From 2013, pork consumption at farm gate in China showed moderate growth, peaking in 2014 at 57.25 million metric tons. However, from 2015 onwards, consumption exhibited a generally downward trajectory, with significant declines from 2019 through to 2023. In 2023, pork consumption stood at 27.22 million metric tons, representing a substantial 15.58% year-on-year decrease and marking a sharp decline compared to previous years. The compound annual growth rate (CAGR) over the last five years was -13.14%, indicating consistent annual decreases.
Looking into the future, forecasts predict a dramatic decline in consumption, with a foreseen -33.72% 5-year CAGR leading to a consumption value of only 2.85 million metric tons by 2028. The overall 5-year forecasted growth rate signifies a drastic reduction of 87.21%.
Future trends to watch for:
- Observe policy changes or potential government interventions to manage supply shortages or outbreaks that could impact consumption rates.
- Analyze shifts in consumer preferences towards alternative proteins which may further influence demand trends.
- Monitor market responses to emerging sustainability and health trends driving reduced pork consumption.
