Ground Beef Market Continues to Flourish as Consumers Opt for Versatile and Affordable Meat Option With A CAGR Of 4.3%

The ground beef market is on the rise as consumers increasingly seek out affordable, versatile, and convenient meat options for their meals. Despite the challenges faced by the meat industry over the past year, the ground beef market has remained resilient and is projected to continue to grow over the coming years.

According to a recent market research report, the global ground beef market is expected to register a compound annual growth rate (CAGR) of 4.3% from 2021 to 2026. This growth can be attributed to the increasing demand for meat products, as well as the rising popularity of ground beef as a key ingredient in a variety of dishes, including burgers, meatballs, and tacos.




Key research findings:

· With Memorial Day being the largest hamburger grilling day of the year, and possibly rivaled by Independence Day, the demand for ground beef has remained strong for the past twelve months, after a sharp rise in the second quarter of 2021 (as indicated by the prices in the figure below).

· The ground beef market is a large and complex industry, with two major demand channels in retail grocery and food service. Each channel utilizes different supply chains that depend on a wide variety of lean and fat sources.


· Ground beef from retail grocery sources depends almost entirely on domestic sources of fresh beef, while food service ground beef uses a wider range of lean and fat sources. Within each channel, there are a variety of lean-to fat ground beef products, ranging from 70 percent lean (the minimum to be called ground beef) to over 90 percent lean.

· The ground beef market plays a critical role in balancing supply and demand for the vast array of products produced by the beef industry.


· The wholesale price for a 5:1 ratio of 90 percent lean to 50 percent lean trimmings, which is representative of the ground beef market, has remained high due to strong demand over the past year, with prices near record levels.

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Market analysis and segmentation:

By Market Players:
Tyson Foods Inc.
JBS USA Holdings Inc.
Cargill Meat Solutions Corp.
OSI Group LLC
Hormel Foods Corp.
SYSCO Corp.
National Beef Packing Co. LLC
American Foods Group LLC
Keystone Foods LLC
Greater Omaha Packing
CTI Foods LLC
Wolverine Packing Co.
Agri Beef Co.
West Liberty Foods LLC
Kenosha Beef International Ltd.

By Type:
Ground Chuck
Ground Sirloin

By Application:
Home
Commercial




Nutritional benefits of Ground beef:

· Ground beef is a good source of protein, iron, and several B vitamins. A 100-gram serving of 80% lean ground beef contains approximately 250 calories, 20 grams of protein, and 18 grams of fat, including 7 grams of saturated fat. Ground beef also contains essential minerals such as zinc, phosphorus, and selenium.

· However, it is important to note that excessive consumption of red meat, including ground beef, has been associated with increased risks of certain health issues, such as heart disease and certain types of cancer. Moderation and balance in the diet are key to maintaining good health.




Risks and safety regulation:

· There are some potential risks associated with ground beef consumption that consumers should be aware of. These include the risk of foodborne illness, such as E. coli or salmonella, which can be present in raw or undercooked ground beef. To minimize the risk of foodborne illness, it is important to handle and cook ground beef properly, following food safety guidelines.

· In addition to food safety concerns, there are also some safety regulations in place to ensure the quality and safety of ground beef. For example, the USDA requires that all ground beef sold in the United States be inspected and graded for quality. Ground beef products must also be labeled with information such as the percentage of lean meat, the processing plant's name and location, and safe handling instructions.

· To further ensure the safety of ground beef, the meat industry has implemented various measures, such as increased sanitation and testing protocols, to prevent contamination and reduce the risk of foodborne illness. Overall, while there are potential risks associated with ground beef consumption, following proper handling and cooking procedures and purchasing from reputable sources can help ensure its safety.




Recent Market trends:
· Some recent market trends in the ground beef industry include the growing popularity of grass-fed and organic ground beef, as well as the increasing demand for ground beef products with added flavours or spices.

· Consumers are increasingly interested in meat products that are raised in a more sustainable and environmentally friendly manner, leading to a rise in grass-fed and organic ground beef options.


· Additionally, many consumers are seeking out ground beef products with added flavorings, such as chili powder or garlic, to enhance the taste and variety of their meals.

· Another trend is the increasing availability of ground beef products in convenient and ready-to-eat formats, such as pre-formed burger patties or meatballs. Overall, these trends reflect consumers' desire for more flavourful, sustainable, and convenient options in the ground beef market.

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Report coverage:

· The factors which are mentioned in the document are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors etc.

· The entire profile of the organizations is mentioned like the capacity, production, price, revenue, cost, gross margin, income volume, income revenue, consumption, increase rate, import, export, supply & strategies. The technological tendencies that they're making are also covered inside the document. This document analysed 12 years data history and forecast.


· Data and information by market player, by region, by type, by application and custom research are added according to specific requirements.

· The Report incorporates the SWOT analysis of the market. Finally, the Report incorporates the belief element and conclusion part in which the evaluations of the economic professionals are covered.



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FAQs included in the report:

1. What is ground beef?

2. How is ground beef made?


3. What are the different grades of ground beef?

4. How should ground beef be stored and cooked to ensure safety?


5. What are the nutritional benefits of ground beef?

6. What are some common recipes that use ground beef?


7. What are some of the main challenges facing the ground beef industry?

8. How are meat producers addressing concerns around sustainability and animal welfare?
9. What are some alternatives to traditional ground beef products?

10. What are the current market trends in the ground beef industry?


11. What is the global market size for ground beef and how is it expected to grow in the coming years?

12. How is the COVID-19 pandemic affecting the ground beef industry?




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