Market share for poultry and meat to remain steady
The latest report on US retail market trends shows that there are no big surprises on the horizon regarding meat and poultry consumption.
Vegetarian and vegan trends, along with the development of new plant-based products are not going to put big problems for US meat and poultry producers in the next three years, says a Packaged Facts report recently released. The total retail sales of meat, poultry, and meat substitutes will be just shy of $100 billion in 2021 forecast the analysts. Due to its higher price point, the meat will dominate dollar sales despite still trailing poultry in per capita consumption volume. Meat substitutes will account for less than $2 billion of the projected total, according to the report quoted by Supermarket News.
"Meat continues to evolve and be reevaluated by consumers in the wake of years of consciousness-raising on several topics, including humane animal treatment, meat processing, and nutrition", explained David Sprinkle, research director for Packaged Facts.
Retail sales of meat will also receive a boost from growth in consumption of pork, which is expected to maintain its low-cost advantage over beef. In addition, many previously overlooked cuts of pork, such as pork shoulder, are experiencing a resurgence in popularity both at retail and in restaurants. Meanwhile, retail sales of poultry are expected to increase over the ensuing five years, supported by poultry's cost advantages relative to many types of meat.
The consumers will be interested in traceability and the best way to prepare a product, according to the report. "Consumers will look to meat professionals to connect them with these products, explain the product benefits and educate on how these products are best prepared and served". Another segment that is expected to grow in the next years is the meat snacks category thanks to the convenience and portability advantages presented by these products.
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