PUBLISHER: Allied Market Research | PRODUCT CODE: 1641767
PUBLISHER: Allied Market Research | PRODUCT CODE: 1641767
U.S. Beef Market
The U.S. beef market was valued at $124.5 billion in 2022 and is projected to reach $164.2 billion by 2032, growing at a CAGR of 2.8% from 2023 to 2032.
Beef is a category of red meat obtained from different cattle, primarily adult cows. The distinctive flavor and texture of beef are attributed to its combination of muscle tissue, connective tissue, and fat. Different forms of cuts in beef result in varying textures & tastes and it is considered a nutrition-rich food due to the abundance of protein, vitamin B, iron, zinc, and fat. Beef cuts majorly consumed in the U.S. include loin, chuck, rib, and round.
High efficiency in the production of good quality meat in the U.S. owing to advancements in breeding and feeding technologies is a key driver of the U.S. beef market. In addition, position of the U.S. as one of the top exporters of beef globally maintains a constant demand, which augments the development of the market. According to Pasture.io-an online web platform-exports bring significant revenue in the U.S. and contribute to 15% of the production owing to high demands from Asia and several countries of North America. A key trend dominating the U.S. beef market currently is the reduction of environmental impact of its production. Stakeholders are making considerable investments in R&D to reduce the environmental effects of beef production, along with enhancing the health of cattle.
However, rise in infections among cattle, which are caused by pests such as New World Screwworm, is expected to reduce their slaughter and hamper the development of the market. According to the U.S. Department of Agriculture, projected reduction in slaughter has decreased the 2025 beef production forecast by 25.665 billion pounds, which was 615 million pounds in December 2024. Contrarily, the usage of health tech and wearables with robust sensors to monitor the health of cattle is projected to present remunerative opportunities for the U.S. beef market.
Segment Review
The U.S. beef market is segmented into distribution channel, product type, and cut type. On the basis of distribution channel, the market is divided into supermarket & hypermarket, retail store, wholesaler, e-commerce, and others. Depending on product type, it is classified into loin, chuck, round, brisket, rib, and others. As per cut type, it is categorized into ground beef, steaks, roasts, cubed, and others.
Key Findings
On the basis of distribution channel, the supermarket & hypermarket segment was the highest shareholder in 2023.
Depending on product type, the loin segment acquired a notable stake in the market in 2023.
As per cut type, the ground beef segment dominated the market in 2023.
Competition Analysis
The major players in the U.S. beef market include Tyson Foods, Inc., JBS USA Holdings, Inc., CARGILL MEAT SOLUTIONS CORPORATION, NATIONAL BEEF PACKING COMPANY LLC, Hormel Foods Corporation, Smithfield Foods, Inc., Greater Omaha Packing Co., Inc., American Foods Group, LLC, OSI Group, and Perdue Farms, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
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