From 2013 to 2023, beef meat slaughtering in the US displayed significant fluctuations. The value in 2023 stood at 34.097 million heads, marking a slight year-on-year increase of 0.13%. Over the past decade, the industry struggled with declines, notably in 2014 (-7.48%) and 2015 (-4.98%). However, it saw notable rebounds, such as in 2021 with a 7.51% increase. The five-year CAGR leading to 2023 was marginally positive at 0.23%, indicating modest growth. Forecasts suggest a small average yearly increase of 0.1% through to 2028, with a total five-year growth rate of 0.49%.
Future trends to watch for include:
- Fluctuations due to market demand and livestock disease outbreaks.
- Impact of changes in consumer preferences towards plant-based alternatives.
- Government regulations affecting the beef industry.
- Technological advancements in meat processing and global trade dynamics.
