require additional time for cooking or preparation due to the hectic nature of city living. The increasing popularity of ready-to-eat meat is also a major driver of the global processed beef market.

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Competition Structure Analysis - Processed Beef Market

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 that are 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.

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

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