From 2013 to 2023, beef sales in the US have shown fluctuating growth. Significant year-on-year variations include an 11.1% increase in 2014 and a 12.51% drop in 2016. Recent years from 2019 to 2023 have seen more stable growth, with the market experiencing a minor year-on-year variation of approximately 1.34% in 2023, positioning the market at $60.042 billion in 2023. The five-year CAGR from 2019 to 2023 stood at around 1.44%.
Looking into the forecast, beef sales from 2024 to 2028 are expected to gradually rise, reaching $63.855 billion in 2028 with an estimated 5-year CAGR of 0.95%. The overall growth rate over this period is forecasted at 4.85%.
Future trends to watch for include increased consumer demand for sustainably sourced beef, potential price fluctuations due to market and environmental factors, and the impact of alternative proteins on beef consumption. These aspects could significantly influence market dynamics and demand patterns.
