The meat market in the US is growing faster than ever before.
That’s according to an industry survey conducted by market research firm Market Insights.
The meat industry saw a 5.4% increase in revenues from February to March, and an 8.2% increase from April to May.
That represents a whopping increase of over 20% over the past 12 months.
The reason for this growth is because of the rising demand for meat, the survey shows.
“Demand for meat is at an all-time high,” says Mark Miller, CEO of Market Insight.
“The market for meat has doubled since 2011, and we’re seeing a record number of meat buyers this year.
We expect this trend to continue.”
The meat market is expected to be $13.9 trillion in 2018, and it’s expected to grow by 15.6% to $14.6 trillion by 2020, according to the Market Insult report.
That means that more than $8.5 trillion in sales are expected to come from meat alone by 2021.
That is nearly twice as much as the market for any other food category.
Meat is the second most valuable food on earth, after gold, and that is expected increase to $6.5 billion by 2021, up from $5.7 billion in 2021.
“Our estimate for 2021 is $7.6 billion in revenue, up 6.6%, and a market worth over $30 trillion,” says Miller.
That would make meat the most valuable commodity in the world.
“The market will grow faster than it ever has,” Miller says.
The report also showed that demand for beef is expected by 2021 to increase at an average annual rate of 16.4%, which would be the fastest rate in the history of the market.
The average price of a pound of beef is estimated to be around $7 a pound.
The market for beef has doubled in just two years.
It is expected that by 2021 it will be more than double the price of pork, and more than triple the price that beef is worth in comparison to other meats.
Meat prices have also been on the rise for years.
Last year, the average price for a pound was around $1.65.
In 2018, it was $2.55.
“We are seeing an incredible increase in demand for meats,” says Michael Sivak, president of Market Insight.
“In fact, the meat industry has tripled in value in the last two years.”
“It’s an incredibly exciting time for meat,” says Sivack.
“I would say that’s a good thing.
I think this is good news for consumers.”
“The price of meat has been on a tear since the recession,” says Steve DeAngelis, chief operating officer of the National Pork Producers Council.
The growth of the meat business has been driven by the rise in demand from the middle class and millennials.
“With millennials wanting to cook with a little more creativity and experimentation, meat prices have been skyrocketing,” he says.
DeAngeles is also bullish on meat in the future.
“If we look at the meat supply chain, we will see the meat boom in 2019.
We will see a massive increase in meat production in 2020 and 2021.
We have an incredible supply chain here in the United States,” he said.
“As demand for our product continues to grow, it is important for producers to continue to invest in new technology, research, and automation.
The opportunity is there.”