From 2014 to 2023, Mexico's beef meat production demonstrated a steady upward trajectory with fluctuating growth rates, starting at 1.83 million metric tons in 2014 and reaching 2.02 million metric tons in 2023. The year-on-year variation in 2023 stood at 0.6%, while the compound annual growth rate (CAGR) over the past five years was 0.41%. Highlights include notable growth in 2017 (2.55%) and significant recovery in 2021 (5.9%) following a dip in 2020 (-4.42%). The forecasted data for 2024-2028 suggest a continued but modest growth rate, with a five-year CAGR of 0.46% and a total growth rate of 2.32% by 2028.
Future trends to watch for:
- Potential impacts of climate change on livestock and beef production.
- Expansion of sustainable farming practices and their influence on production rates.
- Possible shifts in domestic and international demand influenced by economic and dietary changes.
- Advancements in technology and their potential to optimize beef production efficiency.