Rising awareness about high-quality food that contributes to good health and provides nutritional value has inclined the population toward healthy diets. Organic beef contains necessary protein that allows health-conscious consumers to follow a healthy diet. In future, rearing cattle on certified organic fodder will become more lucrative than conventional methods. Demand for organic foods has been fueled by consumer concerns regarding food safety, which, in turn, is driving the growth of the global organic beef market, reports Persistence Market Research.
Persistence Market Research, in its new report, offers an impartial analysis of the global organic beef market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the organic beef market based type (fresh meat and processed meat) and distribution channel (business to business and business to consumer), across seven regions.
Millennials are also becoming more concerned about their health, which has resulted in increased expenditure on natural and organic food, as it is perceived to be healthy with cruelty-free. This age group prefers products that offer health benefits and abundant proteins, and the trend is expected to continue over the forecast period, thus surging the organic beef market.
The global organic beef market has witnessed substantial growth in the past few years, and this trend is expected to continue over the coming years too, at a healthy CAGR of around 7% through 2030.
Key Takeaways from Organic Beef Market Study
- By type, processed meat will have the highest value share in the global organic beef market during the forecast period (2020-2030). The key contributing factor is higher consumption of processed meat among consumers through numerous foodservice channels.
- By the end of the forecast period, the global organic beef market is expected to be dominated by the business to consumer sales segment, owing to highly organized retail channels for meat products.
- Ground beef is estimated to witness the highest CAGR among other processed meat sub-segments. This is due to the higher utilization of ground beef in processed food products.
- Among the business to consumer segments, online retailers and independent retailers are expected to exhibit beneficial growth rates in the global organic beef market. Product presence on online sales channels makes it convenient for both, manufacturers as well as consumers to purchase and sell products.
- The COVID-19 pandemic is projected to moderately impact the global organic beef market adversely in the short term.
“Manufacturers in the organic beef market could gain wide profits by targeting health-conscious consumers along with foodservice providers due to anticipated high demand for organic beef products such as steak, patties, and ground beef in hotels and restaurants. Moreover, increasing retail sales of organic beef is another potential growth factor for the market,” says a PMR analyst.
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Source: Persistence Market Research