The poultry meat slaughtering industry in North America experienced a generally upward trend from 2013 to 2023, with a few fluctuations. Notably, there was a significant dip in 2020 due to unforeseen disruptions, but the industry rebounded in 2021 with an 8.1% year-on-year increase. As of 2023, the industry stood at 10.625 billion units, showing a modest year-on-year growth rate of 0.65%. Over the last five years, the compound annual growth rate (CAGR) was 0.81%, indicating consistent but slow growth.
In the upcoming forecast period from 2024 to 2028, the industry is expected to maintain a steady growth trajectory with an anticipated 5-year CAGR of 0.52% and an overall growth rate of 2.61%. This suggests a slightly slower yet positive growth pattern.
Future trends to watch for include:
- The impact of technological advancements in slaughtering processes on productivity and efficiency.
- Changes in consumer preferences towards alternative protein sources and their effects on the poultry market.
- Regulatory shifts related to animal welfare and food safety standards.
