Analyzing the beef meat market in Kenya from 2014 to 2023, we observe steady growth in volume, reaching 603.0 Thousand Metric Tons in 2023, up from 468.0 Thousand Metric Tons in 2014. Annual growth rates varied, with noteworthy increases in 2015 (4.91%) and 2016 (5.3%), while 2019 and 2020 experienced declines due to market fluctuations and external factors, including a drop of 3.67% in 2020. However, a recovery trend resumed, reflected in a 6.72% increase in 2021 and a steady 1.34% rise in 2023.
Looking ahead, the beef meat market in Kenya is forecasted to continue growing, projected to reach 643.32 Thousand Metric Tons by 2028. This suggests a moderate but consistent growth trajectory with an anticipated 5-year CAGR of 1.02% and an overall 5.22% growth rate over the upcoming period.
Future trends to watch for include:
- Potential fluctuations in global meat prices affecting local market dynamics.
- Impact of climate change on beef production and supply chain sustainability.
- Shifts in consumer preferences towards alternative protein sources.
- Economic factors such as inflation and currency exchange rates influencing meat consumption trends.
