Asia-Pacific Pegged to Record the Fastest Growth in the Global Dry Aging Beef Market, Led by China and India

Wed, 13 May 2020 2:15

Market Introduction

Dry aging refers to the process of tenderizing beef and enhancing its flavor. The beef is hung for several weeks in a temperature-controlled, relative humidity, and airflow environment. The high nutritional value of dry-aging beef, changing consumer eating habits and improving consumer spending drive the dry aging beef market.

COVID-19 Impact Analysis: Plight of the Meat industry

The COVID-19 pandemic crisis has raised a lot of questions on the meat industry and the practices involved. The epidemics of the last decade, 'Mad Cow' in the 2000s, SARS in 2003, the Bird Flu in 2005, and the current COVID-19 are somehow related to the meat industry. The increase in the number of such incidents had a major influence on the behavior and reshaped what foods individuals buy and how. The uncertainty regarding the safety of meat products among consumers is strengthening the global vegan movement.

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Amid the COVID-19 crisis, the meat industry has observed a sharp decline in the prices of meat products, especially beef and pork. But the lockdowns have created a supply chain deficit in the market for poultry meats, leading to a spike in the prices. The overall situation has created volatility in the meat industry, which has made the normal business growth plans in the meat industry go awry.

Asia-Pacific: A Growing Market Force

Asia-Pacific is expected to be the fastest-growing market for dry aging beef during the assessment period. Continuous population growth, steady economic progress, changing eating habits, and improving living standards, especially across developing economies, contribute to the growth of the dry-aging beef market. China and India lead the regional market. China is the fourth-largest producer of beef in the world, with an annual production of around 7.4 million metric tons in 2019.

Dry Ageing Beef Market: Key Players

  • Indian Ridge Provisions
  • DeBragga and Spitler
  • The Ventura Meat Company
  • Sysco Corporation
  • Chicago Steak Company
  • Creek Bed Country Farmacy, LLC
  • Fairway Packing Company
  • The Butcher's Market
  • West Coast Prime Meats
  • Chicago Steak Company
  • American Grass Fed Beef
  • DrybagSTeak, LLC

Dry Ageing Beef Market Segmentation

By Nature

  • Organic
  • Conventional

By Grade

  • Prime Beef
  • Wagyu Beef
  • Choice Beef
  • Others

By Distribution Channel

  • B2B
  • B2C
    • Store-Based Retail
      • Hypermarkets and Supermarkets
      • Restaurants
      • Food Chain
      • Others
    • Online Retail

By Regions

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Indonesia
  • Singapore
  • Pakistan
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • Turkey
  • The Rest of Middle East

Africa

  • Nigeria
  • South Africa
  • The Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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