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 USD 3.71 Billion in 2022. The market value of organic lamb is anticipated to reach a high of USD 6.34 Billion by the year 2032. A historical CAGR of 2.7% has been recorded during 2021.
There has been a remarkable increase in the consumption of organic lamb due to their richness in vitamins, minerals, and proteins, making them highly nutritious. This trend is driven by rapid changes in consumer lifestyles and the growing working population, which increasingly favors convenient food products.
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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.
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.
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.
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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Key Segments in the Organic Lamb Market
By Product Type, Organic Lamb Market is Segmented as:
- Raw Lamb
- Processed Lamb
By Sales, Organic Lamb Market is Segmented as:
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Stores
- E-Retailers
- Specialty Stores
- Others
By End Use, Organic Lamb Market is Segmented as:
- Household
- Food Industry
- Soups
- Frozen Snacks
- Ready Meals
- Others (Bakery, Mea)
By Region, Organic Lamb Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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