Read the latest issue of The Dairy Bar, a bi-weekly report from IDFA partner Ever.Ag. The Dairy Bar features spotlight data, key policy updates, and a one-minute video that covers timely topics for the dairy industry.
The Dairy Bar: Weight Loss Drugs Impact Food Sales; Cheese Consumption Hits All-Time High; and Countdown to 2024 in a Minute!
Quick Bites: Consumers Turning to Blockbuster Drugs for Weight Loss
- More Americans are turning to prescriptions to lose weight as demand for appetite-suppressant drugs such as Ozempic continues to surge, with data from Novo Nordisk showing sales of its GLP-1 drugs up 60% in 2023. The manufacturer also reported that U.S. providers wrote nearly 60,000 new weekly prescriptions as of April 2023.
- Originally designed to treat diabetes, these drugs allow users to shed as much as 15% to 20% of their body weight. With these results, Morgan Stanley projects approximately 24 million people, or roughly 7% of Americans, will be on these medications in 2035, curbing their daily calorie intake by as much as 20% to 30%.
- The uptick raises concerns around food sales in the years to come as 74% of users are reportedly making fewer trips to pizza restaurants and 28% are consuming fewer dairy products, per data from Morgan Stanley.
Today's Special
- Whether enjoyed in a glass of milk, a slice of cheese, or a dollop of sour cream, dairy remains America’s favorite food group. According to the U.S. Department of Agriculture, overall dairy consumption in 2022 was the second-highest total on record, with the average American consuming 653 pounds. That’s up 0.4% over the past five years, +7.5% over the past 15 years and +16.1% over the past 30 years.
- Cheese continues to be a fridge favorite, with consumption hitting an all-time high in 2022 at nearly 42 pounds per person. That marks a half-a-pound per-person uptick from 2021 and a 17.1% increase over the past ten years. In contrast, the average American consumed 32.2 pounds of cheese in 2000 and 21.9 pounds in 1980. Mozzarella proved the most popular category at 12.3 pounds per capita, while cheddar was a close second at 11.4 pounds. Consumer’s love for pizza also plays a big role as Terrain reports nearly 25% of domestic cheese intake comes in the form of pizza. And 2022 proved another great year for U.S. pizza as higher prices pinched wallets, leaving people to opt for lower-cost dining options.
- But tighter budgets didn’t bring the same good news for butter. According to the U.S. Bureau of Labor Statistics, record wholesale prices pushed retail butter to $4.38 per pound, a 22% surge from 2021. That likely played a big role in pulling consumption down by half-a-pound to six pounds per person. But consumption is still up 9.0% over the past 10 years.