Study: Brazil's meat industry must adapt to financial, health concerns
In addition to price considerations, the nutritional value of products is becoming increasingly important.
The contraction of Brazil’s economy in recent years is driving consumers toward more affordable products, which is reflected in their meat choices, according to consumer insight firm Canadean, London.
The company’s latest report, “Consumer and Market Insights: Meat in Brazil,” states that, due to the high importance of the meat sector in the country, Brazilians have become increasingly savvy shoppers, and are ever more aware of which meat products constitute good value for money. Larger pack sizes, family portions, buy-one-get-one-free offers and in-store deals are appealing to consumers looking for optimum value. Other attributes such as better, unusual or interesting cuts of meat are also important and elevate the perceived value of the product.
“Brazilian consumers are very discerning about the quality of meat products, so offering good quality or innovative cuts of meat at reasonable prices will be fundamental for manufacturers hoping to remain appealing,” says Javier Gonzalez, analyst. “Indeed, such a strategy is particularly astute now due to brand loyalty being lower than ever.”
In addition to price considerations, the nutritional value of products is becoming increasingly important. Low-fat, low-sodium, low-carbohydrate and high-protein meats are all attractive to consumers looking for a healthier lifestyle.
“Brazil’s aging population will make it vital that manufacturers introduce healthier meat products that match mature consumers’ nutritional needs,” adds Gonzalez.