Target Consumers for Grass Fed Beef
LONDON, Feb. 2, 2021 /PRNewswire/ -- Grass-fed beef market is gaining in prominence majorly due to growing concerns about the environment, health, animal welfare and local agricultural production practices. Rearing of grass-fed beef focusses on all aspects of livestock farming, right from its impact on nature to well-being of humans. The latest report by Fairfield Market Research states that the global grass-fed beef market will be worth US$13, 369.4 Mn by the end of 2025. During the forecast years of 2020 to 2025, the global grass-fed beef market will surge at a CAGR of 4.4%.
The global grass-fed beef market is expected to flourish as rearing beef on grass has enriches the meat with nutrients such as B vitamins and Omega-3s, as compared to grains, providing steaks that are healthier, leaner and better flavoured.
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Higher Nutritional Value Promises Excellent Growth Rate
Demand for lean & mean meat as compared to the conventional one is driving the grass-fed market. Grass-fed beef has gained momentum as it is best known to be high in nutrients such as antioxidants, vitamins and helpful fat called conjugated linoleic acid. Report states that grass-fed beef has 10x more Vitamin A and 80% less in fat as compared to regular beef. It is a preferred alternative, as conventional beef is loaded with antibiotics via feed additives, which are harmful for human consumption.
Nutritional benefits apart, the market in a way is driven by the outbreak of animal diseases. Grass-fed beef comes with clean labels, which as vetted out by government agencies and undergo massive scrutiny. This has supported consumer preference for healthy and clean labels to ensure steady intake of protein.
Environmental Concerns Create Demand for Ethically Raised Meat
Beef producers highly depend on corn for feed. Report suggests that corn production is nitrogen-intensive, a factor that has been polluting waterways for several years. Not just beef but corn has been an integral part of farming activities in the western world, making beef reared on corn feed questionable.
As this issue creates a great chasm between meat consumers and manufacturers, the latter are turning to rotational grazing systems. Today, eating meat is also associated with responsible consumption. Thus, intensifying environmental concerns and clear solutions offered by grass-fed beef manufacturers is expected to buoy the market growth in coming years.
North America to Dominate as Region Demands Antibiotic-free Meat
North America is expected to dominate the global market as this region held a huge market share in 2019. Strong presence of key players and dominance of beef in staple diets is expected to drive this regional market.
Between the years of 2020 and 2025, the North America grass-fed beef market is expected to witness a CAGR of 5.0%. Introduction of new products, clean labels, addition of grass-fed beef across restaurant menus and growing number of conscious eaters are expected to drive this regional market. The region also has a high demand for antibiotic-free meat, as concerns pertaining to the conventional meat continues.
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Key Players Enter Long-term Contracts with Farmers to Ensure Steady Supply
The global grass-fed beef market is highly fragmented owing to presence of numerous farmers who own grazing lands and cattle. Big players such as Conagra Brands, Inc., and Australian Agricultural Company Ltd. are making long-term contracts with farmers to ensure steady supply of meat with unchanged quality of meat.
Major players will likely invest in research and development activities to expand their product portfolio along with widening their market share. Players are also focusing on launching premium products, such as frozen meat and ready-to-cook products, to improve their footing in the market.
The key players operating in the global grass-fed beef market are 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).
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SOURCE Fairfield Market Research
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