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NEWARK, Del: , Sept. 21, 2022 (GLOBE NEWSWIRE) — As per the report published by FMI, the global organic lamb market is projected to have a moderate-paced CAGR of 5.5% during the forecast period. The current valuation of the market is US$ 3.71 Billion in 2022. The market value of organic lamb is anticipated to reach a high of US$ 6.34 Billion by the year 2032. A historical CAGR of 2.7% has been recorded during 2021.
It is identified by the experts at FMI that health complications accompanied by non-organic meat are likely to boost the market growth for organic lamb. The meat derived from animals that are fed with various antibiotics and growth hormones carries many health complications with it. Antibiotic leads to bacterial food contaminations which according to a report claim the lives of more than 50,000 people in the US and European Union. Therefore, health cognizance among people is rising and they are making more demand for organic options.
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It is anticipated FMI that demand from young people and developing nations, which is surpassing supply, is predicted to drive a significant CAGR increase in the organic lamb market.
FMI has analyzed that besides preventing food contaminations, organic meat extends several benefits in cancer prevention as it is a rich source of important vitamins and antioxidants. Also, organic options have their fair share in plummeting environmental pollution, especially air.
Additionally, as countries have opened their borders in this era of globalization, the interdependency of nations has risen upon each other. As a result, people in today’s world have much more means of earning a living and leading happy life. However, several factors are most likely to limit the growth of the organic lamb market during the forecast period. Lab-grown meat, pressure from animal welfare organizations, high prices, hampered rearing and strict government regulations are projected to curb the growth in the upcoming years.
Key Takeaways from Market Study
- Sales of organic lamb products in the US surpassed $2 billion in 2022. As a result of health-conscious consumers, the market for organic and natural lamb foods is expanding.
- As of 2011, there were 2.3 million acres of pasture and grassland that met organic criteria in the United States, and there were 3.1 million acres of farmland.
- Australia and New Zealand will likely be bitter rivals. Despite this, the market is likely to continue being modest.
- The biggest market for lamb and organic lamb in New Zealand right now is China.
- Europe accounted for 40% of the total organic lamb market share during the base year.
- By the end of 2032, it is expected that the processed lamb market would have grown by 66 BPS, the volume will exceed 45,000 MT, and value will be close to US$ 200 million.
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“The rising trend of consuming premium organic food products, coupled with mild taste and chewable nature of organic lamb is unraveling new opportunities for the market players prevailing in the organic lamb market.” says a Future Market Insights analyst.
Recent Developments
- On May 28, 2020, Australia-based recognized meat processing company “Thomas Food International” announced that the company has acquired 50% of ownership interest in Victoria, Australia-based company “Frew International”, a company that deals in sheep meat. The financials of the transaction were kept undisclosed. Moreover, the companies have publicized that they will continue to operate autonomously.
- On October 15, 2019, Colorado, United States-based food company “Pilgrim’s Pride Corporation” announced that it has successfully acquired the United Kingdom-based meat company “Tulip Ltd.” Pilgrim has made a payment of $354 (all in cash) in order to bring the acquisition to a close. The transaction has reinforced Pilgrim’s UK-specific portfolio.
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Competitive Landscape
Several significant participants in the production of organic lamb are focusing on business growth and broadening their geographic reach in order to strengthen their positions in the organic lamb sector globally. Increasing production capacity and improving quality are two more strategies employed by large companies to get a competitive edge in the organic lamb industry.
Thomas Food International, Arcadian Organic & Natural Meat, Mallow Farm & Cottage, Colin & Sally’s Organic Lamb & Beef, Elliott Agriculture, Tulip Ltd, and Good Earth Farms are some of the key players in the market.
Key Segments in the Organic Lamb Market
By Product Type, Organic Lamb Market is segmented as:
By Sales, Organic Lamb Market is segmented as:
- Direct Sales
- Indirect Sales
By End Use, Organic Lamb Market is segmented as:
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
3.5. Value Chain Analysis
3.6. Global Organic Lamb Market – Pricing Analysis
3.7. Forecast Factors – Relevance & Impact
3.8. Regulatory Landscape
About the Food & Beverage at Future Market Insights
The Food & Beverage team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Processed Meat Market Size: is projected to grow at a CAGR of 6.3% between 2022 and 2032, totaling around 605.14 Billion by 2032.
Meat Alternatives Market Analysis: is projected to grow at a CAGR of 33.6% between 2022 and 2032, totaling around US$ 235 Billion by 2032.
Organic Meat Market Trends: produced by feeding livestock on 100% organic food. ‘Organic meat’ is obtained from animals or birds raised in an organic system, this organic systems are based on the behavioral and physiological needs of animals.
Organic Beef Meat Market Share: Growing consumer awareness and preference for natural and organic foods owing to associated health benefits have fuelled the shift to organic food in day-to-day edibles in consumers, especially in Eastern Europe.
Plant-Based Beef Market Outlook: shows that according to Future Market Insights the plant-based beef market is estimated to be valued at USD 2.08 billion in 2022 and is projected to reach USD 16.1 billion by 2032, recording a CAGR of 22.7%, in terms of value.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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