Beef is still on the menu

Averaging $27.70/kg in February, retail beef prices were up 18% from February 2025, remaining near record high levels. Ground beef was at its highest point on record, also up 18% from a year ago, supported by smaller non-fed (mature) beef production (-9% year-to-date). Domestic retail beef demand for 2025 is projected to be up 8% from 2024, at its highest point since the early 1980’s. Beef is in the limelight having its ‘protein moment’.

A recent article from Supermarket News found that protein has consistently shown to be more highly prioritized during times of financial constraint compared to starch and produce.^[1] While Gen Z shoppers (those born between 1997 and 2012), Gen X shoppers (born from 1965-1980), and Boomers (born from 1946-1964) are more likely to make and follow a grocery budget, Millennials (born from 1981-1996) put a greater emphasis on health and nutrition.

The rise of GLP-1 drugs are also changing consumer purchasing behaviours. An estimated 6% of Canadian adults are using GLP-1 products; either to manage Type 2 diabetes or for its weight-management benefits.^[2] Users note that they are prioritizing protein consumption, looking to get the biggest bang out of the food they eat. And beef is at the forefront, fulfilling consumers’ needs.

1. A fuzzy forecast for produce demand. Supermarket News. https://www.supermarketnews.com/fresh-produce/a-fuzzy-forecast-for-produce-demand ↑
2. Beyond the prescription: How GLP-1 users are re-shaping food and beverage consumption. Canadian Grocer. https://canadiangrocer.com/beyond-prescription-how-glp-1-users-are-re-shaping-food-and-beverage-consumption ↑