2018 Global Economic and Market Outlook
The Ivy investment team’s views on the global economic landscape and investment themes for 2018.
The nation that gave the world bratwurst and hot dogs is cutting back on its favorite pork sausages and loading up plates with more veggie concoctions instead, according to Bloomberg.
Germans last year consumed the smallest amount of pig meat since at least 2005, and the drop will continue in 2017, according to Agriculture Market Information Co. in Bonn. In Europe’s largest hog-producing and pork-eating nation, ham and sausage demand has dropped for at least three straight years.
Pork still accounts for more than half the meat eaten in the continent’s top economy, but it’s losing market share to poultry and beef, and competing more with vegetarian options at shops and restaurants. The shift reflects changing German attitudes about healthier diets and climate-friendly, sustainable food production. There’s also been an influx of refugees who don’t eat pork.
“While there continues to be a lot of appetite for pork dishes, we adapt our menu,” said Christoph Wagemann, the head of procurement and controlling at the 167-year-old Zum Schluessel beer hall in Dusseldorf.
Total pork consumption in Germany has plunged 10% since 2011, to about two million tons last year. Over the same period, demand has increased in neighboring Poland, France and Austria.
With consumers less enamored with pork, even traditional sausage makers are offering veggie options. The 183-year-old Ruegenwalder Muehle Carl Mueller GmbH & Co. KG now produces veggie schnitzels, hams and sausages such as a pea-protein leberwurst, which is normally made of pig liver. (Source: Bloomberg)
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