BY 2020, health related expenditure in Australia is expected to overtake the spend on restaurants and hotels.
Meanwhile, incomes are growing fast in Asia. Dishonest companies are being exposed online.
And the plethora of competing sources of information means nobody knows what or who to trust.
As inconceivable at it may seem, these apparent peripheral tidbits all have quite the potential to influence the future fortunes of the Australian cattle producer.
Demand for red meat is a factor of so many variables. Megatrends suggest both threats and opportunities.
Understanding, monitoring and, where required, repositioning our product in response to global trends will be critical to red meat’s prosperity, says Meat and Livestock Australia’s chief marketing and communications officer Lisa Sharp.
More for less: This megatrend exposes how governments, companies and communities are finding ways of ensuring quality of life within the confines of limited resources.
MLA research shows consumers are looking for “natural” meat - that is beef produced with minimal human intervention.
In beef, areas where this trend is likely to impact include efficiency in on-farm management, sustainable practices, yield from animal and leveraging everything the animal produces.
Great expectations: Demand for experiences over products and the importance of social relationships is on the rise. Consumers are demanding transparency.
The takeaway - what your social media profile says about you can be just as important as the physical product you are offering.
Silk highway: Rapid income growth in Asia, and to a lesser extent South America and Africa, will see billions transition out of poverty and into middle income classes.
The correlation between income growth and protein consumption is well-established.
Forever young: The aging population will mean more spending on healthcare and less on restaurants and hotels - two very lucrative channels for Australia red meat.
“We need to link red meat’s brand image with health messages and explore value added opportunities targeting older and wealthier consumers,” Ms Sharp said.
Fear, uncertainty and doubt: This trend started with the 2001 terrorist attacks in the US and means we look to what we can, as an individual, control.
How it’s playing out: A 2016 CSIRO study showed more consumers are using pack labels to drive purchases and 35 per cent felt country of origin was the most important piece of information.
That combines beautifully with Australian beef’s paddock to plate traceability and integrity.
Shan Goodwin
Shan Goodwin steers ACM’s national coverage of the beef industry. Shan has worked as a journalist for 30 years, the majority of that with agricultural publications. She spent many years as The Land’s North Coast reporter and has visited beef properties and stations throughout the country and overseas. She treats all breeds equally. Contact 0427686187. E: s.goodwin@austcommunitymedia.com.au
Shan Goodwin steers ACM’s national coverage of the beef industry. Shan has worked as a journalist for 30 years, the majority of that with agricultural publications. She spent many years as The Land’s North Coast reporter and has visited beef properties and stations throughout the country and overseas. She treats all breeds equally. Contact 0427686187. E: s.goodwin@austcommunitymedia.com.au
