The pigmeat production in Australia has shown a general upward trend from 2013 to 2023, starting at 359.84 thousand metric tons in 2013 and reaching 422.48 thousand metric tons in 2023. Over the past decade, there have been some fluctuations, with notable year-on-year increases such as 5.16% in 2016 and decreases of -2.84% in 2019. However, from 2020 onwards, the production levels have mostly stabilized with minimal year-on-year variations, hovering around 0.046% to 0.052% from 2021 to 2023. The CAGR over the last five years sits at 0.38%, indicating modest annual growth.
Looking ahead, the forecast up to 2028 suggests a continuation of stable, slight upward trends in production levels. The five-year CAGR is expected to be around 0.02%, with an overall forecasted growth rate of 0.12%. This indicates a period of relative stability with marginal annual increases in production.
Future trends to watch for include potential factors that could influence this stability, such as changes in domestic and international demand, technological advancements in farming practices, and any regulatory adjustments. Additionally, environmental concerns and shifts in consumer preferences towards alternative proteins could impact longer-term production levels.
