Pork consumption at the farm gate in Australia has shown a general upward trend from 602.4 thousand metric tons in 2013 to 805.34 thousand metric tons in 2023. The actual data indicates varying yearly growth rates, with notable increases in 2014 (10.46%) and 2017 (4.83%). Dips were seen in 2019 (-2.64%) and 2013 (-4.57%). The recent five-year CAGR stood at 1.55%, indicating steady but moderate growth. For the forecast period 2024-2028, consumption is expected to reach 880.84 thousand metric tons, with a five-year CAGR of 1.43% and overall growth rate of 7.34%.
Future trends to watch for include any potential shifts in consumer preferences, impacts of sustainability practices, changes in production technology, and economic factors affecting the livestock industry. Monitoring these variables will be crucial for accurate market predictions.
