In 2023, meat production in the US stood at 48.03 million metric tons, showing a year-on-year increase of 0.63%. Over the preceding five years (2019-2023), the compound annual growth rate (CAGR) was modest at 0.5%. Historically, the annual growth rates fluctuated significantly, with notable spikes in 2016 (3.14%) and 2021 (8.08%), and declines observed in 2020 (-4.35%) and 2022 (-1.33%). The projected CAGR for the upcoming five years (2024-2028) is also estimated at 0.5%, with an expected total growth of 2.53% over this period, reaching 49.65 million metric tons by 2028.
Future trends to watch for include:
- Technological advancements and efficiency improvements in meat production.
- Potential shifts towards more sustainable and alternative protein sources.
- Impact of regulatory changes on production practices.
- Global market dynamics and trade policies affecting export and import balances.
