Report Shows Strong Demand Continuing for U.S. Beef
The National Cattlemen’s Beef Association released its “Today’s Beef Consumer” report, and it shows beef demand continues to remain strong. Despite various challenges faced by the industry, consumers have repeatedly stated that they will continue buying beef in both the retail and foodservice settings. Compiling research from last year, the report shows more than two-thirds of consumers reportedly eat beef on a weekly basis or even more than that. Inflation is top-of-mind when shopping for food, and more than three-quarters of consumers reported an increase in the price of food, whether at retail or foodservice.
While it was no surprise that beef sales at foodservice dropped sharply in 2020 and 2021, sales in 2022 rebounded in both volume and dollars, surpassing the pre-pandemic levels of 2019. During COVID, consumers were forced to cook from home, and many continue to do so as a way to stretch dollars and combat inflation.
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