The popularity of beef as a meat is widespread across many cultures, and people may develop a taste for it as they travel and encounter different cuisines.
The global beef industry is a complex sector involving the production, processing, and distribution of beef products, and it contributes significantly to the world’s food supply while employing millions of people globally.
The demand for beef has been on the rise due to increasing populations and income levels, particularly in developing countries. However, the industry faces various challenges such as concerns over animal welfare, environmental impact, and health risks, as well as trade disputes, food safety regulations, and supply chain disruptions.
The beef industry invests in marketing and advertising to promote beef consumption, and it was valued at US$ 332.28 Billion in 2022.
The United States has historically been one of the largest consumers of beef meat globally, followed by Brazil, China, the European Union, India, Argentina, Mexico, Russia, Japan, the United Kingdom, Canada, and others. Brazil and the United States’ beef industries are expected to increase in the coming years.
Beef production occurs in many countries worldwide, with the largest beef-producing countries including the United States, Brazil, China, India, Australia, Argentina, Mexico, Canada, Russia, South Africa, and the European Union. China was the largest importer of beef in the world, followed by the United States, Japan, and South Korea.
Global beef exports have seen significant growth in recent years, with major exporting countries including Brazil, Australia, and the United States. The rise in global beef exports can be attributed to increasing demand, improved production methods, advancements in transportation and logistics, growing populations, particularly in developing countries, and rising incomes.
Key players in the beef market include Tyson Foods, Inc., Danish Crown, Cargill Incorporated, Marfrig Global Foods S.A., N.H. Foods Ltd., Minerva Foods, St. Helen’s Meat Packers, Hormel Foods Corporation, JBS USA, National Beef Packing Company, LLC, Vion Food Group, and Australian Agricultural Company Limited.