London, UK, March 15, 2021 – The global grass-fed beef market has gained momentum as the world witnesses a drastic shift in eating habits. A strong change in conscience, characterized by the consumption of food and beverages with clean labels has aided the grass-fed beef market at a global level. According to Fairfield Market Research, the global grass-fed beef market is expected to be worth US$13,369.4 Mn by 2025. Between the forecast years of 2021 and 2025, the market is expected to register a CAGR of 4.4%.
Key Highlights For Global Grass-Fed Beef Market:
- North America grass-fed beef market to hold a lion’s share of 47.5% by 2025 as consumers shift from antibiotic-free meat products
- Organic grass-fed beef segment is expected to generate an incremental dollar opportunity of US$747.2 Mn by 2025
- Processed grass-fed beef segment to attain CAGR of 3.7% in term of volume as demand for processed food soars
- Companies such as JBS, Australian Agricultural Company Limited, and Hormel Foods Corporation to dominate the competitive landscape
- Partnership with the domestic farmers to ensure authorized grass-fed certifications through regulatory bodies to remain a key strategy for players.
Awareness about Side Effects of Antibiotic-fed Beef Products Shifts focus to Grass-fed Beef
Grass-fed beef market has been gaining popularity as awareness about livestock raised on antibiotics continues to grow. Ill effects of excessive use of antibiotics on cattle and human health have raised concerns about dietary choices. High cholesterol, poor heart health, and high blood pressure have been commonly seen side-effects of consuming inorganic meat products. In light of these reasons, a growing number of consumers are expected to make a conscious shift to grass-fed beef, which is a healthier option.
In an effort to offer healthier food options, a growing number of restaurants are adding grass-fed beef steaks and other preparations to their menus. Changing menus indicating the inclusion of grass-fed beef have significantly contributed to the revenue of the global market. The market is also expected to gain popularity with the growing conversation about grass-fed beef products across the social media platform.
North America to Retain Dominance as Beef Remains Integral Part of Staple Diet
Geographically, North America is expected to lead the global grass-fed beef market. As of 2020, North America and Latin America together held a share of about 70% in the global market. Environmental concerns about livestock reared on supplements, antibiotics, and chemical-based animal feed additives are also expected bode well for these regional markets.
The North America grass-fed beef market also stands to benefit has beef is an integral part of the regular diet of these regional consumers. Heavy reliance on meat as a staple is expected to fuel the demand for grass-fed beef in the region.
Fairfield Market Research also finds that countries such as Japan, Australia, and China will see a high consumption of grass-fed beef.
Time-consuming Rearing Process to Restrain Market Growth
The global grass-fed beef market is likely to be restrained by the time-consuming process of rearing cattle. It takes two years to raise full-grown beef, which demands resources in terms of time and effort. Furthermore, an unorganized supply chain poses a key challenge to the distribution of grass-fed beef. All of these factors collectively are expected to retard market expansion.
Key Players Focus on Innovative Packaging and Long-term Contracts to Remain Competitive
In the coming years, the key players are expected to focus on packaging to remain competitive. Improving product visibility with unique product design, offering adequate information, and printing QR codes to make payments easier will emerge as strategies to grip the attention of the end user.
In addition to the marketing aspect, players are also entering into long-term contracts with farmers who rear livestock to ensure a consistent supply of superior quality meat. In the next five years, players are expected to invest in processes to increase meat production to meet the ever-increasing demand.
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