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Beef Market Average Price By Player, 2014 - 2025 - Million Insights

In terms of slaughter method, the beef market can be classified into halal and kosher. The kosher segment is anticipated to hold the largest market share over the forecast period owing to increasing consumption across the globe. Growing awareness among consumers regarding the health benefits of consuming Kosher such as quality and food safety is expected to impel the segment’s growth. Kosher is mostly consumed by the Jewish population across the globe. Based on product type, the beef industry can be categorized into the shank, brisket, flank, chuck, loin, and others. The shank segment is anticipated to exhibit significant CAGR over the forecast period. Shank is present in the forearms of the animal in front of the brisket. It is mostly used to make low-fat ground meat.

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Regional segmentation includes North America, Asia Pacific, Europe, Central and South America, and the Middle East and Africa. In 2017, North America dominated the market and accounted for the largest market share. The US was the largest producer of beef in the world and it is likely to dominate the market over the forecast period. This is attributed to the rising demand for processed meat especially loin cuts among consumers. In addition, an increasing number of food outlets selling processed meat is contributing well to market growth. Moreover, the growing Islamic and Jewish population in the US and rising consumption of halal and kosher meat will drive regional market growth in the coming years.

The Asia Pacific, on the other hand, is predicted to exhibit the highest CAGR over the forecast period. This is attributed to the rising demand for beef in countries such as India, China, and Japan. Increasing disposable income and improving the lifestyle of people residing in China are driving regional growth. In addition, people are getting aware of regarding nutritional benefits of beef over other forms of meat. This factor is also expected to impel market growth in this region. Moreover, the increasing number of export activities in India will drive regional market growth in the coming years.

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