1、1Brian Earnest,Lead Animal Protein Industry AnalystTrends in Consumer Demand and Purchasing Patterns for Meat and ProteinsUSDA Agricultural Outlook Forum Arlington,VA|February 28,2025Animal protein demand has been exceptional in recent yearsConsumers learned how to cook in 2021,and inflation is push
2、ing them to the kitchenRetail format is evolving;convenience and value have gained importanceThe grocery meat shopping is evolving so is procurement2Meat consumption has had an impressive growth spurt3Per capita meat consumption(annual pounds)Source LMIC,USDA,Presentation by Brian Earnest,CoBank0501
3、001502002501980198519901995200020052010201520202025TurkeyChickenLambVealPorkBeef*retail weight basis5.64.7-0.20.418.7-210-year changeDollars gained at restaurants far exceed grocery4Consumer food expenditures(per capita,monthly average)Source:USDA,Census Bureau,CoBank Calculations,Presentation by Br
4、ian Earnest,CoBank$150$200$250$300$3502015201620172018201920202021202220232024Away from homeAt home-6%-4%-2%0%2%4%6%8%10%12%May-22Sep-22Jan-23May-23Sep-23Jan-24May-24Sep-24Consumer restaurant spending is flattening5Inflation adjusted food spending YoY change(3-month moving average)Source:USDA,CoBank
5、,Presentation by Brian EarnestAt homeAway from homeRetail meat inflation cooling,but prices remain highSource:Bureau of Labor and Statistics(FRED)695105115125135145155165201920202021202220232024Retail Price Index(Value as a%of Jan 1,2019)Ground BeefChicken BreastPork ChopBeef Steak0.40.390.280.230.2
6、20.130.02-0.06-0.33-0.38-0.41-0.48TasteFreshnessPriceNutritionSafetyHealthAppearanceConvenienceHormone/anti-freeAnimal welfareOrigin/traceabilityEnvironmental impactTangible protein benefits top consumer interest7Protein values(mean importance)Source:KSU Agricultural Economics(Oct 2024)Premiumizatio