Global Beef Market Overview

The global beef market revenue amounted to $ in 2018, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. Over the period under review, the global beef market reached its maximum level in 2018 and is likely to continue its growth in the near future.

In value terms, beef production stood at $ in 2018 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 with an increase of % against the previous year. The global beef production peaked in 2018 and is likely to see gradual growth in the immediate term.

The countries with the highest volumes of beef production in 2018 were the U.S. ( tonnes), Brazil ( tonnes) and China ( tonnes), with a combined % share of global production. Argentina, India, Mexico, Pakistan, Russia, France, Germany and the UK lagged somewhat behind, together comprising a further %.

From 2007 to 2018, the most notable rate of growth in terms of beef production, amongst the main producing countries, was attained by Pakistan, while beef production for the other global leaders experienced more modest paces of growth.

Global average beef yield totaled kg per head in 2018, approximately equating the previous year. In general, the beef yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when yield increased by % y-o-y. In that year, the average beef yield reached its peak level and is likely to continue its growth in the immediate term.

In 2018, the global number of animals slaughtered for beef production stood at heads, growing by % against the previous year. In general, the number of animals slaughtered for beef production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % against the previous year. In that year, this number attained its peak level and is likely to continue its growth in the immediate term.

In 2018, approx. tonnes of beef (cattle meat) were consumed worldwide; growing by % against the previous year. In general, beef consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when consumption volume increased by % y-o-y. In that year, the global beef consumption attained its peak volume and is likely to continue its growth in the immediate term.

The global beef market revenue amounted to $ in 2018, going up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to 2018; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. Over the period under review, the global beef market hit record highs in 2018 and is expected to retain its growth in the near future.

The countries with the highest volumes of beef consumption in 2018 were the U.S. ( tonnes), Brazil ( tonnes) and China ( tonnes), with a combined % share of global consumption. Argentina, Russia, Mexico, Pakistan, India, France, Germany and the UK lagged somewhat behind, together comprising a further %.

From 2007 to 2018, the most notable rate of growth in terms of beef consumption, amongst the main consuming countries, was attained by Pakistan, while beef consumption for the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($), China ($) and Brazil ($) were the countries with the highest levels of market value in 2018, with a combined % share of the global market.

China experienced the highest rates of growth with regard to market size, in terms of the main consuming countries over the period under review, while beef market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of beef per capita consumption in 2018 were Argentina ( kg per person), Brazil ( kg per person) and the U.S. ( kg per person).

From 2007 to 2018, the most notable rate of growth in terms of beef per capita consumption, amongst the main consuming countries, was attained by Pakistan, while beef per capita consumption for the other global leaders experienced more modest paces of growth.

Driven by increasing demand for beef worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from 2018 to , which is projected to bring the market volume to tonnes by the end of .