Table of Contents
Executive Summary
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- Top takeaways
- Market overview
- Impact of COVID-19 on red meat
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on red meat, May 2021
- Challenges and opportunities
- Younger consumers trending away from beef and pork
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- Figure 2: Red meat types consumed, by age, January 2021
- Health concerns drive down consumption
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- Figure 3: Reasons for decreasing red meat consumption, by age, January 2021
- Reimagining the red meat case as a menu of meal ideas
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- Figure 4: Attitudes toward red meat – Ideas and education, by age, January 2021
The Market – Key Takeaways
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- Pandemic, rising prices drive strong growth
- Beef dominates category
- Red meat, especially beef, wins over other proteins in fun, not function
- A more inspiring meat case
Market Size and Forecast
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- Pandemic, rising prices drive strong growth
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- Figure 5: Total US sales and fan chart forecast of packaged red meat, at current prices, 2015-25
- Figure 6: Total US sales and forecast packaged red meat, at current prices, 2015-25
Segment Performance
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- Beef dominates category
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- Figure 7: Sales of packaged red meat, by segment, 2015-20
Market Factors
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- Food spending shifts to retail from foodservice during pandemic
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- Figure 8: Sales of food at home and away from home, November 2019-March 2021
- Rising prices contribute to red meat sales increase in 2020
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- Figure 9: Changes in consumer food price indexes – Meats, poultry and fish, 2018-21
- Home cooking could stay elevated after the pandemic
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- Figure 10: Pandemic-driven changes in behavior, October 2020
- Aging population could slow category growth
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- Figure 11: US population, by age, 2016-26
- Red meat, especially beef, wins over other proteins in fun, not function
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- Figure 12: Protein associations, correspondence analysis, October 2020
- Figure 13: Protein associations, October 2020
Market Opportunities
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- A more inspiring meat case
- Reaching younger red meat eaters with value-added products
- Growing need to address sustainability and animal welfare
Companies and Brands – Key Takeaways
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- Private label dominates, but smaller competitors gain share
- Smaller premium brands differentiate on animal welfare
Market Share
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- Private label dominates, but smaller competitors gain share
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- Figure 14: Multi-outlet sales of packaged red meat, by leading companies, rolling 52 weeks 2020 and 2021
Competitive Strategies
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- Animal welfare increasingly an expectation for premium brands
- Sustainable farming practices poised to gain ground
- New Walmart private label steak line places focus on sourcing transparency
- Value-added red meat products gain momentum
- Free-from claims on the rise
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- Figure 15: Incidence of packaging claims on red meat product launches, 2015-21
The Consumer – Key Takeaways
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- Despite concerns, red meat consumption remains nearly universal
- Most consumers report little change in red meat consumption
- Mix of everyday and special occasions drives red meat usage
- Young purchasers’ attribute priorities reflect a conflicted view of red meat
- Value-added products more likely to appeal to younger shoppers
- Reimagining the red meat case as a menu of meal ideas
Red Meat Types Consumed
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- Despite concerns, red meat consumption remains nearly universal
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- Figure 16: Red meat types consumed, January 2021
- Younger consumers trending away from beef and pork
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- Figure 17: Red meat types consumed, by age, January 2021
- Beef and pork trail chicken in consumption frequency
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- Figure 18: Protein consumption frequency, October 2020
- Opportunity to introduce shoppers to more types and forms of red meat
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- Figure 19: Beef cuts consumed, January 2021
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- Figure 20: Pork cuts consumed, January 2021
Changes in Red Meat Consumption
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- Most consumers report little change in red meat consumption
- Men and younger adults more likely to report an increase
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- Figure 21: Changes in red meat consumption, by age and gender, January 2021
- Nutrition and culinary interest drive increased consumption
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- Figure 22: Reasons for increasing red meat consumption, January 2021
- Health concerns drive down consumption
- Environmental concerns remain in background but are poised to grow in importance
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- Figure 23: Reasons for decreasing red meat consumption, by age, January 2021
Protein Use Occasions
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- Mix of everyday and special occasions drives red meat usage
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- Figure 24: Protein use occasions, January 2021
- Younger beef eaters could be open to higher use throughout the day
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- Figure 25: Protein use occasions – Beef, by age, January 2021
Red Meat Attribute Importance
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- Keeping it clean and natural becoming an expectation
- More narrowly focused claims have the potential to differentiate
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- Figure 26: Red meat attribute importance, January 2021
- Young purchasers’ attribute priorities reflect a conflicted view of red meat
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- Figure 27: Red meat attribute importance, by age, January 2021
Interest in Red Meat Features
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- Packaging-related features draw interest
- Local sourcing a priority for some and an opportunity for private label
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- Figure 28: Interest in red meat features, January 2021
- Value-added products more likely to appeal to younger shoppers
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- Figure 29: Interest in red meat features, by age, January 2021
Attitudes toward Red Meat
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- An especially tasty source of protein and other nutrients
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- Figure 30: Attitudes toward red meat, January 2021
- Reimagining the red meat case as a menu of meal ideas
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- Figure 31: Attitudes toward red meat – Ideas and education, by age, January 2021
- Concern for environment and animal welfare tied to changes in consumption
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- Figure 32: Attitudes toward red meat – Environmental impact and animal welfare, by change in red meat consumption versus a year ago, January 2021
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – The Market
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- Figure 33: Total US retail sales and forecast of packaged red meat, at inflation-adjusted prices, 2015-25
- Figure 34: Total US retail sales and forecast of beef, at current prices, 2015-25
- Figure 35: Total US retail sales and forecast of beef, at inflation-adjusted prices, 2015-25
- Figure 36: Total US retail sales and forecast of pork, at current prices, 2015-25
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- Figure 37: Total US retail sales and forecast of pork, at inflation-adjusted prices, 2015-25
- Figure 38: Total US retail sales and forecast of other red meat, at current prices, 2015-25
- Figure 39: Total US retail sales and forecast of other red meat, at inflation-adjusted prices, 2015-25
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