San Francisco, California (PRWEB) September 02, 2014
The global market for beef is expected to reach USD 2,151 billion by 2020, according to a new study by Grand View Research, Inc. Beef is the third largest consumed meat globally, with growing consumer preference towards meat as a source of protein expected to drive demand for beef over the forecast period. In addition, growing disposable income in emerging markets has resulted in increased consumption of beef in comparison to pork and poultry. In addition, the market is expected to witness significant growth owing to food safety issues such as chemical residue and pathogen detection in other meat products.
Ground beef was the largest consumed product, with demand exceeding 29,500 kilotons in 2013. Popularity of ground beef comes from its use in hamburgers and meatballs. Beef steaks are expected to be the fastest growing segment due to increased preference for high quality beef, particularly in North America. The segment is expected to witness growth at an estimated CAGR of 1.24% from 2014 to 2020.
The report “Beef Market Analysis, By Grade (Kosher, Halal), By Product (Ground Beef, Steaks, Cubed) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/beef-market-analysis
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the Global Beef market on the basis of grade, product and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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Grand View Research, Inc
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