Ever since the COVID-19 pandemic has affected the world, more people have turned into vegan and are searching for vegan flavors as an alternative to meal products. This is for the first time that a huge drop is seen in meat sales. The Nielson report compared sales data from 2 weeks and showed huge growth in plant-based foods. Also, vegan meat sales grew by 27% for the week ending and up to 84.6% in the following week.

Overall, the sales of animal products dropped down due to fear that it might contain viruses. The reports of the virus originated from a wildlife market in Wuhan and showed the dangers of animal flesh of any kind. Along with the disease outbreaks, it also showed the symptoms of cancer risks and heart diseases. According to studies, over 50% of Greenhouse Gas emissions come from animal agriculture.

The Analysis and the Report by the Researchers Revealed Several Important Points for the Low Sales

The new baseline updates for the US, Agricultural Market Reports published by the researchers at the University of Missouri Food And Agricultural Policy Research Institute says,

“Beyond the near term opening of the economy, the macroeconomic contraction is likely to have longer-lasting effects. In addition to those impacts, farmer intentions for acreage in 2020 have been published, prospects for achieving the Phase 1 trade agreement with China have narrowed and crop size in South America has become better known.”

It adds-

“These impacts are significant and motivated an update to the 2020 Agricultural Market Outlook, which was produced under the prevailing conditions in early February of this year. This update was prepared for the first week of June 2020. Macroeconomic assumptions are based on May forecasts by IHS Markit, which include a sharp economic contraction in 2020 and a recovery that keeps U.S. GDP below previous estimates for several years.”

Key Outcomes of the Reports

1. The Federal government spent on-farm support and programs in the fiscal year and reached a record of $50 billion.
2. Broiler prices are expected to fall 10-15% in 2020 in comparison to larger supplies and demand.
3. Milk prices went down in 2020. The restaurants and other supply chain disruptions cut the milk product demand; therefore, milk prices fall to $16 per hundredweight in comparison to last year.
4. Earlier, there was a huge growth in the consumption of meat. Unfortunately, after COVID-19, the growth graph declined and reduced consumer income.

Final Words

According to reports, in developed areas like Europe and North America, people have become aware of health and environmental awareness and are reducing meat consumption.

It is also believed that vegan flavors would show growth in the coming years. The growth of plant-based products is growing two times faster than animal products.