May 2, 2017
Despite challenges from plant-protein alternatives, meat and poultry products will keep the US animal-protein industry growing, according to market research firm Packaged Facts.
In its new report "Meat & Poultry: US Retail Market Trends & Opportunities", Packaged Facts forecasts that total retail sales of meat, poultry and meat substitutes will be just shy of $100 billion by 2021. Due to its higher price point, meat will dominate dollar sales despite still trailing poultry in per-capita consumption volume, it said.
Yet despite meat's popularity and projected growth, this is not an industry without its fair share of scrutiny, David Sprinkle, research director for Packaged Facts, said.
"Meat continues to evolve and be re-evaluated by consumers in the wake of years of consciousness-raising on several topics including humane animal treatment, meat processing, and nutrition," he said.
Thus, Packaged Facts predicts that in the years ahead consumers will be mindful of their meat consumption, whether for economic, caloric, dietary or ecological reasons. "For those who seek out sustainable meat and poultry, specialty products like grass-fed or local beef, heritage poultry and even wild boar will be on point. 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".
Retail sales of meat will receive a boost from growth in consumption of pork, which is expected to maintain its low-cost advantage over beef, the report said, adding that many previously overlooked cuts of pork (such as pork shoulder) are experiencing a resurgence in popularity, both at retail and in restaurants.
Also, 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. A further advantage for chicken, it said, is that health authorities such as the American Heart Association continue to encourage consumption of poultry and seafood as alternatives to red meat.
