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As the core technology of 5G mobile communication systems, massive multi-input multi-output (MIMO) can dramatically enhance the energy efficiency (EE), as well as the spectral efficiency (SE), which meets the requirements of new applications. Meanwhile, physical layer multicast technology has gradually become the focus of next-generation communication technology research due to its capacity to efficiently provide wireless transmission from point to multipoint. The availability of channel state information (CSI), to a large extent, determines the performance of massive MIMO. However, because obtaining the perfect instantaneous CSI in massive MIMO is quite challenging, it is reasonable and practical to design a massive MIMO multicast transmission strategy using statistical CSI. In this paper, in order to optimize the system resource efficiency (RE) to achieve EE-SE balance, the EE-SE trade-offs in the massive MIMO multicast transmission are investigated with statistical CSI. Firstly, we formulate the eigenvectors of the RE optimization multicast covariance matrices of different user terminals in closed form, which illustrates that in the massive MIMO downlink, optimal RE multicast precoding is supposed to be done in the beam domain. On the basis of this viewpoint, the optimal RE precoding design is simplified into a resource efficient power allocation problem. Via invoking the quadratic transform, we propose an iterative power allocation algorithm, which obtains an adjustable and reasonable EE-SE tradeoff. Numerical simulation results reveal the near-optimal performance and the effectiveness of our proposed statistical CSI-assisted RE maximization in massive MIMO.