THE UNITED KINGDOM, London Being a trusted manufacturer is key to success in the branded meat market in the US, according to new analysis by Canadean.
The full report, Consumer and Market Insights: Meat Market in the US - due to be published in mid-February - has suggested that while non-branded meat is often a favoured option, due to its lower price point, manufacturers need to address concerns with regards to trust and ethics.
Safwan Kotwal, analyst at Canadean, said: "Global meat scandals have tightened the screw on this market, leaving consumers angry and somewhatconfused, leading to demand for greater transparency."
The US meat market is predicted to see a compound annual growth rate (CAGR) of 1.7%, from approximately $68 bn. in 2013, to $84 bn. by 2018. Fresh meat continues to lead the way, accounting for more than a quarter of total volumes in 2013, thanks to a rising preference for fresh produce, especially among older consumers, according to Canadean.
Frozen meat is also seeing good growth, as the benefit of being able to buy it in bulk and freeze it for long periods appeals to many consumers.
However, while the US market is seeing healthy growth, consumers are showing less brand loyalty and, instead, are switching to alternatives that they perceive as offering better value for money, said Kotwal. Displaying credible food certifications, such as organic, may enhance the perception that the product is of a higher quality, he added.