TL;DR: The 2024 US Power of Meat report highlights meat’s enduring popularity, with a decline in those reducing meat consumption. Trends suggest a shift towards valuing flavour, nutrition, and sustainability over price, challenging the industry to cater to evolving consumer preferences.
The 2024 US Power of Meat report, revealed at the Annual Meat Conference in Nashville, highlights meat’s enduring appeal in the United States. An impressive 98% of households continue to buy meat, and fewer people are now looking to cut down on meat consumption, a decrease of 20% since 2020. This trend suggests a shift away from plant-based alternatives like Beyond Meat and Impossible Foods, which have seen a decline in sales after their initial boom. Consumers seem to prefer the authentic taste and texture of traditional meats over these alternatives.
The report dives into various meat types, including pork, chicken, and turkey, noting shifts in dietary preferences across generations. A key takeaway from last month’s conference was the changing consumer motivation behind meat purchases. Price, while still important, is now considered alongside nutrition, taste, sustainability, convenience, or health.
In the US, a significant 43% of people are dining out less, opting instead to cook restaurant-quality meals at home. Similar trends are observed in New Zealand, where Ministry of Health research shows a strong preference for meat, regarded as delicious, convenient, nutritious, and healthy by the majority.
Younger generations in the US are moving towards integrating meat into meals rather than making it the central focus. This presents a challenge to cater to both the preferences of Baby Boomers and the demands of Generations X, Z, and Millennials.
Rick Stein from the Food Industry Association emphasises the importance of exploiting meat’s flavour to meet these evolving consumer preferences. This approach contrasts with New Zealand’s strategy, where meat promotion often focuses on price without highlighting its flavour.
The US research suggests supermarkets may satisfy Baby Boomers but not the younger, more discerning generations. In New Zealand, the task of educating consumers about meat’s sizzle falls to traditional butchers and Beef and Lamb Inc.
Recent research into Australian and US meat consumers indicates a potential for premium red meat products tailored to wellness benefits. This aligns with the sentiments expressed by speakers at the American Annual Meat Conference, pointing towards the necessity of scientifically backed claims to promote red meat’s health benefits in the face of alternative proteins and environmental concerns.
The meat industry must navigate these trends, balancing traditional demands with the evolving preferences of younger consumers. This includes leveraging direct marketing to target the digital-savvy generation, ensuring meat remains a compelling choice in a rapidly changing market landscape.
