However meat consumption is increasing in certain segments of the population. There is no guarantee this trend will continue especially since it’s unhealthy to eat so much of it.

The meat industry is heavily subsidized by governments of the world and is not sustainable with our planetary resources, we cannot keep clearing Amazonian forests for cattle ranching.

It’s important to note that the use of fur has dropped dramatically in recent years.

Of course it does. That is the "supply" side.

Supply is directly linked with demand and price. It is a triangle of commerce. If either of those lowers, then it is prudent to lower supply as well or face overhead.