QYResearch: The global market for Beef is expected to reach about 232243 Million USD by 2021

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Beef is the culinary name for meat from cattle. Humans have been eating beef since prehistoric times. Beef is a complete source of protein (meaning that it provides all 20 of the amino acids), and provides many of the essential fatty acids, vitamins, and minerals that humans need.

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According to QYResearch, The global market for Beef is expected to reach about 232243 Million USD by 2021 from 237639 Million USD in 2016, registering a Compounded Annual Growth Rate (CAGR) of -0.46% during the analysis period, 2016-2021.

The major key driver for the growth of this market is the rise in income and urbanization.

Beef market is also driven by the increasing awareness of high protein consumption which is significantly met by the beef. Another factor which has contributed to the increase in beef consumption is certain food safety issues such as chemical residue and pathogen detection problems in other meat products such as pork and poultry.

While affected by seasonal consumption patterns, demand for beef has remained consistently strong. Developed markets are expected to face a significant rise in prices primarily due to the lower production from North America. In South America, cattle availabilities and slaughter have been rising, particularly in Argentina, Brazil, Paraguay, and Uruguay, following two years of herd rebuilding. www.qyresearchglobal.com

Key regions for beef consumption include Brazil, Argentina, Middle East and Africa.

These regions are expected to have strong growth, both domestic and export, that may result in firm cattle prices over the forecast period. Mexico was also a large regional market but the market is expected to operate under tight margins owing to high prices and lackluster demand. The key beef markets in Asia Pacific were China, India, Pakistan, Japan and Australia. China is one of the world’s largest markets for beef owing to improving lifestyle as the region has witnessed a significant rise in disposable income.

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