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Elevating awareness among people regarding health complications accompanied by chemically processed meat and broadening the population are factors set to drive the growth of the organic beef meat Industry for the period 2022 to 2027.
IndustryARC, in one of its latest reports, predicted that the organic beef meat market size is estimated to reach $15.8 billion by 2027, growing at a CAGR of 6.1% during the forecast period 2022-2027. The organic beef meat industry outlook is lucrative because of several health hitches associated with regular meat or meat which is processed with the help of antibiotics and other chemicals, and the convenience of opportune food options like processed beef which saves a lot of time in eventful lives of people. The organic beef meat market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the organic beef meat industry are:
1. Danish Crown
2. Tyson Foods Inc
3. Eversfield Organic
4. Perdue Farms
5. Blackwood Valley Beef
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1. The Organic Beef Meat Market based on the Distribution Channel can be further segmented into Direct, Indirect. The Direct channel segment held the largest share in 2021. However, the Indirect channel segment is estimated to be the fastest-growing with a CAGR of 8.6% over the forecast period 2022-2027. This growth is owing to a massive push by governments around the world on building modern infrastructure, facilities such as packaged and processed meat lure busy shoppers, shift toward modern lifestyle ascribing to accruing purchasing power of people.
2. The Organic Beef Meat Market based on Packaging can be further segmented into Trays (Foam trays, Polyethylene terephthalate trays, and Polypropylene trays), pouches, corrugated boxes. The trays segment held the largest share in 2021. The Corrugated boxes segment is estimated to be the fastest-growing with a CAGR of 7.8% over the forecast period 2022-2027.
3. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to several factors. The US is the biggest consumer of beef and, the country alone accounts for 21% of total beef consumption in the world. Moreover, North America and Europe are expected to offer lucrative growth opportunities over the forecast period 2022-2027.
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Market Drivers and Challenges:
1. Accruing consciousness among people is Anticipated to Boost Product Demand: With rapid modernization, people’s awareness concerning health issues is broadening sweepingly which is anticipated to be a driving factor for the organic beef meat market.
2. The growing food and beverages industry is Expected to Boost Product Demand: The food and beverage industry is growing rapidly which is ensuing growth in the organic food industry too. Organic food sales are accruing year after year around the world. According to industry statistic, around 4% of total US food sale is organic. Moreover, India’s Organic food exports touched the $1 billion market for the first time in FY21 from $830 million in 2020 and are anticipated to cross the $2 billion mark by the year 2026. This can be a driving factor in the progress of the organic beef meat market.
3. High cost, Veganism trends, and religious backlash are Anticipated to Hamper Market Growth: Besides the several advantages accompanied by organically prepared foods, there are a few drawbacks also that are anticipated to slow down the progress of the aforementioned market.
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A. Organic Food & Beverages Market
B. Meat Processing Equipment Market
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
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Phone: (+1) 970-236-3677
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Organic Beef Meat Market Size to Hit US$15.8 billion by 2027 | Exhibit a CAGR of 6.1% (2022-2027)