From 2014 to 2023, beef meat demand in Mexico, expressed in Million Metric Tons, has shown fluctuations. In 2023, demand stood at 1.91 Million Metric Tons. Despite a significant dip in 2020 by -16.78%, the market recovered well with a notable 20.74% rise in 2021. The average Compound Annual Growth Rate (CAGR) over the last five years was around 0.084%. Year-on-year variation has generally been moderate, indicating relative stability in the later years.
Looking forward, the forecasted data suggests a stable CAGR of 0.18% for the next five years up to 2028, predicting the demand to reach 1.93 Million Metric Tons by 2028. The projected 5-year growth rate stands at 0.89%. Trends to watch include potential shifts in consumer preferences, economic factors, and policy changes that could impact beef consumption.
