LONDON — Meat prices in the U.S. have been on the rise due to factors including weather, international economic and political tensions, and growing global demand. Marketers increasingly look to branding as a way to create a competitive advantage in what for a long time had been a commodity market. Branding is also a key component in the development of convenience products targeted to a consumer market stretched thin in terms of time or ability to cook. At the same time, organic and natural products are increasingly in demand, and those who can afford to pay more are showing a willingness to do so for what are perceived as better-for-you products. Looking ahead, it will be increasingly important for marketers to offer meat from sustainable sources.
With the vast majority of Americans continuing to choose meat and meat-based products as their main protein source, Packaged Facts estimates the overall sales of refrigerated meals and meat to have been $25 billion in 2013, up from $22 billion in 2009. Sales are projected to approach $31 billion by 2018. Consumers will continue to diversify the retail outlets where they shop to include more locally sourced products as well as products that are perceived to be healthier.
Scope and Methodology
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