The Brazilian meat market volume reached 21.22 million metric tons in 2023, growing 0.45% from 2022. Significant growth was observed in 2021 with a 21.05% increase, rebounding from a sharp 16.59% decline in 2020 due to market disruptions. Notably, the Compound Annual Growth Rate (CAGR) over the last five years averaged 0.4%, indicating steady recovery. Forecasts suggest continued moderate growth, with the market expected to reach 21.71 million metric tons by 2028, representing a forecasted 5-year CAGR of 0.37% and an overall growth of 1.84% over this period.
Future trends to watch for:
- Impact of economic instability on meat consumption
- Shifts towards plant-based alternatives and their effect on market shares
- Trade policies and international demand fluctuations
- Technological advancements in meat production