A post-pandemic economy looks much different in 2021 compared to the previous year. Despite capitalizing on the lessons learned from 2020 logistical challenges still persist in the air and sea freight sectors. Less airline capacity, port congestion, fewer ocean containers in circulation, rising fuel costs, etc. continue to plague the logistics industry.
Exponential growth in e-commerce has attributed to record imports as consumers divert more of their entertainment budget towards the retail sector. The pivot in spending habits has accelerated the online shopping market growth by a decade. Especially, in the grocery industry which is currently estimated at $8 billion per month.
Beef is one of the primary and most common products purchased on the online grocery market. Alongside pork and mutton, beef makes up approximately 23.5% of total online perishable food orders. Beef consumption in China continues to steadily rise due to local farming constraints in the respective country. Currently, China consumes an estimated 8.7 million metric tons of beef yearly which translates to $110 billion of beef in a nation where it’s slowly gaining a foothold and growing in popularity.
Not only is real beef growing, but the substitute, plant-based beef products are also gaining popularity and have recently achieved close to price parity with real meat making the cost less of a concern for consumers who base decisions on budget. Experiencing growth at 27% last year, over $7 billion in sales in 2020, beef alternatives are still only cutting into a small segment of the overall meat market.
As this market expands more sellers will want to move beef and beef alternative products into stores and restaurants around the world; this is the time you need an experienced perishables forwarder who uniquely understands the needs of suppliers and how to safely, efficiently, and effectively control the temperature and timeline of frozen food. Our industry experts have decades of experience in helping beef producers ensure their cargo arrives at the peak of quality and freshness. If you’d like to know the ways CFI can help you ship your perishables, co ensure their cargo arrives at the peak of quality and freshness. If you’d like to know the ways CFI can help you ship your perishables, contact your representative today.