As a growing number of consumers lean toward plant-based diets, restaurants and food manufacturers are responding with meatless offerings like The Beyond Burger.
Are meatless products gaining on the real meat industry? We keep hearing about all different types of new meatless options and some of them taste pretty good. The meatless trend is still going and keeps making its way into more retail stores and restaurants. Does that mean meat consumption is on its way out?
The Deal on Meat Consumption
Are we losing our love for actual meat?
Not at all! Over the years, there was a spike in meat prices, which caused meat consumption to decline. However, prices have started coming down and consumption has started going up.
2015 – Americans ate an average of 54 pounds of beef.
2016 – Americans ate an average of 55.6 pounds of beef.
Over the last decade, U.S. beef consumption plummeted 15%. Due to the recession, beef prices rose 50% between 2006 and 2016. No wonder the consumption of meat declined.
With beef prices starting to come down more and more Americans are starting to increase their meat intake. Fast-food restaurants are having more leeway in discounting their beef products and consumers are taking notice.
“The trio of burger-driven restaurant chains is seeing 3% to 5% same-store sales growth year over year” ~Will Slabaugh, an analyst with Stephens, a financial services firm based in Little Rock, Ark. (USA Today)
So, while the meatless trends are continuing to soar…there’s still a strong demand for meat!