Grass-fed Beef Market to grow at a CAGR of 5.48% during 2024-2028
The Grass-fed Beef Market is expected to grow at a CAGR of 5.48% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3.66 billion. Grass-fed beef market growth can be significantly influenced by the introduction of innovative and attractive packaging solutions during the forecast period. Consumers are increasingly drawn to visually appealing and sustainable packaging designs, which in turn boosts product visibility and sales. Notably, Amcor plc, a leading global packaging company, launched Eco-Tite in December 2020, a recyclable and shrink-free packaging for fresh and processed meat. Furthermore, in July 2023, Amcor unveiled a more sustainable production line for high-performing shrink bags and films for meat and cheese products. Flexibles, another key player, has also invested in a new production line in Swansea, UK, using a thinner, high-barrier PBdc-free formulation to maintain product quality, performance, and optical properties. These strategic packaging initiatives are expected to drive market growth and cater to evolving consumer preferences.
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Technavio analysts predict that the Fresh grass-fed beef subsegment will lead the Product segment during 2024 and 2028 The grass-fed beef market is experiencing significant growth due to the increasing consumer preference for fresh, healthier beef options. This trend is driven by the perception that grass-fed beef, which is raised on pasture and not fed grains or corn, contains higher levels of healthful nutrients such as omega-3 fatty acids, linoleic acid, and antioxidant vitamins like vitamin E. As a result, vendors are capitalizing on this trend by launching new lines of fresh grass-fed beef, such as Niman Ranch's USDA-graded, domestic, culinary-driven, 100% grass-fed, and finished beef programs, which add to the market's revenue and fuel its expansion in the United States, Australia, and other key markets.
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There are several factors that are causing the market to flourish new business strategies by vendors
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Grass-fed beef is gaining popularity in the market due to its numerous health advantages and clean labeling trends. Compared to conventional meat, organic grass-fed beef is raised without the use of growth hormones or antibiotics, making it a healthier choice for consumers. The environmental friendliness of grass-fed beef production is another factor driving its growth. Packaging related advancements have also played a role in the growth of the grass-fed beef market. Consumers are looking for clean meat with clear labeling, and the beef industry has responded with innovative packaging solutions that highlight the product's natural qualities. Grass-fed beef is rich in Omega 3 fatty acids, which are essential for human health. It has a lower saturated fat content compared to conventional beef, making it a better choice for those watching their calorie intake. The tenderness and marbling effect of grass-fed beef are also desirable sensory qualities. However, grass-fed beef can be more susceptible to bacteria like E. coli due to its lack of antibiotic use. Producers are addressing this concern by implementing strict production standards and advanced processing techniques. Grass-fed beef is a bulk food ingredient that fits well into a balanced diet. Its clean label characteristics, health benefits, and sensory qualities make it an attractive option for consumers looking for high-quality, naturally raised meat.
The global grass-fed beef market is a significant segment of the broader packaged foods and meats market, falling under the food products sector of the food, beverage, and tobacco industry, according to Technavio's market research. This market encompasses food processing vendors engaged in extending shelf life and eliminating microorganisms from grass-fed beef products. The market size is determined by the consolidated revenue generated by these vendors, excluding manufacturers of food processing equipment and packaged alcoholic and non-alcoholic beverages, including mineral waters.
The Grass-fed Beef Market is experiencing significant growth, fueled by the new business strategies by vendors. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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