A new report suggests the grass-fed beef market is poised to grow by about $14 billion over the next four years on high demand and consumer desire for the product’s purported health benefits.
The report was conducted by Technavio, a London-based technology research and advisory company. The boost in demand is largely due to the health characteristics of the product, the company noted in a release accompanying the report.
“The awareness of the health benefits of grass-fed beef such as higher content of omega-3 fatty acids linoleic acid and antioxidant vitamins like vitamin E fuel its demand in the US, Australia, and other markets. This consequently adds to the revenue, thus boosting the grass-fed beef market growth,” the company said.
According to Technavio, North America accounted for the largest grass-fed market share in 2019 and offers “several growth opportunities” through 2024.
The merits of grass-fed beef, and the health benefits compared to grain-fed beef, remains a hot topic in the U.S. beef industry. While most American beef production is finished on a grain-based diet, much of the production elsewhere in the world is grass-fed.
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