Organic Beef Market to Expand with a CAGR of X.X% by 2024 Owing to Increasing Health Concerns
According to a recent report published by Fast.MR, titled, Organic Beef Market 2018: Market Size, Market Volume, Trends, Opportunity, Forecast 2014-2024, “the global organic beef market accounted for USD XX Million in 2018 and is estimated to reach USD XX Million by 2024. Moreover, it is anticipated to flourish at a CAGR of 7.8% during the forecast period i.e. 2019-2024.
The global organic beef market has been segmented based on the type, and by distribution channel. Based on the product type, this market has been segmented into fresh meat and processed meat. The processed meat segment is the largest market segment. Availability of a wide range of ready to prepare processed meat products in the market is one of the major factors behind the growth of processed organic meat market.
Based on the distribution channel, the market is further sub-segmented into direct sales and indirect sales segments. Among these segment, indirect sales segment accounted for a higher percentage of market share in the global organic beef market in 2018. A rising number of companies offering organic beef products is anticipated to increase the market share of the indirect sales channel.
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Rising Concerns Regarding Health
In various developed nations, consumers are opting for organic beef as compared to traditional beef products. This can be attributed to growing awareness and raising concerns among consumers regarding health. Since organic cows are fed on organic grass, thus they lack additives or antibiotics in their meat. Further, growing acceptance of organic beef among meat eaters is anticipated to drive the growth of the global organic beef market.
Increasing Number of Organic Farmers
Growth in the number of organic farmers is positively impacting the growth of the global organic beef market. In addition to this, continuous rise in ranches farmland area in various nations signals promising growth of the organic beef market. Various small organic beef producers are entering into the market which further is envisioned to strengthen the growth of the global organic beef market.
In terms of geography, the organic beef market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounted for the major share of the global organic beef market. Rising awareness and growing preference for organic foods is anticipated to positively impact the growth of Europe organic beef market. Further, Asia Pacific organic beef market is about to register a strong growth rate in the coming years.
The report also covers detailed competitive analysis of major market players of the global organic beef market, such as Wegmans Food Markets, Perdue Farms, Australian Organic Meats, Eversfield Organic Ltd, Danish Crown, Meyer Natural Foods, Blackwood Valley Beef, OBE Organic, Alderspring Ranch and other key & niche players. The organic beef market is witnessing a wide range of industry activities such as product launch, acquisition, mergers, and expansion across the globe.
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