Millennials Dominate U.S. Economy

As reported in a recent comprehensive research study, there are 80 million American Millennials and together they represent a whopping $200 billion in spending power, thus dominating the U.S. economy more than any other generation.

The good news for the veal industry is that Millennial Moms find veal to be healthier and leaner than other proteins. The challenge is that Millennial Moms don’t know much about veal or how to cook it.

Who are Millennials anyway? They are ages 19 to 36 years old and 32 percent are married with an average of 2.3 children ages one to 15. Their average household income is $60,613, and they love food, in fact food is “central to their lives.” They eat out a great deal because they use the occasion to “gather ideas.” As a group, they consider themselves “adventurous foodies.”

That food has not often included veal. Why? Because they had not experienced veal as children. The study, which was commissioned by the Beef Checkoff in 2015, showed that 92 percent could not recall parents ever preparing veal at home, or even ordering veal in a restaurant.

A Veal Consumption Study was conducted among a typical group of Millennial Moms to learn more about their food habits and preferences. Of the participants, 62 percent had never even tasted veal.

However, after cooking and tasting veal recipes, many expressed an increased willingness to integrate more veal into their diets because they enjoyed the mild taste, tenderness and leanness compared to other proteins. They were also surprised at how easy veal was to cook. A number of participants were even convinced they would replace other proteins in their diets with veal. But, they wanted to know more ways to prepare veal that the whole family would enjoy.

The study showed that 55.6 percent would eat more veal if it was recommended by family and friends, and the same percentage would eat more veal if they knew how to prepare it.

Millennial Moms, unsurprisingly, use the Internet to find new recipes and how to cook various foods—preferring Google searches and cooking websites, but also watch cooking shows on TV.

The research also showed that the entire family dining together at home was the usual practice (79 percent), so as more Millennial Moms introduce veal into the family menu there is an opportunity for the next generation to be more familiar with veal as a healthy, tasty and preferred protein.

Millennials also dine out as a family about twice a month (36 percent) and prefer family-oriented restaurants (71.5 percent). In fact, they spend more than $12 billion eating away from home, which is certainly good news for restaurant operators.