Growing consumer awareness of the health benefits of eating a well-balanced diet, as well as increased sales of bulk food items via online retail channels, are predicted to propel the grass-fed beef market forward. In 2021, the grass-fed beef market is anticipated to be worth $11.6 billion. According to Future Market Insights (FMI), the whole market value is expected to reach US$ 17.9 billion by 2031, with a 4.4 percent compound annual growth rate (CAGR) between 2021 and 2031.
In light of this, FMI expects grass-fed beef sales to grow at a 3.7 percent compound annual growth rate (CAGR) through 2031 in terms of volume. Beef is regarded as one of the most important food sources in North America and Europe. Buyers in these areas are aware of organic certifications and labeling, as well as the benefits of organic foods over conventional foods. As a result, demand for grass-fed beef in North America and Europe is likely to rise over the forecast period.
Consumers around the world are shifting their preferences toward quick-to-prepare, healthy cuisine. As a result, sales of processed meat products have increased. Grass-fed beef has superior quality and nutritional benefits to grain-fed beef, which is why it is becoming more popular in the foodservice industry.
Key Takeaways:
Over the projection period, demand for processed grass-fed beef is expected to continue strong. Frozen grass-fed beef sales are expected to increase steadily, as it does not lose moisture and is safe to eat once opened. As online purchasing grows more common, grass-fed beef sales through indirect channels are likely to grow. The foodservice sector is expected to account for the majority of grass-fed beef applications.
Competitive Landscape
JBS Foods®, Tyson Foods, Australian Agricultural Company Limited, Hormel Foods Corporation, Cargill, Inc., ANZCO Foods, Conagra Brands, Inc., Creekstone Farms Premium Beef, LLC, Sysco Corporation, and others are among the top providers of grass-fed beef. To grow their distribution channels and production facilities, key companies in the global grass-fed beef industry are focusing on mergers and acquisitions with other small and mid-level brands. To acquire a competitive advantage in the industry, players are also launching new and inventive items. Verde Farms and Pre Brands, for example, are focusing on labeling new items to meet client demand. To boost sales, top players like Creekstone are cooperating with supermarkets, stores, and online retailers.
