Global beef market revenue amounted to US$259,182 million in 2015, dropping by -15.8% compared to the previous year.
Overall, global beef market continues to undergo a moderate decline: the market value decreased at an average annual rate of -0.2% between 2007 and 2015.
There were, however, some noticeable fluctuations recorded in the period under review.
Growth accelerated in 2011, when market revenue increased by +14% compared to 2010.
During the period under review, the global beef market attained its maximum revenue of US$309,627 million in 2013.
From 2014 to the end of the reporting period, the total beef market revenue failed to regain its former peak level.
An increase in global beef production over the analyzed period was primarily driven by the growth in disposable income and the population.
These key drivers are expected to continue promoting the beef output in the short-term.
This general positive trend was largely as a result of a measured expansion of the number of slaughtered animals and a moderate improvement of the yield figures.
Countries with the highest levels of production in 2015 were the United States (11,304 thousand tonnes), Brazil (9,984 thousand tonnes), China (6,689 thousand tonnes), together accounting for 42% of total output.
From 2007 to 2015, the most notable growth rate in almond production among the main producing countries was attained by China (+1.7% per year), while the other global leaders experienced mixed trends in the output figures.
The world number of slaughtered animals for beef production amounted to 307,371 thousand head in 2015, which was 1.5% higher than the previous year’s figure.
The number of slaughtered animals for beef production indicated a slight increase over the period under review, representing a compound annual growth rate of +0.7% between 2007 and 2015. This trend was relatively stable throughout the analyzed period.
During the period under review, the total number of slaughtered animals for beef production peaked in 2015, and is likely to continue its expansion in the short-term, due to rising demand for beef globally.
The global average beef yield/carcass weight amounted to 2 thousand hg/An in 2015, fluctuating near the previous year’s level.
The yield figures recorded an upward trend over the period under review, with a compound annual growth rate standing at +0.0%. These yield figures maintained a stable trend throughout the analyzed period.
The highest beef yields were recorded in 2014, where it peaked at 2 thousand hg/An. Afterwards; it decreased slightly and then fluctuated around these levels throughout the analyzed period.
SOURCE: WORLD BEEF (CATTLE MEAT) MARKET REPORT ANALYSIS AND FORECAST TO 2025
Meatco's Natures reserve