The grass-fed beef market is estimated to capture a valuation of US$ 12.4 billion in 2023 and is projected to reach US$ 20.4 billion by 2033. The market is estimated to secure a CAGR of 5% from 2023 to 2033.
The grass fed beef market is estimated to capture a valuation of US$ 12.4 billion in 2023 and is projected to reach US$ 20.4 billion by 2033.
Over the last few years, barbequing meat has emerged as a popular trend worldwide, especially across western countries. According to the Quick-Service and Fast Casual Restaurant (QSR) magazine, nearly 95% of the population in the U.S. enjoy barbequed (BBQ) dishes such as steak, ribs, and others.
Beef being the most preferred meat for BBQ owing to its meaty flavor, sales of grass fed beef are anticipated to rise at 3.7% CAGR in terms of volume through 2031.
As the trend to consume higher quality foods increases, consumers are increasingly choosing products with quality assurance certifications and labels. Grass-fed beef is considered healthier and more nutritious than conventional beef products and is rich in vitamins B6, B3, selenium, carnosine, creatine and zinc, making it a popular choice among meat lovers. Popular.
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According to FMI, the foodservice sector is expected to be the most profitable end-use sector in the global market. Increased demand for sauces, frostings, marinades, baked goods and other products with premium meats in hotels and restaurants is driving the growth of this segment.
“Key players are emphasizing on obtaining food quality certificates such as Kosher, Halal, and Beef Quality Assurance (BQA) to capitalize on the rising demand for premium quality food products. This is expected to bode well for the market growth,” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)
Key Takeaways from the Grass Fed Beef Market Study
Key Drivers
Key Restraints
Competitive Landscape
Top players in the global market include JBS Foods, Tyson Foods, Australian Agricultural Company Limited, Hormel Foods Corporation, Cargill, Inc., and Conagra Brands, Inc, as per FMI.
These companies are projected to account for nearly 30% to 50% of global revenue share through 2031.
Leading players are emphasizing on promoting sales of grass fed beef by providing information about the safety and health benefit of the product. Besides this, some of the manufacturers are actively participating in collaborations, mergers, acquisitions, and agreements with regional players to expand their production capacity and facilities.
For instance:
Some of the key players operating in the market profiled by FMI are:
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More Valuable Insights on Grass Fed Beef Market
FMI, in its new report, provides a detailed analysis of the global grass fed beef market, forecasting statistics through 2021 and beyond. The survey reveals growth prospects on in grass fed beef market along with detailed segmentation:
By Form:
By Format:
By End-Use:
By Distribution Channel:
Key Questions Covered in the Report
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 07, 2024