Global Steaks Market 2017-2021

Overview of the global steaks market

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