Retail Protein Demand Forecast
The Jacobsen is forecasting animal protein sales will rise approximately 7% year over year in 2021.
New year’s resolutions generally last about a month before people start to revert to their old habits. Diets and changes to their food habits are usually at the top of the list. To determine what is in store for 2021, Applegate Farms, an organic meat company owned by Hormel Foods, kicked off the new year with a survey of more than 1,000 adults to gain insight into their New Year’s resolution plans related to better eating 2021. The organic meat company, which is a subsidiary of Hormel Foods Corp., Austin, Minn., found that 72% of those surveyed believe meat should be part of a healthy diet, and 55% are resolving to cut back on sugar.
The survey found 58% of adults have no plans to consume less meat in 2021 and illustrated how consumers seek organic meat products that are humanely raised. 40% of respondents think it’s essential to choose organic options when purchasing meat products.
To gauge the sales demand for organic meets, The Jacobsen has set up a new index called The Jacobsen organic meat index. We will also be providing a non-GMO meat index to our forecasting clients. The organic meat index data can also be found (soon) on The Jacobsen forecasting module.
The trend in organic meat sales (which consists of broilers, turkey, beef, and pork) is upward sloping, and The Jacobsen expects the trend to continue to rise. Sales in this space moved above 1.5-billion for the first time in history as the pandemic continues to force people to cook at home. The organic meat index increased 29% year over year for the 12-months ending November 2020. This trend is expected to continue for December.