Validating the demand for goat meat in the US meat market

Abstract

There is a large body of literature in economics examining the US meat market, but few studies have focused on the US goat meat market. This study, as a catch-up effort, provides an estimate of the demand for goat meat and assesses the impact of driving factors in the US goat meat market. The data for this study were collected in 11 southern states and specifically elicit the demand and consumer preferences in this non-conventional market. Four econometric models are fitted to examine the multiple layers of the demand, including the current, the potential, the latent, and the seasonal demand. Findings indicate a substantial demand for goat meat with great growth potential, driven by demographic factors and food safety concerns. Ethnic groups and the aged comprise the current niches for goat meat, and the preferences for healthy and safe meat will define the market in the future.