The frozen bovine meat market in Spain witnessed a notable decline in value, decreasing from 353.83 million euros in 2013 to 154.31 million euros in 2023. This represents a steady downward trend, highlighted by significant year-on-year variations, including an 8.32% decrease in 2020 and a 3.26% decrease in 2023. The five-year compound annual growth rate (CAGR) from 2019 to 2023 is -8.98%, indicating a prolonged contraction in market size. Forecasts for 2024 and beyond continue to predict a decrease, projecting a five-year CAGR of -2.85%, culminating in a market value of 129.11 million euros by 2028.
Future trends to watch for include shifting consumer preferences toward alternative protein sources, the impact of potential economic recovery, and evolving trade relationships within the EU that could affect supply chains and pricing dynamics in the frozen bovine meat sector.
