The global grass-fed beef market is set to experience stable growth, with a projected CAGR of 4.4% between 2021 and 2025, potentially reaching nearly US$13.3 billion by the end of the forecast period. This growth is attributed to the rising demand for clean meat among health-conscious consumers and increased awareness of the environmental impact of conventional livestock rearing practices.
Key Highlights of the Report:
- The global grass-fed beef market is expected to be valued at around US$13.3 billion by the end of 2025, with a CAGR of 4.4% during the forecast period.
- Health-conscious consumers and environmental concerns are driving the demand for grass-fed beef.
- The COVID-19 pandemic disrupted the supply chain and highlighted the need for stringent regulatory frameworks in the grass-fed beef industry.
Market Insights:
The global demand for grass-fed beef is on the rise as consumers become more health-conscious and environmentally aware. Increased awareness of the use of antibiotics and hormones in conventional beef production has driven consumers to seek cleaner meat options. Grass-fed beef has gained popularity through various channels, including television, the internet, events, and documentaries that shed light on the negative effects of antibiotics on animals and, subsequently, human health.
Government interventions to promote healthier dietary habits have also contributed to the growth of the grass-fed beef market. Consumers are increasingly choosing meat products that align with their health and environmental values.
Growth Drivers:
- Increased Use of Antibiotics and Livestock Diseases: Consumer awareness regarding health and environmental concerns is driving the demand for grass-fed beef. The use of antibiotics, supplements, and hormones in conventional beef production has raised concerns about the impact on both animal and human health. Government regulations are also favoring healthier dietary choices.
- Booming Health Awareness: General awareness about personal health, the environment, and animal welfare is fueling the demand for grass-fed beef. Consumers are actively seeking healthier meat options as the use of antibiotics and hormones in conventional beef production becomes more widely known.
Market Challenges:
- Time-Consuming Cattle Rearing: Grass-fed beef production is a time-consuming process, with cattle raised on grass throughout their entire life. This extended production timeline, coupled with an unorganized supply chain, poses challenges for the grass-fed beef market.
COVID-19 Impact:
The COVID-19 pandemic disrupted the supply and sales of grass-fed beef, especially in countries highly dependent on imports. For instance, the U.S., one of the largest consumers of beef, saw a significant impact on its grass-fed beef sales due to disruptions in the supply chain.
The pandemic also highlighted the need for stringent regulatory frameworks, leading to the development of new standards for the supply and distribution of grass-fed beef in various countries.
Overview of Key Segments:
- Conventional Grass-Fed Beef Favored: In 2020, conventional grass-fed beef products accounted for 78.2% of the market share. Disruptions in the global supply chain during the COVID-19 pandemic led to a surge in demand for conventional beef, reshaping trade norms.
Growth Opportunities Across Regions:
- North America and Latin America: These regions collectively held a 71.6% share of the global grass-fed beef market in 2020, driven by a growing preference for quality meat and environmental concerns.
- Asia Pacific: Significant growth is expected in the Asia Pacific region, with countries like China, Australia, and Japan contributing substantially. Australia is poised to become one of the largest grass-fed beef producers.
Key Market Players:
Major players in the grass-fed beef market include Conagra Brands, Inc., Pre Brands LLC, Hormel Foods Corporation, JBS SA, Perdue Farms, Inc., Teys Australia Pty Ltd, Meyer Natural Food, Australian Agricultural Company Limited, Verde Farms, and The Asian New Zealand Meat Company (ANZCO). These players are collaborating with farmers to ensure a steady supply of grass-fed cattle and are exploring ways to increase production capacity to meet growing demand.
Browse Global Grass-Fed Beef Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021-2025 – [2023 UPDATE Available – Forecast 2023-2030*] (By Product Type Coverage(Raw, Processed), Nature Coverage(Organic, Conventional), Sales Channel Coverage(Direct,Retail), By Geography, Leading Companies): https://www.fairfieldmarketresearch.com/report/grass-fed-beef-market
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Plant Based Beef Market: https://www.fairfieldmarketresearch.com/report/plant-based-beef-market
Halal Beef Market: https://www.fairfieldmarketresearch.com/report/halal-beef-market
Contact
Fairfield Market Research
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Web: https://www.fairfieldmarketresearch.com/
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This press release first seen on Brilad
COMTEX_440946574/2840/2023-09-26T02:00:06
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Smart Herald journalist was involved in the writing and production of this article.