According to a new Rabobank report, global beef demand is likely to remain steady in 2024 despite economic challenges and consumer shifts toward lower-priced proteins. However, trade flows are shifting.
Across most markets, beef retail prices have risen since 2019, and the impact of inflation in 2022 and 2023 added to the cost of living, pressuring consumers’ budgets and changing spending patterns. With consumers trending toward cheaper options in 2023, foodservice and retail companies began promoting value-based propositions more frequently, some of which outperformed.
“While there was…
