There are fears the US faces a coronavirus-driven meat shortage, but analysts say there's actually plenty to go around: 'We have the meat'
Markets Insider spoke to agricultural analysts who have shared their views on the fate of the meat industry going forward, noting that like many sectors, coronavirus will likely accelerate changes in the industry that we already happening.
Ray added:"Furthermore, with supply chain disruption causing meat prices to increase, the price gap to plant-based protein alternatives has narrowed, which we expect to further drive first-time sales." Dr. Madhav Durbha, group vice president of industry strategy at LLamasoft, said the alternative meat products, such as"Recently about $3.6 billion in market size, this segment of the market is expected to grow by 17% through 2021.
"To prepare for increased demand, meat processors and companies must utilize their enterprise resource planning and its inventory management solution." "These tools can predict when shortages are possible and notify if material prices are surging or gaps in the supply chain are imminent and they can also proactively inform up or downstream partners in the supply chain, leading to fewer ripple effects during uncertain times."Dr Durbha said:"With the slowing down in economy and rising unemployment, even at home consumption is shifting to less expensive forms of meat with consumers trading down from rib-eye to strip steak.
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