The meat market in Mexico has experienced steady growth from 2014 to 2019, except for a slight decline in 2019 and a substantial dip in 2020 due to external factors.
Despite this setback, the market rebounded strongly in 2021 with a significant year-on-year increase of 21.59%. The growth stabilized in 2022 and 2023, showing marginal yearly increases of 0.9% and 0.87%, respectively.
In 2023, the market stood at 9.04 million metric tons. Over the last five years, the compound annual growth rate (CAGR) averaged 0.68%.
Forecasts indicate continuous moderate growth, with a projected CAGR of 0.7% over the next five years, anticipating a volume of 9.45 million metric tons by 2028.
Future Trends to Watch:
- Impact of economic conditions and consumer spending on meat consumption
- Sustainability concerns and a shift towards plant-based alternatives
- Technological advancements in meat production and processing
- Government regulations and policies related to meat production and imports
