Beef is a culinary name for meat which is obtained from animals such as buffalos and cows. Beef is one of the world most consumed meat after pork in terms of volume consumption. Beef can be harvested from bulls, cows, steers or heifers. Acceptability of beef as a food source varies in different parts of the world. Beef can be cooked in several ways such as grilling, roasting, broiling, griddle and barbeque.
The major driving factor that is fuelling the demand for the global beef market is the rise in the disposable income of the consumers across the world. Rise in urbanization is another major factor that is driving the beef market across the world. Moreover, beef is high in protein, thus the increase in awareness of high protein consumption is met by beef. In addition, the food safety issues such as pathogen detection problems and chemical residue in meat products such as poultry and pork has increased the demand for the beef market across the world. The notable gap between demand and supply of beef due to its limited production because of several environmental and political factors is one of the major factors that is restraining the demand for the beef market globally. In addition, price rise of beef in the developed markets due to limited supply of beef from North America is another restraining factor of the beef market.
Rise in the availability of cattle in regions such as Argentina, Paraguay, Uruguay and other countries is expected to serve as an opportunity to the global beef market. In addition, international demand for beef, sustained cattle prices and strong pasture conditions are also expected to serve as opportunities to the global beef market. By product, the global beef market can be segmented into ground beef, cubed beef and steaks. Ground beef holds the largest market share among the product types of the global beef market. Steaks are most popularly consumed in North America. Steaks are famous due to their fat content and taste. Steak has high quantity of vitamins, fats and protein.
By product grade, the global beef market is segmented into Kosher and Halal. Kosher beef has been certified to have been processed according to the Jewish dietary laws. The consumers residing in North America consume Kosher beef due to several advantages such as gastronomy, food safety and quality. Halal beef is consumed by the Islamic community across the world. Since, any other form of meat is banned; beef is the preferred form of meat among the Islamic population.
Asia Pacific is dominating the global beef market due to the increasing consumption of beef in countries such as India, China, and Japan. China is the world’s largest market for beef. Improving lifestyle of the consumers residing in China due to a significant rise in the disposable income of the consumers is the major factor fuelling the growth of the beef market in China. Middle East and Africa also accounts for a major part of the market share for the global beef market. In addition, countries such as Brazil and Argentina are also expected to show strong growth rate during the forecast period.
Tyson Foods Inc, Danish Crown, Marfrig Global Foods S.A., Nipponham Group and Danish Crown are some of the major players operating in the global beef market at present.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.