The global beef
and veal market size is predicted to witness significant growth owing to
the increasing demand for high protein meat. This information is published by Fortune
Business Insights™ in an upcoming study, titled, “Beef and Veal Market,
2021-2028.” Beef and veal are among the most consumed types of meat across
the world. For instance, according to the North American Meat Institute
approximately 26.3 billion pounds of beef and 80.2 million pounds of veal were
consumed by the U.S.
The COVID-19 pandemic has been alarming for meat
eaters globally. Looking at the nature of the virus, the demand for
animal-derived meat witnessed a nosedive in the first quarter of the pandemic.
In addition, the resultant lockdowns and travel bans along with restaurants
shut down on a global scale had resulted in further reduction in the demand for
animal-derived meat including beef and veal. Prominent players in the meat
industry are opting for new strategies to overcome the crisis. At Fortune
Business Insights, we offer a comprehensive market report to help you
understand the pulse of the market.
Market Segregation
We have categorized the market on the basis of type,
distribution channel, and geography. In terms of type, the market is divided
into beef and veal. Based on distribution channels, it is fragmented into
supermarkets/hypermarkets, convenient stores, specialty stores, and online
retail. Lastly, on the basis of geography, it is segmented into North America,
Europe, South America, Asia Pacific, and the Middle East & Africa.
Highlights of the Report:
The report incorporates the segmentation of the market
on the basis of product, type, consumption, distribution channel, and region.
Based on the segmentation, we made a list of companies and conducted a detailed
analysis of their financial positions, product portfolios, and growth
strategies. Our next step included the study of core competencies of key
players and their market share to anticipate the degree of competition. The
bottom-up procedure was conducted to arrive at the overall size of the market.
Drivers & Restraints-
Rapidly Increasing Demand for Protein-enriched Meat to
Drive Growth
The rapidly increasing demand for high protein meat is
projected to drive the growth of the global beef and veal market. For instance,
According to a report by The National Center for Biotechnology Information on
future protein supply and demand, the demand for animal-derived protein
worldwide is predicted to double by 2050. In addition, the inclination toward
processed and ready-to-cook food among the urban population is estimated to
further strengthen the demand for beef and veal. However, the rapidly expanding
trend of veganism may hinder growth.
Regional Insights-
Substantial Customer Base in the Region to Help North
America Lead
North America is anticipated to dominate the global
beef and veal market during the forecast period. The substantial consumer base
for beef and veal products is predicted to boost their demand in the region. In
addition, the increasing demand for processed meat, such as sausages and
pastrami, from consumers in the U.S. is expected to further strengthen growth.
The improved supply chain of beef and veal is also expected to drive the market.
The market in Asia Pacific is estimated to flourish in
the projected timeline. Countries including India and China are the two most
populated countries in the world and account for the highest production of beef
and veal. This is predicted to propel the demand in the region.
Competitive Landscape-
Acquiring Local players to Aid Key Players Establish
their Business Internationally
Key manufacturers operating in the global beef and
veal market are focusing on expansion strategies. They are embarking on acquisitions
and mergers with the local players from the key regions. This will help them
expand their business on a global scale. For instance, in June 2019,
Délimax-Montpak announced the acquisition of Terrebonne-based Viandes Forget.
This will help both the companies expand their product sales across North
America.
Industry Developments-
·
In
September 2019, Délimax-Montpak
a meat production company from North America, launched Fontaine Family, a new
consumer brand that will provide superior quality of beef and veal. This type
of meat is GMO-free milk fed and grain-fed, making it of a better quality then
the other meats manufactured by them.
A List of Key Manufacturers Operating In the
Beef and Veal Market Report:
·
Tyson
Foods, Inc.
·
Danish
Crown AmbA
·
Cargill,
Incorporated
·
Marfrig
Global Foods S.A.
·
St
Helen’s Meat Packers Ltd.
·
National
Beef Packing Company, LLC.
·
Hormel
Foods Corporation
·
JBS
USA Food Company
·
Vion
Food Group
·
OSI
Group LLC.
·
Australian
Agricultural Company Ltd.
·
Others
Browse Summary
https://www.fortunebusinessinsights.com/beef-and-veal-market-102446
