The US poultry processing industry has shown consistent growth over the past decade, with gross output increasing from $61.38 billion in 2013 to $70.48 billion in 2023. The industry demonstrated a year-on-year growth rate of 1.54% from 2022 to 2023. Observing the last five years, the compound annual growth rate (CAGR) has been 1.66%, indicating steady growth despite some fluctuations.
Looking forward to the forecasted years, the industry is expected to maintain an upward trajectory, reaching $75.52 billion by 2028. The projected average annual growth rate (CAGR) for the next five years is 1.09%, with an overall growth rate of 5.59% from 2024 to 2028.
Future trends to watch for include advancements in processing technologies, increased consumer demand for organic and antibiotic-free poultry, and potential regulatory changes impacting production standards. Environmental concerns and sustainability practices will also play crucial roles in shaping the industry's future.
