“Stay ahead of the curve in the US Packaged Red Meat Market and future-proof your business with Mintel’s comprehensive market report. Our full report is packed with consumer-led market intelligence, the latest trends in the US red meat market, and consumer behaviours affecting the industry.
Below, we summarise key topics covered and offer some handpicked insights from the full report.
This Report Deliver Key Insights On:
- Consumption of red meats, including storage and types of meat.
- Key drivers and purchase factors influencing consumers when selecting red meat.
- Purchase locations for packaged red meat, including online resources, kits and subscription services.
- Methods used to prepare different forms of red meat.
- Attitudes toward health, sustainability and usage of red meats.
US Packaged Red Meat Market Overview
Sales of red meat in the US have returned to tempered growth. Increased costs have slowed sales but had minimal impact on category penetration, which remains steady at 93%.
- US packaged red meat market size: In 2022, total retail sales for red meat grew by 6.4%.
US Packaged Red Meat Market – What Consumers Want and Why
- US packaged red meat market trends: 72% of red meat consumers agree that it’s worth spending a little more on high quality red meat, suggesting that demonstrating product quality is worth the investment.
- US red meat consumer attitudes: More than half of consumers aged 18-34 say environmental concerns impact their meat consumption. Going forward, brands will need to respond to these changing expectations.
- US packaged red meat market opportunities: 51% of consumers say preparation ideas and recipes would compel them to eat red meat more often, highlighting an opportunity for brands to encourage growth.
What’s Next for the Packaged Red Meat Market?
Discover new ways to connect with your audience, purchase our full US Packaged Red Meat Market Report. Our full report reveals lucrative innovation opportunities to help your business grow during times of financial uncertainty. To learn more about the global meat industry, take a look at our The Future of Animal Proteins and Meat Substitutes Market Report.
Popular Products and Companies Covered in this Report
Products: Beef – including ground beef, steaks, roasts and other cuts of beef, Pork – pork chops, pork cutlets and other cuts, Other red meat – lamb, mutton, goat, bison, venison and other game meats.
Companies: Interstate Meat Distributors Inc, Smithfield Foods Inc, Tyson Foods Inc, JBS USA Holdings Inc, Hickory Foods Inc, Quaker Maid Meats Inc, Meyer Natural Foods LLC.
Expert Analysis from a Specialist in the Meat Industry
This report, written by William Roberts, Jr., a leading senior analyst in the food and drink sector, delivers in-depth commentary and analysis to highlight current trends in the US packaged red meat market and add expert context to the numbers.
While red meat has notoriously struggled with a less-than-healthy perception, despite accolades for protein content, the category has earned somewhat of an indulgent reputation in both a positive and a negative sense. More than seven in 10 category participants agree that quality is worth increased price, yet 4 in ten also indicate that environmental concerns influence consumption, calling for brands to find balance to address both.
William Roberts, Jr.
Senior Analyst – Food and Drink
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top Takeaways
- Consumer trends
- Under 55s stirring new traditions
- Figure 1: Red meat consumption, by age, 2023
- Nods to quality add value
- Figure 2: Red meat purchase factors, 2023
- Competitive strategies
- Sustainable measures draw consumer interest and spending
- Figure 3: Red meat introductions with regenerative or pasture-raised claims, 2023
- Market predictions
- Slowing sales amid inflationary challenge
- Figure 4: Total US sales and fan chart forecast of packaged red meat, at current prices, 2017-27
- Figure 5: Total US retail sales and forecast of packaged red meat, at current prices, 2017-27
- Figure 6: Red meat outlook, 2023-28
- Opportunities
- Gen Z and Millennials looking for unique experiences
- Figure 7: Red meat purchase location, by age, 2023
- Signs suggest sustainable shift from quality indicator to must have
- Figure 8: Attitudes toward ethically sourced red meat, by age, 2023
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Market Size and Forecast
- Higher prices inflate red meat dollar sales
- Figure 9: Total US sales and fan chart forecast of packaged red meat, at current prices, 2017-27
- Figure 10: Total US retail sales and forecast of packaged red meat, at current prices, 2017-27
- Figure 11: Total US retail sales and forecast of packaged red meat, at inflation-adjusted prices, 2017-27
- Higher prices inflate red meat dollar sales
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Segment Performance
- Beef segment widens the gap between pork and others
- Figure 12: Sales of packaged red meat, by segment, current year
- Figure 13: Total US retail sales and forecast of packaged red meat, by segment, at current prices, 2020-22
- Beef segment widens the gap between pork and others
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Market Share/Key Players
- Private label continues to dominate red meat sales
- Sales of packaged red meat by company
- Figure 14: Sales of packaged red meat, by company, 2022 and 2023
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Competitive Strategies and Market Opportunities
- Brands get transparent to mitigate environmental impact
- Figure 15: Red meat introductions with regenerative or pasture-raised claims, 2023
- Gen Z, Millennials will drive channel changes
- Figure 16: Red meat purchase location, by age, 2023
- Young adults have new expectations for ethics, environment
- Figure 17: Attitudes toward red meat, by age, 2023
- Brands get transparent to mitigate environmental impact
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Market Drivers
- Inflation impact is hitting home
- Figure 18: Assessment of personal financial situation, 2021-23
- Savings seekers stock up, trade down and cut out
- Figure 19: Food and drink savings methods, 2022 and 2023
- Elevated protein costs call for incentives
- Inflation impact is hitting home
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The Packaged Red Meat Consumer – Fast Facts
- Category consumption nearly universal, driven by beef and pork
- Young consumers demonstrating a category shift
- Consumers are finding ways to offset the impact of higher prices while still buying red meat
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Red Meat Consumption
- Fresh beef, pork top consumption
- Figure 20: Red meat consumption, 2023
- Younger meat eaters shifting norms
- Figure 21: Red meat consumption, by age, 2023
- Future red meat eaters will seek diverse options
- Figure 22: Repertoire of red meat consumption, by age, 2023
- Fresh beef, pork top consumption
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Red Meat Purchase Location
- Supermarkets remain the go-to for red meat
- Figure 23: Red meat purchase location, 2023
- Young meat eaters shop around
- Figure 24: Red meat purchase location, by age, 2023
- Supermarkets remain the go-to for red meat
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Red Meat Purchase Factors
- Price being paramount, quality leads other drivers
- Figure 25: Red meat purchase factors, 2023
- Vary package size for different consumer needs
- Figure 26: TURF Analysis – Red meat purchase factors, 2023
- Price being paramount, quality leads other drivers
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Red Meat Preparation Methods
- Preparation routines ripe for disruption
- Figure 27: Correspondence Analysis – Principal map – Preparation method interest, 2023
- Young adults expanding their cooking methods
- Figure 28: Preparation methods – Pressure cooker, sous vide and slow cooker, by generation, 2023
- Parents seek speed and convenience via the microwave
- Figure 29: Preparation methods – Microwaved, by parental status, 2023
- Preparation routines ripe for disruption
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Attitudes toward Red Meat
- Consumers seek quality, creativity despite inflation
- Figure 30: Attitudes toward red meat, 2023
- Decadent red meat reputation transcends income
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- Figure 31: Price and quality attitudes toward red meat, by household income, 2023
- Sustainability rising points to changing expectations
- Figure 32: Attitudes toward ethically sourced red meat, by age, 2023
- Gen Z, Millennials looking for kitchen hacks, short cuts
- Figure 33: Attitudes toward innovation for red meat, by generation, 2023
- Consumers seek quality, creativity despite inflation
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Appendix – Data Sources and Abbreviations
- Data sources
- Sales data
- Forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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Appendix – The Market
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- Figure 34: Total US retail sales and forecast of packaged red meat, at current prices, 2017-27
- Figure 35: Total US retail sales and forecast of packaged red meat, at inflation-adjusted prices, 2017-27
- Figure 36: Total US retail sales and forecast of packaged red meat, by segment, at current prices, 2017-27
- Figure 37: Total US retail sales of packaged red meat, by segment, at current prices, 2020 and 2022
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- Figure 38: Total US retail sales and forecast of beef, at current prices, 2017-27
- Figure 39: Total US retail sales and forecast of beef, at inflation-adjusted prices, 2017-27
- Figure 40: Total US retail sales and forecast of pork, at current prices, 2017-27
- Figure 41: Total US retail sales and forecast of pork, at inflation-adjusted prices, 2017-27
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- Figure 42: Total US retail sales and forecast of other red meat, at current prices, 2017-27
- Figure 43: Total US retail sales and forecast of other red meat, at inflation-adjusted prices, 2017-27
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Appendix – Companies and Brands
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- Figure 44: Sales of packaged red meat, by company, year and year
- Figure 45: Multi-outlet sales of beef and other red meat, by leading companies and brands, rolling 52 weeks 2022 and 2023
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- Figure 46: Multi-outlet sales of pork, by leading companies and brands, rolling 52 weeks 2022 and 2023
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Appendix – Consumer
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- Figure 47: Average annual household spending on packaged red meat, 2017-22
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Appendix – Retail Channels
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- Figure 48: Total US retail sales of packaged red meat, by channel, at current prices, 2017-22
- Figure 49: Total US retail sales of packaged red meat, by channel, at current prices, 2020 and 2022
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- Figure 50: US supermarket sales of packaged red meat, at current prices, 2017-22
- Figure 51: US sales of packaged red meat through other retail channels, at current prices, 2017-22
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Appendix – TURF Analysis Methodology
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- Figure 52: Table – TURF Analysis – Important red meat attributes, 2023
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Appendix – Correspondence Analysis Methodology
- Preferred preparation method by meat type
- Figure 53: Correspondence Analysis – Symmetrical map – Preparation methods, 2023
- Figure 54: Correspondence Analysis – Principal map – Preparation methods, 2023
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- Figure 55: Preparation methods, 2023
- Preferred preparation method by meat type
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