Beef Market Innovation Driven by Smart Packaging Technologies

The global beef market was valued at USD 526.50 billion in 2023 and is projected to reach USD 712.54 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 4.2% from 2024 to 2030. This growth is significantly influenced by increasing globalization, which has led to notable shifts in consumer food preferences worldwide.

A key driver for the beef industry is the rising global demand for protein, with meat and its products offering essential nutrients and convenience in meal preparation. Consequently, manufacturers are intensely focused on ensuring the quality of their beef and related products.

Increased health consciousness among consumers, coupled with a growing demand for animal-sourced protein, is a primary factor propelling the beef market. Changing dietary habits are leading consumers to increasingly favor food products that are low in fat and calories but high in protein. Furthermore, the extensive use of beef in the food industry is positively impacting market expansion. Beef-based items like burgers, hotdogs, sausages, fillets & steaks, and stews are widely featured in cafes and restaurants, catering to consumers seeking authentic and diverse culinary experiences.

Key Market Highlights:

• Asia Pacific accounted for a substantial 48.0% of the global beef industry revenue share in 2023.
• The North American market is anticipated to record a significant CAGR through 2030.
• By cut, loin cut held a leading revenue share of 36.3% in 2023 within the global beef industry.
• Regarding slaughter method, halal beef captured a substantial revenue share in the global market in 2023.

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Market Size & Forecast

• 2023 Market Size: USD 526.50 billion
• 2030 Projected Market Size: USD 712.54 billion
• CAGR (2024-2030): 4.2%
• Asia Pacific: Largest market in 2023
• North American: Fastest growing market

Key Companies & Market Share Insights

The global beef market is shaped by the strategies of its leading companies, which collectively command a significant market share and drive industry trends. An analysis of their financials, strategic approaches, and product portfolios provides insights into the intricate supply network.

For instance, in February 2022, JBS, a global leader in protein production, showcased its offerings at Gulfood 2022, a prominent international food and beverage trade show held in Dubai. Friboi, JBS's top-selling Brazilian beef brand, provided attendees with an immersive experience featuring its premium Black Friboi and 1953 ranges. The Black Friboi line, specifically, highlights a top-tier halal portfolio sourced from genetically superior Black Angus cattle in the United States, with only 1% of cattle meeting the stringent selection criteria. The "1953" Friboi range consists of over 50 premium cuts derived from selected European breeds, emphasizing precision technology and high-standard protocols for enhanced marbling, tenderness, and succulence.

In a move signaling future directions in the meat industry, Aleph Farms, an Israel-based cultivated meat company, secured USD 105 million in a Series B investment round in July 2021, bringing its total funding to USD 119.4 million. The company announced plans to utilize this capital to prepare for a product launch, scaling up manufacturing facilities, expanding international operations, and broadening its product lines and technology platform. This investment underscores the growing interest in alternative protein sources and sustainable food production.

Key Players

• Tyson Foods, Inc.
• Danish Crown
• Cargill Incorporated
• Marfrig Global Foods S.A.
• NH Foods Ltd.
• Minerva Foods
• St. Helen’s Meat Packers
• Hormel Foods Corporation
• JBS USA
• National Beef Packing Company, LLC
• Vion Food Group
• Australian Agricultural Company Limited

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Conclusion

The global beef market continues to grow steadily, driven by rising protein consumption and evolving dietary preferences across the globe. Consumers are increasingly seeking high-protein, low-fat food options, pushing manufacturers to enhance product quality and diversify offerings. The widespread use of beef in foodservice—particularly in popular dishes like steaks, burgers, and sausages—is further fueling market demand. Regional shifts, including growing consumption in Asia Pacific and innovation in halal and premium cuts, are shaping the competitive landscape. Additionally, investments in sustainable and alternative protein solutions signal a dynamic future for the beef industry.