The forecasted beef meat market size volume per capita in Nigeria shows a declining trend from 2024 to 2028. In 2023, the actual per capita consumption stood at 1.64 kilograms. The year-on-year variations indicate a consistent decrease:
2024: -3.66%
2025: -3.17%
2026: -2.61%
2027: -3.36%
2028: -2.78%
The compound annual growth rate (CAGR) over the five years from 2024 to 2028 is -3.12%, showing an overall declining trend in beef consumption per capita.
Future trends to watch for include changes in dietary preferences, economic factors impacting household purchasing power, and potential government policies affecting the meat industry. Additionally, the development and adoption of alternative protein sources could further impact the beef market.