Millennials’ buying habits determine the future of the meat sector

A new report from GlobalData, a leading data and analytics company, has found that there has been a global shift away from the consumption of meat. Research has found that 70 percent of the world’s population are reportedly reducing their meat consumption or are leaving meat off of their table altogether.

Consumer Analyst Fiona Dyer from GlobalData said: “The shift toward plant-based foods is being driven by millennials, who are most likely to consider the food source, animal welfare issues, and environmental impacts when making their purchasing decisions.”

Brands are confident that this is set to become a lasting habit from consumers. Quorn are one company noticing the change in consumers’ attitudes, seeing a 19 per cent increase in sales during the first half of 2017. Bol Foods relaunched in early 2017 as a meat-free company, driven by the changing approach people have to their diets.

Consumers are becoming increasingly aware of the damage meat production has on the environment, and Meat & Livestock Australia have asserted the belief that red meat processors in Australia could be carbon neutral by 2030. The body claims that Australia has already reduced their share of total emissions from 20 percent in 2005 to 15 percent by 2015, and intends to continue this trend. The introduction of dung beetles and legumes in pastures, genetic selection and the potential of a vaccine to reduce methane in the rumen are options Australia are considering moving forward to become a carbon neutral meat producer.

Dyer added: “Whilst its efforts are not wholly altruistic or driven by a desire to save the planet – the potential for exporting its beef would grow exponentially if the carbon neutral goal was achieved – it may nonetheless prove to be a turning point.”

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