Global Beef Market Overview
Market Overview
In 2019, the global beef market increased by 
% to $, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the market value increased by % against the previous year. Global consumption peaked in 2019 and is likely to continue growth in the immediate term.
In value terms, beef production stood at $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2019; 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 % year-to-year. Global production peaked in 2019 and is likely to see steady growth in the near future.
The countries with the highest volumes of beef production in 2019 were the U.S. ( tonnes), Brazil ( tonnes) and China ( tonnes), with a combined % share of global production. These countries were followed by Argentina, India, Australia, Mexico, Pakistan, Russia, France, Canada, Germany and Turkey, which together accounted for a further %.
From 2007 to 2019, the biggest increases were in Turkey, while beef production for the other global leaders experienced more modest paces of growth.
In 2019, the global average beef yield stood at kg per head, remaining stable against the year before. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % y-o-y. Over the period under review, the average beef yield attained the peak level in 2019 and is likely to continue growth in the near future.
In 2019, the number of animals slaughtered for beef production worldwide totaled heads, approximately equating 2018 figures. In general, the number of producing animals continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the number of producing animals increased by % y-o-y. Over the period under review, this number attained the maximum level in 2019 and is likely to continue growth in years to come.
% to $, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the market value increased by % against the previous year. Global consumption peaked in 2019 and is likely to continue growth in the immediate term.In value terms, beef production stood at $
in 2019 estimated in export prices. The total output value increased at an average annual rate of +% over the period from 2007 to 2019; 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 % year-to-year. Global production peaked in 2019 and is likely to see steady growth in the near future.The countries with the highest volumes of beef production in 2019 were the U.S. (
tonnes), Brazil ( tonnes) and China ( tonnes), with a combined % share of global production. These countries were followed by Argentina, India, Australia, Mexico, Pakistan, Russia, France, Canada, Germany and Turkey, which together accounted for a further %.From 2007 to 2019, the biggest increases were in Turkey, while beef production for the other global leaders experienced more modest paces of growth.
In 2019, the global average beef yield stood at
kg per head, remaining stable against the year before. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of % y-o-y. Over the period under review, the average beef yield attained the peak level in 2019 and is likely to continue growth in the near future.In 2019, the number of animals slaughtered for beef production worldwide totaled
heads, approximately equating 2018 figures. In general, the number of producing animals continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the number of producing animals increased by % y-o-y. Over the period under review, this number attained the maximum level in 2019 and is likely to continue growth in years to come.Consumption
Global beef consumption was estimated at tonnes in 2019, therefore, remained relatively stable against the previous year. Overall, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of % year-to-year. Global consumption peaked in 2019 and is expected to retain growth in years to come.
The global beef market value stood at $ in 2019, approximately mirroring 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 +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. Over the period under review, the global market attained the peak level in 2019 and is likely to see gradual growth in years to come.
tonnes in 2019, therefore, remained relatively stable against the previous year. Overall, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of % year-to-year. Global consumption peaked in 2019 and is expected to retain growth in years to come.The global beef market value stood at $
in 2019, approximately mirroring 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 +% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. Over the period under review, the global market attained the peak level in 2019 and is likely to see gradual growth in years to come.Consumption By Country
The countries with the highest volumes of beef consumption in 2019 were the U.S. ( tonnes), Brazil ( tonnes) and China ( tonnes), together accounting for % of global consumption. Argentina, Pakistan, Mexico, Russia, India, France, Germany and Turkey lagged somewhat behind, together comprising a further %.
From 2007 to 2019, the biggest increases were in Turkey, while beef consumption for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($), China ($) and Brazil ($) were the countries with the highest levels of market value in 2019, together comprising % of the global market. Argentina, Mexico, Russia, France, Pakistan, Germany, Turkey and India lagged somewhat behind, together comprising a further %.
Turkey saw the highest growth rate of market size, in terms of the main consuming countries over the period under review, while beef market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of beef per capita consumption in 2019 were Argentina ( kg per person), Brazil ( kg per person) and the U.S. ( kg per person).
From 2007 to 2019, the biggest increases were in Turkey, while beef per capita consumption for the other global leaders experienced more modest paces of growth.
tonnes), Brazil ( tonnes) and China ( tonnes), together accounting for % of global consumption. Argentina, Pakistan, Mexico, Russia, India, France, Germany and Turkey lagged somewhat behind, together comprising a further %.From 2007 to 2019, the biggest increases were in Turkey, while beef consumption for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($
), China ($) and Brazil ($) were the countries with the highest levels of market value in 2019, together comprising % of the global market. Argentina, Mexico, Russia, France, Pakistan, Germany, Turkey and India lagged somewhat behind, together comprising a further %.Turkey saw the highest growth rate of 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 2019 were Argentina (
kg per person), Brazil ( kg per person) and the U.S. ( kg per person).From 2007 to 2019, the biggest increases were in Turkey, while beef per capita consumption for the other global leaders experienced more modest paces of growth.
Market Forecast
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 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
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