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(Bloomberg) -- JBS SA said demand for meat is benefiting from an unlikely source: weight-loss drugs.
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People on GLP-1 medication seem to be adding more protein to their diets, further increasing demand for chicken and beef at a time when supplies are tight, Gilberto Tomazoni, chief executive officer of the world’s largest meat supplier, said at the BMO Farm to Market conference in New York.
The so-called Ozempic Revolution has wiped billions off the market value of food and drink companies as consumers under appetite-suppressing drugs cut down on grocery expenses. Still, some segments of the industry stand to gain. Danone SA said it was seeing a jump in demand for its high-protein, low calorie yogurts in the US as a result of the obesity-treatment craze.
Tomazoni said consumers using GLP-1 drugs are likely increasing their protein intakes in order not to lose muscle mass. Meat companies including JBS have seen profits jump amid strong demand for chicken.
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