The US meat processing industry has shown significant variability from 2014 to 2023, starting at 26.0 thousand metric tons in 2014 and gradually increasing to 43.0 thousand metric tons in 2023. Notable fluctuations include a sharp rise of 185.19% in 2017 and a dramatic decrease of 64.94% in 2018. Recent years (2022-2023) have shown a steadier growth trend with year-on-year increases around 2.38%. The 5-year CAGR leading to 2023 is 9.75%, indicating robust growth despite some historical volatility.
Future projections from 2024 to 2028 suggest more moderate growth with a forecast 5-year CAGR of 1.33%. By 2028, the industry is expected to reach 47.0 thousand metric tons, marking a cumulative growth of 6.82% over the period.
Future Trends to Watch:
- Technological advancements in processing techniques
- Growing consumer demand for plant-based and alternative proteins
- Impacts of regulatory changes on production standards
- Potential effects of global trade policies on meat exports and imports.
