The beef meat market in China has shown a consistent growth trajectory from 2014 to 2023, reaching a volume of 8.33 million metric tons in 2023. The sector exhibited a notable upward trend particularly between 2014 and 2018 with a peak growth rate of 8.24% in 2018. Despite minor contractions in 2019 and 2020, the market showcased resilience and a year-on-year growth of 1.26% in 2023.
The Compound Annual Growth Rate (CAGR) over the last five years until 2023 was relatively modest at 0.84%. Forecasts suggest continued expansion with a projected CAGR of 1% from 2024 to 2028, attaining an estimated market volume of 8.87 million metric tons by 2028, representing an overall growth of 5.08% over this period.
Future trends to watch for:
• Increased consumer demand for premium and organic beef
• Impact of government policies on food security and livestock farming
• Influence of global trade relations and tariff adjustments
• Rising health consciousness influencing dietary preferences
• Technological advancements in cattle farming efficiency and sustainability
