Research analysis on the global steaks market identifies new product launches as one of the major factors that will have a positive impact on the market's growth. Technavio's market research analysts predict that this market will grow at a CAGR of nearly 4% by 2021. Harvey Beef recently introduced its new range of steak cuts and marinated products in the Australian market. These products are distributed through Coles stores and the company claims that the product contains 100% West Australian Beef. Players are increasingly investing in product innovation and new product development and this is expected to increase during the forecast period. Since new product launches will assist players in increasing their revenues and also in setting up a stronger market position, more market players will increasingly focus on new launching new products.
In terms of the geographic regions, the Americas will be the major revenue contributor to the steaks market throughout the forecast period. The rising consumer demand for protein-rich foods and the focus of the market players to launch of new products, will be major factors driving the market's growth prospects in this region.
Competitive landscape and key vendors
The steaks market consists of many global and regional players who compete mainly on factors such as new product launches, product innovation, and marketing strategies. New players are entering various regional markets. This will further intensify the level of competition among the market players and the vendors are focusing on investing heavily in R&D to develop new products.
The leading vendors in the market are ?
The other prominent vendors in the market are Bridgford Foods, Certified Angus Beef, Dawn Meats, THANASI FOODS, Golden Valley Natural, Greater Omaha Packing, Kepak Group, Monogram Food Solutions, and Strauss Brands.
Segmentation by product and analysis of the steaks market
During 2016, the beef segment accounted for the major shares of the steaks market. The increasing awareness among consumers about the advantages of protein-rich diets that is resulting in the increased production of beef, will be a major factor contributing to the growth of this industry segment in the coming years.
Segmentation by distribution channel and analysis of the steaks market
According to this market research report, the on-trade distribution channel accounted for the maximum share of the steaks market during 2016. The on-trade channel comprises of hotels, restaurants, and steakhouses where the consumer demand for steaks is high. There are several new players who enter the market by opening steakhouses that offer various innovative offerings and the existing players are also focusing on expanding their presence by opening new outlets acorss various locations.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global steaks market?
What are the key market trends impacting the growth of the global steaks market?
What are the challenges to market growth?
Who are the key vendors in the global steaks market?
What are the market opportunities and threats faced by the vendors in the global steaks market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global steaks market?
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Steaks are one of the most popular meat recipes and loved by consumers across the world. This upcoming market research report on the global steaks market is an important part of Technavio's food and beverage portfolio offering key insights into the food sector. The upcoming report gathers extensive data and insights on market size, key drivers, growth rate, and emerging regions to provide valuable decision inputs to the client.
Research analyst at Technavio gathers immense data and information using primary and secondary research, and process those using statistical models to present an accurate analysis of the market landscape. Research analyst at Technavio uses case studies, empirical study, literature review, and secondary analysis as some of the research tools to provide an accurate forecast for the four year forecast period. The clients benefit with a vast amount of information available to make sensible marketing decisions.
The report also analyzes the market and its growth potential geographic segments such as the Americas, EMEA, and APAC, which helps the client in devising effective marketing strategies. Our analysts have suggested that the market might see growth due to longer shelf life and easier transportation of steaks made possible by packaging innovations in this market. This upcoming market research report on the global steaks market also covers both major and niche vendors like Tyson Foods, Conagra Brands, Hormel Foods, Jack link's, King Elite snacks, and The Meat Snacks Group.
The upcoming market research report for the global steaks market also highlights the key drivers, competitive intelligence, consumer behavior, clients and businesses, as well as the restraints that the food sector currently experiences. It also presents in-depth insights into the dynamic competitive scenario to provide the clients with a precise picture of the future events and happenings within the food and beverages industry. Technavio also provides deep-dive market assessments into the sectors such as non-alcoholic beverage and food service.
Our market research methodology for the global steaks market
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