The 2024 forecast for horse meat slaughtering in the Philippines indicates a steady decline over the next five years. The number of heads is expected to decrease from 6.48 thousand in 2024 to 6.41 thousand by 2028. Given that 2023 recorded an actual value, it is essential to note that from 2024 onwards, the data is forecasted. Year-on-year variation shows minimal decreases, with the trend reflecting a slight reduction per year. Over the last two years, this trend stabilized with a minor drop. The Compound Annual Growth Rate (CAGR) over the next five years suggests a small average yearly decrease.
Future trends to watch include potential regulatory changes, shifts in consumer preferences related to meat consumption, and broader economic factors that could impact meat production and demand. Monitoring these elements will be crucial to assess whether the decline continues or stabilizes.
