In Depth Analysis By Future Market Insights Inc. Processed Beef Market and Growth Forecast Between 2023-2033

By 2033, processed beef market is expected to account for about US$ 314.5 billion, up from a market share of US$ 133.4 billion in 2023. This is anticipated to increase market share and post a 9% CAGR between 2023 and 2033.

the global processed beef market recorded year-on-year (YoY) growth of 8.9% and is accounted for US$ 112.11 Bn in 2023 to reach the value of US$ 232.37 Bn in 2033.

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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.

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 Takeaways from the Processed Beef Market Study:

  • North America processed beef market leads the global market, accounting for 31.9% of overall processed beef sales in 2021.
  • Chilled processed beef will remain in high demand. It accounted for a share of 79.2% in the global market in 2021.
  • Based on nature, demand for organic processed beef will grow at a CAGR of 9.2% during the forecast period (2021-2031).
  • In terms of buyer type, household and residential segment accounted for 57.5% of the market share in 2021.
  • Among sales channel, sales via supermarket/hypermarket is anticipated to grow at a CAGR of 6.3% during the forecast period.

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“The top competitors in the processed beef market are introducing novel technologies to facilitate the production of processed beef with enhanced shelf life, texture, and flavor. Besides this, some are expanding their footprint in emerging nations to gain competitive edge,” said a lead FMI analyst.

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.

Who is winning?

Some of the leading companies offering processed beef are JBS SA, Hormel food, Harim Co Ltd, Tyson Foods Inc., Danish Crown A/S, Cargill Meat Solution Corp., WH Group, BRF SA, Smithfield Foods, Inc., SYSCO Corp and others.

In order to gain competitive edge, manufacturers are focusing on making processed beef healthier. Besides this, they are focusing on acquiring international certification to woo consumers from around the world.

Get Valuable Insights into Processed beef Market 

By Form

  • Chilled
  • Frozen
  • Shelf Stable

By Nature

  • Organic
  • Conventional

By Buyer Type

  • Food Processor & Manufacturers
  • HoReCa Sector
  • Household and Residential Buyers

Sales Channel

  • Traditional Grocery Stores
  • Supermarket/Hypermarket
  • Internet Retailing
  • Convenience Store
  • Discounters
  • Other Sales Channel

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Oceania
  • Middle East & Africa
  • Japan

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About Future Market Insights (FMI)

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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