The key trends shaping the future of European animal protein consumption
There are a number of key trends driving changes in animal protein consumption in Europe. Constrained availability will have the biggest impact on animal protein consumption going forward, as it will require consumers to adjust their choices. Overall animal protein production in Europe is expected to decline in the coming years. Policies and standards around environmental and social issues are intensifying and exacerbate the pressure on animal protein supply chains, which are already challenged by a structural lack of profitability. A sustained loss of competitiveness in export markets will challenge pork production, while beef production will continue its structural decline. Also, increasing animal welfare standards will limit the long-term growth of poultry production.
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Consumer preferences are also evolving, creating change in what, where, and how much people are consuming. The growth in convenience products, premiumization, and the changing preferences of younger generations will lead to reduced animal protein consumption.
Animal protein companies need to continuously adapt to these subtle but ongoing changes if they want to remain successful. Three areas warrant specific attention in our view. First, animal protein companies can benefit from diversifying their markets, sales channels, and products. Second, they also need to have strategies in place to meet sustainability and animal welfare standards in their supply chains. And third, they need to make their claims around sustainability and animal welfare visible to consumers to help realize a return on investments.
