The meat demand in Mexico has shown some variability over the years. In 2023, the meat demand stood at 9.04 million metric tons, marking a 0.87% year-on-year increase. Over the past decade, the growth rate has fluctuated, with notable declines like in 2020 (-16.21%), followed by sharp recoveries such as in 2021 (21.59%). The 5-year CAGR leading up to 2023 was 0.68%. As we look forward, the forecast suggests a steady CAGR of 0.7%, with the demand projected to grow to 9.45 million metric tons by 2028.
Future trends to watch for:
- Impact of evolving consumer preferences towards plant-based diets.
- Effect of economic conditions and disposable income on meat consumption.
- Influence of government policies on meat production and imports.
- Technological advancements in meat production and alternative proteins.
