In 2024, the forecast for pork consumption at the farm gate in the US is set at 10.4 million metric tons, marking an increase from the 2023 level of approximately 10.3 million metric tons. The year-on-year growth rate from 2023 to 2024 is approximately 1%. Looking forward, a consistent annual growth pattern can be observed, with an estimated growth rate of 0.87% from 2024 to 2028. Over the five-year forecast period, the compound annual growth rate (CAGR) is expected to be around 0.88%.
Future trends to watch for in the US pork market include:
- Potential shifts in consumer preferences towards plant-based diets, which might impact pork consumption levels.
- Changes in trade policies that could affect the supply chain and prices.
- Technological advancements in agriculture that could lead to increased efficiency in pork production.
- Environmental and sustainability considerations influencing production practices.