Despite cost pressures and operational challenges, the global poultry market is bullish with high demand and tight supply, Rabobank said in its Q3 2022 report.
A combination of inflation, a labor shortage and supply chain issues have caused consumers to cut back on spending in recent months. However, consumers are still wanting good quality meals and demand remains strong in most convenience meat segments as shoppers continue to look for easy ways to create their favorite meals.
Beef is a go-to American staple, and its popularity skyrocketed during the COVID-19 pandemic, when many home cooks sharpened their skills in the kitchen and people consolidated their grocery shopping into fewer trips while maintaining a freezer stash at home.
The pandemic has highlighted tremendous opportunities for technology to solve continuing challenges impacting consumer behavior in fresh, said Muntazir Mehdi, senior product manager for analytics and AI for Toronto-based Invafresh, whose technologies are currently being used in more than 25,000 grocery stores in 15 countries.