Our in-depth analysis of the organic meat market includes the following segments:
By Distribution Channel
By Mode of Distribution
On the basis of regional analysis, the organic meat market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for organic meat in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market organic meat. Moreover, rising consumer preference for chemical free high quality, healthy and nutritional meat from health conscious people further increases the product demand. The market in Asia Pacific is predicted to grow at the highest rate during the forecast period as a result of growing awareness among people about multiple nutritional benefits of organic meat. Additionally, several meat producing companies are keen on expanding their business, especially in countries such as China and India on account of immense growth opportunities which further raise the demand for organic meat.
The organic meat market is further classified on the basis of region as follows:
Increasing concerns about meat quality and rising health consciousness as well as presence of perceived nutritional values in organic meat products are some of the significant factors boosting the market growth. The organic meat market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by distribution channel into supermarket, retail stores, speciality stores and organic stores. Among these segments, the segment for supermarket is anticipated to hold the leading share in the market on account of high efficiency in managing supply chain and distribution of products in supermarkets and hypermarkets. CLICK TO DOWNLOAD SAMPLE REPORT
Increasing Concerns Towards Degrading Quality of Synthetic Products to Boost the Market Growth
There has been a growing concern over food authenticity and detection of adulteration in various food segments on account of fraudulent substitution and mislabelling of meat products. This has resulted an extensive growth in the requirement for numerous organic products which has led to a rise in demand for organic meat. Moreover, the large-scale use of antibiotics, synthetic fertilizers and pesticides, and chemical additives during the manufacturing of processed meat have adverse effect on human health. According to the U.S. Department of Agriculture (USDA), strains of pathogens on raw beef trim are an emerging threat to foodborne illness diseases and human health. Additionally, the growth regulators given to animals contains carcinogenic substances which can increase the risk of cancer and liver damage in human body. This is anticipated to significantly expand the market.
Presence of Several Health Beneficial Properties to Drive the Market Growth
Studies have shown that organic meat contains up to 50 percent more omega-3 fatty acids and lower concentrations of saturated fats when compared to conventionally produced meat. Owing to presence of amino acids and nutritional values, consumption of organic meat boosts the immune system, decreased the risk of heart disease and improves eye health. This factor is fuelling the growth of organic meat market. Further, on account of increasing number of health conscious people, the market for organic meat and other organic foods is expanding rapidly with an array of innovative product options. On the back of these factors, the global organic meat market is predicted to grow significantly over the forecast period.
Lack of Awareness Towards Genuine Products to Hamper the Market Growth
Despite the health benefits of organic meat, there is lack of information associated with organic labelling and authenticity in production of organic meat as per the recommended organic methods. Further, the trendy concept of veganism is shifting many consumers towards vegan diet which may negatively affect the market growth. This is estimated to hinder the growth of organic meat market in the future.
June 2018: Tyson Foods, Inc. acquires Tecumseh Poultry LLC which is one of the leading brands of organic chicken i.e. air-chilled Smart Chicken®, to expand its product diversification.
May 2019: The Organic Trade Association (OTA) released a report on organic industry survey stating that in United States, in 2018, organic market broke through the $50 billion mark for the first time, with sales hitting a record $52.5 billion, up 6.3 percent from the previous year.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.