Private label meat sales driving market
April 5, 2011
NEW YORK — Despite consumers becoming more price sensitive in recent years, dollar sales for center-plate proteins, including poultry, beef, pork and seafood, rose during the five years from 2006 to 2010, according to market researcher Packaged Facts.
Sales of dinner center-plate proteins exceeded $5 billion in 2010, with sales rising 4%. The increase may be attributed to Americans trying to save money by cooking and eating at home, Packaged Facts said in its new report “What’s for Dinner 2011: Trends in Center of Plate.”
“We expect sales growth to continue at 4% annually for the next three years, benefiting from the strengthening economy but facing increased restaurant competition as that channel also reaps the rewards of U.S. consumers loosening their purse strings,” said Don Montuori, publisher of Packaged Facts. “By 2014, sales will begin to moderate, with 3.5% annual growth in 2014 and 2015, bringing U.S. retail sales to slightly more than $6 billion.”
Private label products topped the poultry, meat and seafood categories, and the appeal of private label offerings means this is a tentative economy and consumers are looking for value. Private label meat had 43% market share, and in comparison Cargill had 12% share as the leading national brand. Private label fresh and frozen chicken had 28% of center-plate poultry market, which was more than double the level the sales of the category’s top marketer, Jennie-O. Private label seafood sales were at $60 million in 2010, up 17% from the previous year.