In 2023, the production value of the meat processing sector in Spain stood at 35.05 billion Euros. From 2013 to 2023, the sector exhibited a steady growth trend, with a few fluctuations along the way. Notable increases in production value occurred in 2015 (10.07%) and 2019 (12.86%). However, there were slight declines in 2016 (-1.16%) and 2020 (-1.17%). Looking at the most recent years, the sector maintained positive growth with 2022 seeing a 4.91% increase and 2023 a 4.64% rise. The average annual growth rate (CAGR) over the last five years stands at 5.55%.
Going forward, the forecasted data suggests the sector will continue its upward trajectory, albeit at a slightly lower growth rate. The forecasted CAGR for the 2024-2028 period is 3.09%, with a projected overall growth of 16.43% by 2028, reaching 42.6 billion Euros.
Future trends to watch for include:
- Technological advancements in meat processing and automation.
- Shifts in consumer preferences towards plant-based or alternative meats.
- Impact of regulatory changes and sustainability initiatives on production processes.
- Market dynamics driven by export opportunities and global trade agreements.
