U.S. Dry Aging Beef Market was valued at $10,446 million in 2015, and is expected to reach $11,176 million by 2020, supported by a CAGR of 1.3% during the forecast period 2016 to 2020.
Dry aging beef is a process in which the beef is placed or hung on racks for several weeks to facilitate drying. Primal (large distinct sections) or subprimal cuts, such as strip loins, sirloin, and rib eyes, are placed in refrigeration units to facilitate drying. This process incurs significant expenses, as beef must be stored at near freezing temperatures. Subprimal cuts are dry aged on racks in specially designed climate-controlled coolers. In addition, dry aging can be done in moisture-permeable drybags. This process involves the use of high grade meat with evenly distributed fat content. Hence, dry aged beef is available in steak restaurants and upscale butcher shops or grocery stores.
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Approximately 6% of the total dry aged beef is sold through online channels in the U.S. The sales through other channels constituted 94% share in the U.S. market in 2015. These channels include supermarkets, hypermarkets, retail shops, food service suppliers, and restaurants.
The key players profiled in the report are DrybagSTeak, LLC., DeBragga, The Ventura Meat Company, Buckhead beef, Chicago Steak Company, and American Grass Fed Beef.
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Key Findings of the U.S. Dry Aging Beef Market
- The U.S. is expected to be the leading producer and exporter of dry aging beef in 2015 across the globe.
- Dry aging beef market in the U.S. is expected to grow at a CAGR of 1.3% in terms of value during the forecast period.
- The dry aging beef packaging business in the U.S. is anticipated to grow at a CAGR of 1.7% in terms of value during the forecast period.
- The U.S. beef market registered a CAGR of 7.5% in terms of value during 20132015.
- Meat packers and meat processors held major share in the U.S. dry aging beef production in 2015.
- In 2015, business clients accounted for over two-thirds of the total revenue generated from sales of dry aging beef in the U.S. Business clients include wholesalers, retailers, hypermarket, supermarkets, restaurants, food service outlets, and grocery shops among others.
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