In 2023, the meat market in Australia stood at 112.00 kilograms per capita. Based on the forecast data, the per capita meat consumption is expected to slightly decrease from 111.52 kilograms in 2024 to 109.73 kilograms by 2028. Observing the annual variations, each year’s decline is relatively marginal. The year-on-year percentage decrease is less than 0.5% annually. Over the past two years, a consistent decline indicates a diminishing trend. The Compound Annual Growth Rate (CAGR) over the five-year forecast period is projected to be approximately -0.4%.
Future trends to watch include the growing consumer shift towards plant-based diets and increased concerns about environmental impact and health, which could further influence meat consumption rates. Additionally, price fluctuations and advancements in meat alternatives could also play a significant role in shaping the market dynamics moving forward.