IndexBox, Inc. has just published a new report “World – Beef (Cattle Meat) – Market Analysis, Forecast, Size, Trends and Insights“. Here is a summary of the report’s key findings.
Beef Imports
In 2017, approx. 8.9M tonnes of beef were imported worldwide; ascending by 2% against the previous year level. The total import volume increased at an average annual rate of +2.3% over the period from 2007 to 2017; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2014, an increase of 6% y-o-y. Over the period under review, beef imports reached its maximum volume in 2017, and are expected to retain its growth in the near future.
In value terms, beef imports totaled $44B in 2017. Overall, it indicated a remarkable growth from 2007 to 2017: the total imports value increased at an average annual rate of +2.3% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Global import peaked of $45B in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.
Beef Imports By Country
The imports of the twelve major importers of beef (cattle meat), namely the U.S., Viet Nam, China, Japan, China, Hong Kong SAR, Italy, South Korea, the Netherlands, Germany, Russia, the UK, and France, represented more than half of total import.
From 2007 to 2017, the most notable growth rate of imports, among the main importing countries, was attained by Viet Nam (+29.5% per year), while the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($5B), Japan ($3.1B), and China ($3.1B) appeared to be the countries with the highest levels of imports in 2017, together accounting for 26% of global imports. These countries were followed by Viet Nam, South Korea, Germany, Italy, China, Hong Kong SAR, the Netherlands, the UK, France, and Russia, which together accounted for a further 39%.
Viet Nam (+34.2% per year) had the highest growth rate of imports, among the main importing countries, over the last 10 years, while the other global leaders experienced more modest paces of growth.
Beef Import Prices By Country
The average beef import price stood at $4,960 per tonne in 2017, rising by 5% against the previous year. Over the last ten years, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2008 when it surged by 18% year-to-year. Global import price peaked of $5,383 per tonne in 2014; however, from 2015 to 2017, it failed to regain its strength.
Import prices varied noticeably by country of destination; the country with the highest import price was Germany ($6,165 per tonne), while Viet Nam ($3,121 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by the U.S. (+5.4% per year), while the other global leaders experienced more modest paces of growth.
Description
This report provides an in-depth analysis of the global beef market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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