What Is the Projected Growth for Grass Fed Beef Market
The grass-fed beef market share is expected to increase by USD 39.95 bn from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 14.72%.
This grass-fed beef market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers grass-fed beef market segmentations by product (fresh grass-fed beef and processed grass-fed beef) and geography (North America, APAC, Europe, South America, and MEA). The grass-fed beef market report also offers information on several market vendors, including Conagra Brands Inc., Donald Russell Ltd., Fanatical Foods Ltd., Hormel Foods Corp., JBS SA, Perdue Farms Inc., Primal Web Ltd., Rain Crow Ranch, Sysco Corp., and Verde Farms among others.
What will the Grass-fed Beef Market Size be During the Forecast Period?
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Grass-fed Beef Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era.The new product launches influencing grass-fed beef consumption is notably driving the grass-fed beef market growth, although factors such as premium price of grass-fed beef may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the grass-fed beef industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Grass-fed Beef Market Driver
New product launches influencing grass-fed beef consumption is the major driver of the growth of the grass-fed beef market. Successful product launches aid the growth of the players and the market by increasing the revenue flow of a company and expanding its consumer base. They also help the players gain higher market shares and offer them a competitive edge over their competitorsThe New Primal launched its Beef Thin, a savory and snackable jerky product. The company claims that the new product line features thinly-sliced 100% grass-fed, grass-finished beef. In April 2019, Teton Waters Ranch, one of the pioneer companies that offer 100% grass-fed and finished beef, announced the launch of its brand-new Burger Blends. The new frozen burger patties are made from a unique blend of 100% grass-fed beef and savory mushrooms and are the first of their kind available in the frozen food aisle. In October 2019, Lorissa's Kitchen announced the product launch of Whole-Made Medley Bars that combine dried fruit, nuts, seeds, egg whites, and grass-fed beef or chicken.
Key Grass-fed Beef Market Trend
Introduction of new packaging is the major trend driving the growth of the grass-fed beef market.The introduction of new packaging for grass-fed beef products can influence the growth of the market during the forecast period. Attractive packaging and designs will garner the attention of the consumers and increase product visibility. Hence, players are introducing new packaging designs for their products.In December 2020, Amcor launched new packaging for fresh and processed meat named Eco-Tite, which is recyclable and shrink-free. In October 2019, CP Foods launched green packaging for meat range to reduce waste, especially plastic waste, and to promote the use of environment-friendly material. In April 2017, a Chicago-based company that specializes in premium grass-fed beef called PRE Brands introduced a new packaging design that offers shoppers a 360 view of PRE products. The new packaging was an easy-open vacuum pack attached to a paperboard backer.
Key Grass-fed Beef Market Challenge
The premium price of grass-fed beef is the major hindrance to the growth of the grass-fed beef market.The premium price of grass-fed beef is one of the primary challenges for the market. Grass-fed beef is estimated to be almost 70% more costly than grain-fed beef. This premium price discourages price-sensitive consumers and can affect the growth of the market during the forecast period.The supply chain of grass-fed beef is different from conventional beef, which can lead to a rise in the cost of production of grass-fed beef. For instance, the processing facilities of conventional beef can handle about 5,000 animals per day, while the processing facilities of grass-fed beef may process only a few animals per day. The supply chain of grass-fed beef is longer and more expensive than conventional beef, which increases the price of the final product. Moreover, most slaughterhouses do not have the right facilities to handle grass-fed beef, which can also drop the revenue of the market during the forecast period.
This grass-fed beef market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Parent Market Analysis
Technavio categorises grass-fed beef market as a part of global packaged foods and meat market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the grass-fed beef market during the forecast period.
Who are the Major Grass-fed Beef Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Conagra Brands Inc.
- Donald Russell Ltd.
- Fanatical Foods Ltd.
- Hormel Foods Corp.
- JBS SA
- Perdue Farms Inc.
- Primal Web Ltd.
- Rain Crow Ranch
- Sysco Corp.
- Verde Farms
This statistical study of the grass-fed beef market encompasses successful business strategies deployed by the key vendors. The grass-fed beef market is fragmented and the vendors are deploying growth strategies such asorganic and inorganic strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The grass-fed beef market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Grass-fed Beef Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the grass-fed beef market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global packaged foods and meat market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Grass-fed Beef Market?
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27% of the market's growth will originate from North America during the forecast period. US, UK, Canada, Germany, and China are the key markets for market in North America. Market growth in this region will be faster than the growth of the market in regions.
Awareness of the higher health benefits of grass-fed beef than conventional beef will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Product Segments in the Grass-fed Beef Market?
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The grass-fed beef market share growth by the fresh grass-fed beef segment will be significant during the forecast period. The high demand for fresh grass-fed beef can be attributed to the perception that fresh grass-fed beef is healthier than processed grass-fed beef. The awareness of the health benefits of grass-fed beef such as higher content of omega-3 fatty acids linoleic acid and antioxidant vitamins like vitamin E propel its demand in the US, Australia, and other markets.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the grass-fed beef market size and actionable market insights on post COVID-19 impact on each segment.
| Grass-fed Beef Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2019 |
| Forecast period | 2020-2024 |
| Growth momentum & CAGR | Accelerate at a CAGR of 14.72% |
| Market growth 2020-2024 | USD 39.95 billion |
| Market structure | Fragmented |
| YoY growth (%) | 13.81 |
| Regional analysis | North America, APAC, Europe, South America, and MEA |
| Performing market contribution | North America at 27% |
| Key consumer countries | US, UK, Canada, Germany, and China |
| Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
| Key companies profiled | Conagra Brands Inc., Donald Russell Ltd., Fanatical Foods Ltd., Hormel Foods Corp., JBS SA, Perdue Farms Inc., Primal Web Ltd., Rain Crow Ranch, Sysco Corp., and Verde Farms |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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What are the Key Data Covered in this Grass-fed Beef Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive grass-fed beef market growth during the next five years
- Precise estimation of the grass-fed beef market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the grass-fed beef industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of grass-fed beef market vendors
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Source: https://www.technavio.com/report/grass-fed-beef-market-industry-analysis
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