Greater consumer predilection towards natural and organic meat products as opposed to conventional variants will bode well for market.
ROCKVILLE, MD / ACCESSWIRE / May 19, 2020 / Consumer's growing inclination towards natural, grassfed meat over traditional, grainfed meat has been the key driver for global grassfed meat market. The rich nutrition profile and low-fat content of grassfed meat is recently attracting an expanding population of health-conscious meat consumers. Increasing knowledge about the production process and nutritional facts about grassfed meat is responsible for readiness of a sizeable consumer population to pay a premium for it, which remains a significant booster to market growth.
Both emerging and developed economies will offer lucrative whitespaces for manufacturers of grassfed meat during the forecast period (2020-2030), as suggested by a new Fact.MR study. The thriving food processing sector in developed countries will provide an impetus to grassfed meat market in long term. The report however projects global grassfed meat market to witness a brief downturn in 2020, by approximately 1.5% through the COVID-19 pandemic.
"Established players must focus their efforts on new product launches and collaborations with supermarkets to strengthen their market positioning," finds Fact.MR.
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Key Takeaways of Grassfed Meat Market Study
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Direct sales channel will remain predominant through 2030 on account of soaring demand from HoReCa and food processing industries.
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Lamb and goat consumption will remain prevalent in grassfed meat market over the forecast period.
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Latin America generates 2/5th of total demand for grassfed meat owing to widespread consumption.
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North America and Asia Pacific grassfed market will grow steadily during the projection period in view of rising awareness.
Grassfed Meat Market - Key Drivers
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Huge uproar over wildlife consumption amid COVID-19 outbreak will boost the demand for grassfed meat in China.
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Proliferation of food processing companies in the United States will stoke the growth of grassfed meat market.
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Sale of grassfed meat via online channels is gaining traction, especially during the pandemic thereby contributing substantially to market growth.
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Large-scale production of grassfed meat by countries in Oceania will fuel the market growth during the forecast period.
Grassfed Meat Market - Key Impediments
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Relatively high price point of grassfed meat continues to limit the wider consumption through 2030.
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Environmental impact associated with cattle grazing remains a longstanding constraint limiting the demand for grassfed meat.
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The risks associated with switching to new production and marketing systems continues to create reluctance among conventional meat producers.
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Supply chain challenges brought about by the COVID-19 pandemic would impede market growth throughout 2020.
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Anticipated Impact of COVID-19 on Grassfed Meat Market
Demand for grassfed meat has dropped sharply during the first and second quarter of 2020 due to ongoing COVID-19 pandemic. The market has largely suffered in Asia Pacific which accounts for prolific consumption of grassfed meat. Supply chain is the worst affected aspect of global grassfed meat market. Moreover, suspended livestock trading in many European countries remains a major problematic factor. Therefore, top companies are deploying technologies such as blockchain to mitigate the impact of COVID-19. Integration of technology will play a vital role in making the supply chain cost-competitive and robust. For instance, JBS USA traces every stage of their supply chain through QR codes, RFID, and blockchain.
Competition Landscape
The competitive landscape of grassfed meat market is fragmented in nature with the presence of numerous regional and international players. Some of the leading manufacturers in the global grassfed meat market that are featured in this Fact.MR report include, but are not limited to, VERDE Farms, Thomas Food International, Perdue Premium Meat Co., A Cargill Teys Australia Joint Venture, Vion NV, Sysco Corporation, The Mayer Natural Foods, Omaha Steaks, JBS, Hormel Foods Corporation, Creekstone, Australian Agriculture Company, and Conagra Brands. Supply chain disruptions caused by COVID-19 have to be minimized by key players through industry-wide collaborations. For instance, WH Group and JBS reached a joint distribution agreement in January 2020.
About the Report
This 170-page study offers in-depth commentary on the grassfed meat market. The study provides compelling insights on the grassfed meat market on the basis of product type (raw meat, processed meat), nature (grassfed, grass finished), animal type (cow and bison, lamb and goat), sales channel (direct sales, retail sales), and end user (HoReCa, food processing, household consumption) across six key regions (North America, Latin America, Europe, Asia, Oceania, and Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the Food & Beverages sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest food market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Fact.MR