Global beef market expected to get a boost from demand for halal beef

The global market for beef is expected to reach US$2,151 billion by 2020, according to a new study by Grand View Research. According to the company, beef is the third-most consumed meat globally, with a growing consumer preference towards meat as source of protein expected to drive demand for beef over the forecast period. 

Steaks purchased in Muscat, Oman.

Increasing demand for halal beef in predominantly Islamic nations in Middle East and Africa is expected to have a positive impact on the market 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. Further, 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 kilo tons in 2013. Popularity of ground beef comes from its use in hamburgers and meat balls. Beef steaks are expected to be the fastest growing segment due to increased preference for high quality beef. 

The report, Beef Market Analysis, By Grade (Kosher, Halal), By Product (Ground Beef, Steaks, Cubed) And Segment Forecasts To 2020, can be purchased here.