Australia Beef Market Size, Share Analysis and Forecast Report 2024-2032

Australia Beef Market Trends

The Australia beef market is well-regarded for its premium quality, providing exceptional taste and tenderness. Most cattle are grass-fed, which enhances flavour and nutritional value, while free-range farming practices support animal welfare and produce healthier meat. Rich in essential nutrients like protein, iron, and zinc, Australian beef contributes to a balanced diet. The strong global export market supplies various countries, boosting international trade. Australia ranks among the world's largest beef consumers, with per capita consumption averaging 23.4 kg in 2023, according to DAFF.

The Australia beef market significantly bolsters the country’s economy, supporting rural communities and creating numerous jobs throughout the supply chain, from farming to processing. Many producers emphasise environmentally sustainable practices, reflecting increased consumer awareness. Strict regulatory standards ensure food safety and quality, enhancing consumer trust. Advanced technologies improve breeding and processing efficiencies, further boosting growth of the Australia beef market. In July 2023, eGrazor was launched, using accelerometers like pedometers to track when animals walked, grazed, or rested. Enhanced with GPS, these technologies provided valuable insights into animal behaviour and location. Research began on computer vision and machine learning to analyse livestock behaviour, with cameras detecting individual animals and filtering out non-target objects.

Australia Beef Market Growth

The Australia beef market is supported by robust traceability systems that ensure transparency and safety throughout the supply chain. Continuous investment in research and development improves production methods and beef quality. High animal welfare standards are maintained across the industry, and many producers focus on supporting local markets and strengthening community ties. In February 2023, Premium Pastures launched a new range of low-fat beef products, including lean mince and steaks, designed to meet the rising consumer demand for healthier meat options while retaining the rich flavour and quality associated with Australian beef, appealing to fitness enthusiasts and health-conscious families.

The Australia beef market benefits from global brand recognition for its quality, enhancing its marketability. The diverse product range caters to various consumer preferences, ensuring broad appeal. The growing global demand for high-quality beef drives market growth, while beef's cultural significance in Australia contributes to national identity. Additionally, Australian cattle breeds are well-suited to various climates, ensuring resilience in production. According to the ABS, in 2023, Australian beef and veal exports reached 1.08 million tonnes shipped weight (swt), a 27% increase year-on-year.

Australia Beef Market Insights

• According to DAFF, in 2023, the cattle population was 676,592, alongside 18,356 goats and 6,237 buffalo, supporting the beef market, as livestock exports are crucial to the economy.
• In 2022, Australia produced 1.9 million tonnes of beef and veal, with production anticipated to rise by 2% to 2.5 million tonnes in 2024–25, as reported by ABS.
• Industry reports indicate that in 2022, Australia exported 67% of its beef and veal production, valued at A$10.4 billion, making it one of the largest beef exporters globally.
• The Western Australia market share is expected to grow significantly, with a projected compound annual growth rate (CAGR) of 15.8% from 2024 to 2032.
• The Australian Capital Territory and Victoria are forecast to grow at CAGRs of 1.4% and 1.1%, respectively, from 2024 to 2032.
• The loin segment is projected to grow at a CAGR of 1.5% from 2024 to 2032.

Industry News

October 2023

ABC Beef Co. unveiled a new range of organic grass-fed beef cuts, emphasising sustainability and high animal welfare standards. The offerings, which include sirloin steaks and mince, are aimed at health-conscious consumers looking for premium quality and flavour while supporting environmentally friendly farming practices.

August 2023

Gourmet Meats Australia launched a selection of marinated beef skewers, available in flavours like lemon herb and spicy garlic. These ready-to-cook products are designed for convenience, appealing to busy families and BBQ lovers, providing a quick and tasty meal option that showcases the quality of Australian beef.

Australia Beef Market Drivers

Sustainability and Ethical Practices

The Australia beef market is benefiting from a growing emphasis on sustainability, with consumers increasingly favouring ethically sourced products. Farmers are adopting regenerative agriculture methods that prioritise soil health and biodiversity. Certification schemes, such as grass-fed and organic labels, are becoming more popular, reassuring consumers about environmentally friendly practices. Awareness of climate change and animal welfare is a significant trend in the Australia beef market, prompting producers to align their practices with consumer values. Brands that effectively convey their sustainability initiatives are likely to gain a competitive edge, appealing to a market that prioritises transparency and responsibility in food sourcing. In April 2023, the Cattle Council of Australia introduced a new policy framework focusing on sustainability and ethical farming practices in the beef industry. This policy aims to enhance animal welfare, minimise environmental impacts, and improve traceability throughout the supply chain, ensuring the industry meets modern consumer expectations.

Health and Nutrition Focus

The Australia beef market is experiencing growth as health-conscious consumers increasingly seek leaner, nutrient-dense beef options. There is a growing interest in the nutritional advantages of beef, including its high protein content, essential vitamins, and minerals. This trend is evident in the popularity of low-fat cuts and grass-fed beef, viewed as healthier choices. Furthermore, ready-to-eat and convenience products, such as beef jerky and pre-marinated cuts, cater to busy lifestyles while prioritising quality. Brands are highlighting the health benefits of their products in their marketing strategies, appealing to consumers who want nutritious meal options without compromising on flavour. In May 2023, Outback Beef launched its new range of ready-to-eat beef pies, made with premium beef and traditional recipes. Available in various flavours, these pies provide a quick and satisfying meal solution for consumers, reflecting the brand's commitment to quality and the rich culinary heritage of Australian beef.

Opportunities in the Australia Beef Market

Technology and Innovation

The Australia beef market is experiencing growth as technology integration transforms the industry. Innovations in precision agriculture, including GPS tracking and data analytics, are optimising farming practices and boosting productivity. Traceability systems are being introduced to ensure food safety and transparency, allowing consumers to trace the origin of their beef. Advances in processing technology enhance efficiency and reduce waste, contributing to a more sustainable supply chain. Moreover, the expansion of e-commerce platforms enables producers to connect with a wider consumer base. By embracing these technological advancements, the industry is well-positioned for growth and adaptation in an evolving market. In August 2023, CSIRO launched a new artificial intelligence tool aimed at optimising cattle breeding practices. This technology analyses genetic data to predict desirable traits, helping producers make more informed breeding decisions. The initiative seeks to enhance herd productivity and overall beef quality in Australia.

Market Restraints

The Australia beef market encounters several significant restraints, including climate change, which results in extreme weather events that impact cattle production and pricing. Increasing feed costs due to fluctuating grain prices compress profit margins, while tougher animal welfare regulations raise operational expenses. Additionally, competition from plant-based alternatives and shifting consumer preferences towards healthier choices pose challenges to traditional beef consumption.

Trade barriers, such as tariffs, restrict export opportunities, and health concerns associated with red meat may dissuade some consumers. Market volatility adds uncertainty for producers, and labour shortages in the agricultural sector hinder production efficiency. Lastly, adhering to strict food safety regulations can be resource-intensive, affecting overall market competitiveness.

Australia Beef Industry Segmentation

“Australia Beef Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Cut

• Shank
• Brisket
• Loin
• Others

Market Breakup by Slaughter Method

• Kosher
• Halal
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online
• Others

 Market Breakup by Region

• New South Wales
• Victoria
• Queensland
• Australian Capital Territory
• Western Australia
• Others

Australia Beef Market Share

By Cut Insights

The Australia beef market is flourishing, with shank cuts highly valued for their rich flavour and tenderness, particularly when slow-cooked, making them perfect for hearty dishes like stews. As a more affordable option, they attract budget-conscious families while providing quality protein. Their versatility in cooking methods supports sustainable practices by making use of the entire animal and reducing waste. In September 2023, Meat & Livestock Australia promoted the versatility of shank cuts in a new campaign, highlighting their growing popularity among home cooks and chefs.

The Australia beef market is thriving, with brisket emerging as a highly desirable choice for barbecuing and smoking, leveraging Australia’s lively barbecue culture and growing consumer interest. Its rich marbling enhances both flavour and juiciness, making it a top choice for chefs and quality-conscious consumers, thus increasing the Australia beef industry revenue. As gourmet food trends gain momentum, brisket is increasingly showcased in restaurants, and its cultural significance further enhances its appeal for communal meals and celebrations. In July 2023, Australian Beef launched a marketing campaign to promote brisket as a premier cut for barbecuing and smoking, highlighting its rich marbling and flavour to attract BBQ enthusiasts and boost consumption, reinforcing its status as a beloved option among consumers.

By Slaughter Method Analysis

The Australia beef market is thriving, with kosher beef seeing a rise in demand from Jewish communities both locally and globally, offering new opportunities for compliant producers. The kosher certification process imposes strict guidelines for animal welfare and hygiene, guaranteeing high-quality meat. Additionally, kosher beef meets specific dietary laws, enhancing its cultural relevance and allowing producers to stand out in a competitive market. In September 2023, Kosher Australia announced a new certification programme for local beef producers, aiming to increase the availability of kosher-certified products while maintaining high standards of quality and animal welfare.

The Australia beef market is thriving, driven by increasing demand for halal beef, especially among Muslim communities in Australia. This trend presents new opportunities for producers who meet halal standards. The segment is projected to grow at a CAGR of 1.6% from 2024 to 2032. Halal certification enforces rigorous animal welfare and slaughter practices, which builds consumer trust. This beef aligns with Islamic dietary laws, making it vital for Muslim consumers and attractive to health-conscious shoppers looking for ethically sourced products. In August 2023, Halal Australia introduced a comprehensive certification programme for local beef producers, ensuring compliance with halal standards and supporting the growing market for halal beef, while reassuring consumers about the ethical sourcing and processing of their meat.

By Distribution Channel Insights

The Australia beef market is thriving, with speciality stores playing a crucial role by catering to specific consumer preferences. These stores offer a carefully curated selection of premium and organic cuts, appealing to customers who prioritise quality. Knowledgeable staff enhance the shopping experience through personalised service. Many of these stores focus on local sourcing, promoting sustainability and fostering community ties, while also providing unique beef varieties that enrich culinary experiences. In August 2023, Farmers' Market introduced a range of locally sourced speciality beef products, including organic and heritage cuts, supporting local farmers, and highlighting the store’s commitment to sustainable and ethical food practices.

The Australia beef market is also boosted by online sales, which significantly enhance convenience and accessibility for consumers. Shoppers can browse products and compare prices from home, while e-commerce expands producers' market reach beyond local areas, creating new sales opportunities. Subscription services ensure regular deliveries, helping to retain customers, and detailed product information fosters transparency and trust regarding sourcing and quality. In July 2023, Meat Direct launched a new online platform showcasing a diverse range of beef products, including ready-to-eat meals and speciality cuts, aiming to attract a wider audience, including busy families and gourmet chefs seeking convenience without compromising quality.

Australia Beef Market Regional Insights

New South Wales Beef Market Regional Insights

New South Wales (NSW) plays a crucial role in Australia’s beef market, contributing significantly to national production. The region features a variety of beef cattle, including grain-fed and grass-fed options. In 2022, NSW produced about 875,000 tonnes of beef, emphasising sustainability and animal welfare to meet consumer demands.

Queensland Beef Market Trends

As per the Australia beef market analysis, Queensland is the leading beef-producing state in Australia, renowned for its extensive cattle ranching. In 2023, the state produced approximately 1.4 million tonnes of beef, representing over 50% of the national output. Increased demand for grass-fed beef reflects health-conscious consumer trends and a growing export market, especially to Asia.

Western Australia Beef Market Dynamics

Western Australia is projected to grow at a CAGR of 1.3% from 2024 to 2032. Western Australia (WA) is an important contributor to Australia’s beef supply, catering to both domestic and export markets. In 2022, WA produced around 350,000 tonnes of beef. There is a rising interest in organic and premium beef, driven by ethical sourcing preferences, and supported by government initiatives for sustainable production.

Competitive Landscape

The Australia beef market key players focus on high-quality beef products and are recognised for their dedication to excellence, sustainability, and animal welfare. They procure cattle from trustworthy local suppliers, guaranteeing top-notch quality and freshness in their meat products. By prioritising innovation, these companies utilise advanced processing methods to offer a diverse range of cuts and value-added items for both domestic and international markets. Their commitment to traceability and ethical sourcing highlights a strong focus on customer satisfaction and environmental stewardship.

Key Industry Players

Baybrick Pty Ltd.: Established in 1998, Baybrick Pty Ltd. is an Australian company specialising in premium meat products, particularly beef. Known for its commitment to quality and sustainable sourcing, Baybrick caters to both local and international markets, offering a diverse range of cuts and value-added products to satisfy various consumer preferences.

Australian Agricultural Company Limited: Founded in 1824, the Australian Agricultural Company Limited (AACo) is one of the oldest and largest beef producers in Australia. With a focus on sustainable farming, AACo oversees extensive cattle stations and produces high-quality beef for domestic and international markets, emphasising traceability and animal welfare.

NH Foods Australia Pty Ltd.: A subsidiary of NH Foods Ltd., a major Japanese food company, NH Foods Australia Pty Ltd. was established to provide high-quality meat products within Australia, focusing on beef, pork, and value-added offerings. The company is dedicated to quality and innovation, serving both the retail and food service sectors.

Teys Australia Pty Ltd.: Founded in 1946, Teys Australia Pty Ltd. is a prominent beef processing company in Australia. Renowned for its premium quality meat, Teys operates several processing facilities nationwide and is committed to sustainable practices, animal welfare, and delivering high-quality products to both domestic and international markets.

Other key players in the Australia beef market report are Kilcoy Pastoral Company Limited, Greenham Group, Mort & Co Holdings Ltd., Stanbroke, Nolan Meats Pty Ltd. and Bindaree Food Group, among others.

Recent Developments

June 2023

Outback Beef introduced its new range of premium Wagyu beef products, featuring ribeye and flank steaks. Sourced from carefully selected farms, this collection highlights rich marbling and tenderness, appealing to both gourmet chefs and home cooks, while demonstrating the exceptional quality of Australian Wagyu beef.

February 2023

True Aussie Beef launched a variety of ready-to-eat beef jerky snacks, available in flavours such as smoky BBQ and spicy sriracha. Targeting health-conscious consumers, these high-protein snacks offer a convenient choice for busy lifestyles, underscoring the brand's dedication to quality Australian beef.