The turnover of the retail market for meat, poultry, and eggs in China saw significant fluctuations over the last decade. In 2013, the market turnover stood at 196.01 hundred million Yuan Renminbi and experienced both increases and drops in subsequent years, reaching 226.88 in 2023. From 2013 to 2023, year-on-year variations showed notable peaks and troughs, with the most substantial growth in 2013 at 25.24% and the biggest decline in 2021 at -8.99%. The compound annual growth rate (CAGR) over the last 5 years up to 2023 was minimal, at only 0.02%. Forecasts suggest a steady, albeit modest, growth trend from 2024 to 2028, with a CAGR of 0.55% and a forecasted growth rate of 2.8% by 2028.
Future trends to watch for include:
- Consumer preferences shifting towards higher quality and safety standards in meat products.
- Potential impacts of regulatory changes on market dynamics.
- Technological advancements in meat production and supply chain efficiencies.
- Increasing competition from plant-based and alternative protein markets.
