The US sheepmeat production has shown a consistent downward trend from 2013 to 2023, with the value standing at 54.53 thousand metric tons in 2023. Year-on-year variations indicate notable declines, particularly significant in recent years. For instance, the production dropped by 4.78% in 2021, 4.66% in 2022, and 3.91% in 2023. The Compound Annual Growth Rate (CAGR) for the last five years up to 2023 has been -4.75%, illustrating continuous contraction.
Looking ahead, the forecast data predict a continued decline in production. By 2028, production is expected to fall to 48.56 thousand metric tons, with an expected five-year CAGR of -1.64% and an overall growth rate decrease of 7.95% over this period.
Future trends to watch for include:
- Potential shifts in consumer preferences towards more sustainable or alternative protein sources.
- Impact of any new agricultural policies or trade agreements that could affect sheep farming.
- Technological advancements in farming practices that could either mitigate or exacerbate production losses.
