Forecast: Beef Meat Market Size Volume in Thailand

The beef meat market in Thailand has seen a declining trend over the past decade, with the volume dropping from 160.0 thousand metric tons in 2014 to 90.0 thousand metric tons in 2023. The year-on-year variation has shown significant fluctuations, including notable drops of -25.62% in 2015 and -15.2% in 2018. The Compound Annual Growth Rate (CAGR) indicates a consistent decline, with the last five years averaging a -3.22% annual decrease.

In 2023, the market stood at 90.0 thousand metric tons, reflecting a -4.26% year-on-year decline. Over the next five years, the market is forecasted to continue its downward trend, with an expected CAGR of -3.79%, resulting in a forecasted volume of 70.95 thousand metric tons in 2028. This suggests a total decrease of -17.58% from 2023.

Future trends to watch for include potential shifts in consumer preferences, government policies impacting beef production, and global economic factors that could influence the market. Additionally, the rise of alternative protein sources and sustainability concerns may play pivotal roles in the market dynamics.

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