The pork market in China has shown varied trends over the past decade, with the volume increasing from 52.21 million metric tons in 2014 to 57.04 million metric tons in 2023. The highest year-on-year increase was observed in 2021 at 5.79%, mainly recovering from a dip in 2020. The annual growth rate from 2016 to 2023 is relatively modest, indicated by a 2023 year-on-year growth of 0.48%. The CAGR for the past five years stands at 0.41%, emphasizing steady growth.
Future trends to watch for include:
- A projected five-year CAGR of 0.39%, suggesting continued but slow growth.
- By 2028, the market size is expected to reach 58.46 million metric tons, an overall 1.95% increase from 2023. Monitoring factors such as consumer demand, import-export regulations, and production efficiencies will be crucial in understanding the market dynamics.
