U.S. consumers were willing to pay more for ribeye steak, shrimp and plant-based patties at retail in August compared to July, while their willingness-to-pay at food service increased across all evaluated proteins. The combined beef and pork projected market shares for August are 33% and 20%, respectively at the grocery store, and 41% and 16% at the restaurant.
“From a month-over-month perspective it appears folks ate out more in August than July leading to elevated demand; perhaps partial budget adjustment from at-home to away-from-home food expenditures,” says Glynn Tonsor, professor…
