Over the past decade, China's beef production has displayed a consistent upward trend. From 2013 to 2023, production increased from 613.09 to 719.98 ten thousand metric tons. Despite minor fluctuations, the year-on-year increase over the last two years was 1.42% in 2022 and 1.77% in 2023, reflecting steady growth. The compound annual growth rate (CAGR) over the last five years stood at 2.25%, indicating robust expansion.
Forecasts predict continued growth in beef production, reaching 769.69 ten thousand metric tons by 2028. The expected five-year CAGR from 2023 to 2028 is 1.02%, translating to an overall forecasted growth rate of 5.21% over this period.
Future trends to watch for include increasing domestic demand driven by population growth and rising incomes, potential improvements in livestock management and productivity, and policy shifts related to agricultural subsidies and trade agreements.
