Global Beef Market is Set to Continue Moderate Growth

IndexBox has just published a new report "World: Beef (Cattle Meat) - Market Report - Analysis And Forecast To 2025". Here is a summary of the report’s key findings.

Global Beef Consumption Maintained a Stable Trend Pattern

Global beef market remained relatively stable, rising from 61.8M tonnes in 2007, to 63.5M tonnes in 2016. In wholesale prices, global beef market deacreased by 7% to $267B in 2016, fluctuating somewhat notably over the last ten years against changes in producer prices, yield and global stock. This figure reflects total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price).

The U.S. (19% based on tonnes), Brazil (13%), and China (11%) were the countries with the highest consumption, together accounting for almost 43% of global figures. In terms of the key consumer countries in 2016, per capita consumption of beef in the U.S. (37.3 kg/year) and Brazil (39.7 kg/year) was 4 times higher than the world average of 9.2 kg/year. In China (5.0 kg/year) per capita consumption of beef remains below the world average.

In the Medium Term, the Beef Market Is Set to Continue Moderate Growth

The expected population and income growth in Asia and Africa, along with stable demand from countries with traditional high per capita consumption of beef (USA, Brazil, etc.) will contribute to an increase in the consumption of beef in the world. In the medium term, meat consumption is projected to increase by +1.1% annually within 2016 - 2025. It is expected that by 2025, world beef consumption volume will reach 70.0M tonnes.

The U.S., Brazil and China Are Set to Remain the Leading Beef Producers

Global beef production remained constant from 2007 to 2016. In 2016, global production expanded to 65.4M tonnes.

The output of the three major producers of beef, namely the U.S. (12M tonnes), Brazil (9M tonnes) and China (7M tonnes), represented about 43% of global beef output. In China production levels increased by +1.5% annually from 2007 to 2016. The other countries kept their beef output relatively unchanged over the same period.

Hong Kong, Germany and the Netherlands Posted the Fastest Growth in Terms of Beef Imports

In 2016, the volume of global imports decreased by 7% to 7M tonnes. In 2016, the U.S. (922K tonnes), Japan (487K tonnes), the Netherlands (396K tonnes), Italy (381K tonnes), Russia (364K tonnes), Hong Kong (359 tonnes) and Germany (331K tonnes) were the leading destinations of beef imports, together making up 47% of global imports.

Amongst the major importing countries, Hong Kong (+20.6% per year), Germany (+4.3% per year) and the Netherlands (+3.4% per year) gained the highest annual rates of growth from 2007 to 2016.

Indian Suppliers Are Actively Increasing Beef Exports

Beef exports amounted to 8.8M tonnes in 2016, expanding at an average annual rate of +2.3% from 2007 to 2016. In 2016, India (1,260K tonnes), Australia (1,081K tonnes), Brazil (1,077K tonnes) and the U.S. (815K tonnes) were the main global suppliers of beef with a combined share of 48% of global exports.

The share of India (+7% percentage points) increased, while Brazil (-6 percentage points) weakened its position in terms of the global beef export from 2007 to 2016. The shares of the other countries remained relatively unchanged throughout the analyzed period.

Do you want to know more about global beef market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• beef market share
• beef prices
• beef industry
• beef sales
• beef import
• beef export
• beef market forecast
• beef price forecast
• key beef producers

Source: World: Beef (Cattle Meat) - Market Report. Analysis And Forecast To 2025