Global Red Meat Demand Sensitized by Cost Pressures, Sustainability

Global demand for red meat is increasingly affected by cost of living pressures, with consumers adapting their purchasing behaviors due to financial constraints. According to the International Monetary Fund, inflation rates are projected to decline from a peak of 9.4% in 2022 to 4.2% in 2025, yet consumer optimism remains low compared to pre-COVID levels. The MLA's Global Consumer Tracker indicates that two-thirds of consumers have altered how they purchase imported red meat, with a growing preference for pre-prepared options that save time and introduce new flavors. Additionally, environmental sustainability has become a significant concern for consumers, influencing their willingness to pay more for meat products. The report highlights the importance of offering a diverse range of cuts to meet varying budgets and preferences. Overall, the evolving landscape of consumer preferences underscores the need for the red meat industry to adapt to these changing dynamics.