The U.S. beef meat market showed a steady growth trend from 2014 to 2023, marking a slight increase from 11.93 million metric tons in 2014 to 12.2 million metric tons in 2023. Despite some fluctuations, annual growth rates mostly remained positive. A notable drop occurred in 2015 (-5.39%), followed by consistent growth in the subsequent years with a few exceptions. The 5-year CAGR from 2019 to 2023 stands at 0.072%, reflecting a gradual increase in market volume.
Future forecasts suggest continued modest growth, with projected market sizes reaching 12.32 million metric tons by 2028. The 5-year CAGR from 2024 to 2028 is expected to be 0.13%, indicating steady but slow market expansion.
Future Trends to Watch For:
- Sustainability practices influencing beef production and consumption
- Technological advancements in beef farming and processing
- Consumer dietary shifts towards plant-based and alternative proteins
- Trade policies and international market dynamics impacting beef imports and exports
