The beef meat market size in South Africa exhibited variability over the past decade, peaking at 1040 thousand metric tons in 2016 and dropping significantly to 808.42 thousand metric tons in 2020. As of 2023, the market stands at 971 thousand metric tons, showing a slight year-on-year decline of 0.1%. Over the last five years, the market has experienced an average annual variation rate (CAGR) of approximately 0.083%. Looking into the future, the market is forecasted to decline, reaching 966.63 thousand metric tons by 2028, with a predicted CAGR of -0.07% over the next five years.
Trends to watch for:
- Shifts in consumer demand for beef and alternative protein sources.
- Impact of policy changes on beef production and import/export dynamics.
- Advances in beef production technologies and efficiencies.
- Market and climate factors affecting beef supply chains.
