Increasing preference among consumers for organic food and improving availability of organic beef meat through retail chains is impelling the demand
DUBAI / ACCESSWIRE / April 13, 2020 / The global organic beef meat market is set to proliferate at a steady 6.7% CAGR during the forecast period (2019-2027), as projected by a new report of Future Market Insights (FMI). The growth is primarily fueled by increasing awareness among consumers regarding the potential negative effects of the antibiotics and chemical additives used in the manufacturing of processed beef meat.
Organic Beef Meat Market: Key Findings
- The global value of the organic beef meat market is projected to be valued 1.6X the current value by the end of the forecast period.
- North America will remain the leading regional market for organic beef meat owing to high consumption and awareness.
- Owing to higher consumption, USA and Canada will account for 2/5th of overall market value
- The growing trend of organic beef consumption in Eastern Europe will bestow lucrative opportunities for market players.
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Organic Beef Meat Market: Key Driving Factors
- The trend of large retail chains such as Whole Foods pushing the organic agricultural produce across their stores in Europe will increase the availability and give a boost the organic beef meat.
- Inclination towards organic beef meat as a result of growing awareness among consumers concerning the side effects of processed meat, is propelling the growth.
Organic Beef Meat Market: Key Restraint
- High price point of organic beef is likely to hinder the sales, thus limiting rapid growth of the market.
Impact of COVID 19 on Organic Beef Market
The outbreak of COVID-19 has led to a significant impact on various internal and internal factors across industries which includes purchasing, selling, exports, value-added services among other key components for businesses. The organic beef industry is one such market that is currently facing a negative impact due to the pandemic. The industry is being indirectly affected on the back of retail stores being closed down and disruption of the supply chain, which is limiting the overall sales. Furthermore, the market is being affected due to distancing practices coupled with hindered import and export of organic beef.
However, the demand for organic beef has been stronger and the economic downturn is hampering the strong grocery sales. On a positive note, despite the decline in sales, the organic beef market is likely to regain the lost ground in the remaining quarters of the year.
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Competition Landscape of Organic Beef Market
Some of the key players in the global organic beef landscape that are covered in this study include, but are not limited to, Neat Meat company, organic Prairie, Aurelian organic meat supplier group, Swillington Organic Farm Arcadian Organic Meat Co., River ford organic farmers and Eversfield, among others. The market players are focusing on building a strong brand image to gain a competitive edge.
More About the Report
This Future Market Insights study of 200 pages offers actionable insights on the organic beef market. The market analysis is based on product type (Fresh Meat and Processed Meat), flavor (ground beef, steak beef, chucks, and patty), distribution channel (direct sales, indirect sales, modern trade, convenience stores, online retailers, and independent retailers) across seven major regions (North America, Western Europe, Eastern Europe, Latin America, APEJ, Japan, and Middle East & Africa)
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SOURCE: Future Market Insights