The report, published in Q2 2022, estimated that by 2022 end, the sector would be worth $414 billion. In terms of monetary value, research firm Fortune Business Insights believes that the global beef market was worth $395 billion in 2021. Why will Europe's beef production fall in the future? Well, advances in milk production technology take some of the blame, as they enable more milk output per cow and result in a subsequent decrease in cow inventory. Segregating the developed world via regions, Europe's 5% production drop will be the primary reason for the static growth, even as North America is projected to grow production by 6%. In comparison, all of the growth will come courtesy of the developing world, which produced 40.6 Mt of beef in 2021 and will grow this to 46.2 Mt by 2030. Production in the developed world will nearly remain static during this time period, as the beef output, which stood at 30 Mt in 2021, will only grow to 30.1 Mt by 2030. Data shows that beef represents 24% of the world's meat consumption, while the number one meat, pork, accounts for 36%.Īdditionally, the FAO also believes that global beef production will sit at 75.9 Mt by 2030 after it stood at 70.5 Mt in 2021 for an estimated growth rate of 5.8%. According to data from the United Nations Food and Agriculture Organization (FAO), beef is the third most popular meat in the world, after pork and poultry. It is typically defined as the meat of cattle, or bovine animals, with cows and buffaloes being the most common kinds. For more countries, head on over to 5 Countries that Export the Most Beef in the World.īeef is one of the most widely eaten meat in the world. In this piece, we will take a look at the 15 countries that export the most beef in the world.
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