In 2023, Norway's meat processing production value stood at 2.88 billion Euros. Forecasted data for the period from 2024 to 2028 indicates a gradual decline in production value. Specifically, the production value is expected to decrease from 2.84 billion Euros in 2024 to 2.68 billion Euros by 2028. The year-on-year variations show a consistent decline of around 1.4% per year.
The last two years, 2023-2025, illustrate a clear downward trend with a total decrease of approximately 2.8% from 2.88 billion Euros to 2.8 billion Euros. Looking further, the Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 is anticipated to average around -1.4% annually.
Future trends to watch for include potential shifts in consumer demand towards plant-based proteins, environmental regulations impacting meat processing, and potential innovations in meat processing technology. These factors could significantly influence the market dynamics and either mitigate or exacerbate the declining trend.
