In 2023, China's beef and veal meat domestic consumption was approximately 11.18 million metric tons. By 2024, the forecasted consumption is expected to rise to 11.62 million metric tons, indicating a growth of about 3.9%. From 2024 to 2028, the consumption is forecasted to increase steadily, with an average compound annual growth rate (CAGR) of roughly 3.8%. Over the period, the largest expected incremental growth is between 2027 and 2028.
Emerging future trends to monitor include:
- Increasing demand driven by dietary shifts toward higher protein consumption.
- The influence of economic factors, such as income growth and urbanization, on meat consumption patterns.
- Potential impacts of trade policies and local production capabilities on the beef supply chain.
