Colombia Beef Market Size & Outlook, 2023-2030
Colombia beef market, 2017-2030 (US$M)
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Colombia beef market highlights
- The Colombia beef market generated a revenue of USD 3,742.4 million in 2023 and is expected to reach USD 5,088.3 million by 2030.
- The Colombia market is expected to grow at a CAGR of 4.5% from 2024 to 2030.
- In terms of segment, loin was the largest revenue generating cut in 2023.
- Brisket is the most lucrative cut segment registering the fastest growth during the forecast period.
Beef market data book summary
| Market revenue in 2023 | USD 3,742.4 million |
| Market revenue in 2030 | USD 5,088.3 million |
| Growth rate | 4.5% (CAGR from 2023 to 2030) |
| Largest segment | Loin |
| Fastest growing segment | Brisket |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Brisket, Shank, Loin |
| Key market players worldwide | Tyson Foods Inc Class A, NH Foods Ltd, Marfrig Global Foods SA ADR, Minerva SA ADR, Hormel Foods Corp, JBS SA ADR, Vion Food Group, Australian Agricultural Co Ltd, Cargill, Danish Crown |
Other key industry trends
- In terms of revenue, Colombia accounted for 0.7% of the global beef market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil beef market is projected to lead the regional market in terms of revenue in 2030.
- Colombia is the fastest growing regional market in Latin America and is projected to reach USD 5,088.3 million by 2030.
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Beef Market Scope
Beef Market Companies
| Name | Profile | # Employees | HQ | Website |
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Colombia beef market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to beef market will help companies and investors design strategic landscapes.
Loin was the largest segment with a revenue share of 36.34% in 2023. Horizon Databook has segmented the Colombia beef market based on brisket, shank, loin covering the revenue growth of each sub-segment from 2017 to 2030.
According to the USDA, in 2020, the Colombia consumed 1.55 billion pounds i.e, 1.20% of beef consumed globally. The United States—Colombia Trade Promotion Agreement (TPA) is likely to be a key factor driving market growth over the forecast period.
As per the agreement, Colombia has eliminated duties on high-quality beef and provides duty-free tariff rate quotas to promote economic growth, significantly expanding trade between the two countries. Colombia exports to countries such as Peru, Ecuador, Chile, and Panama but its key markets are Russia, Lebanon, Jordan, and Curacao.
Columbian beef trade was suspended by Russia and Curacao in 2017 due to an outbreak of foot-and-mouth disease, which restrained the market growth for a short term. However, in 2019, The Kingdom of Saudi Arabia granted phytosanitary certification for exports from four Colombian beef processors, allowing Colombian ranchers to tap into Saudi Arabia’s USD 400 million beef market, which provided the required boost to market growth.
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Our clientele includes a mix of beef market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Colombia beef market , including forecasts for subscribers. This country databook contains high-level insights into Colombia beef market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia beef market outlook size, by cut, 2017-2030 (US$M)
Colombia Beef Market Outlook Share, 2023 & 2030 (US$M)
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