The European poultry meat processing industry has shown a steady growth from 2014 to 2023, reaching a volume of 738 thousand metric tons in 2023. Over this period, there has been a consistent increase, with the average annual growth rate (CAGR) from 2014 to 2023 being 1.09%. Notable year-on-year fluctuations occurred in 2016 with an 11.02% rise and in 2018 with a slight decrease of -1.13%. The past two years have seen modest annual increments: 0.97% in 2022 and 0.96% in 2023.
Looking ahead, the forecasted data points to a continuation of this gradual growth, with an expected volume of 770 thousand metric tons by 2028. The projected 5-year CAGR is relatively lower at 0.66%, reflecting a more tempered pace compared to the historical CAGR, but still pointing towards consistent expansion.
- Steady increase in volume up to 2023, reaching 738 thousand metric tons.
- Historical CAGR from 2014 to 2023 stands at 1.09%.
- Forecasted volume of 770 thousand metric tons by 2028 with a 5-year CAGR of 0.66%.
Future trends to watch for include advancements in processing technology, shifts in consumer preferences towards more sustainable and health-conscious options, and regulatory changes impacting production practices. These factors may influence market dynamics and potentially drive innovation and growth in the sector.
