The US meat market volume has shown steady growth over the past decade. From 2014 to 2023, the market expanded from 36.96 million metric tons to 41.25 million metric tons, reflecting a compound annual growth rate (CAGR) of 0.48%. Over the last five years, the average annual growth rate was 0.48% with a year-on-year increase of 0.6% in 2023. Between 2021 and 2022, the market experienced a slight decline of -1.36%, followed by a modest recovery in 2023.
Looking ahead, the market is expected to continue its growth trajectory, forecasted to reach 42.44 million metric tons by 2028. The five-year forecast CAGR stands at 0.43%, indicating a gradual but consistent increase. Key trends to watch for include potential consumer shifts toward alternative protein sources, fluctuations in meat prices, and the impact of regulatory changes on meat production and distribution. Additionally, advances in technology and sustainability initiatives may significantly influence market dynamics in the coming years.
