The forecast for U.S. veal and beef production from 2024 to 2028 indicates a steady growth trend, with an increase from 11.94 million metric tons in 2024 to 12.0 million metric tons in 2028. In 2023, production was reported slightly below these levels. The year-on-year growth is marginal but positive, with consistent increases hovering around 0.1% to 0.2% annually. The compounded annual growth rate (CAGR) over the five-year forecast period is anticipated at approximately 0.1%.
Future trends to watch for include:
- Potential impacts of climate change on beef production efficiency and yields.
- Shifts in consumer preferences towards plant-based or alternative proteins.
- Regulatory changes affecting cattle farming and production practices.
- Technological advancements in animal husbandry and supply chain efficiencies.
