Key Market Indicators
Chinese beef consumption is predicted to rise over the next five years. In 2021, consumption was 8.1 million metric tons and is expected to reach 8.7 million metric tons by 2026, representing an average annual growth rate of 1.1%. Since 2017, Chinese demand for beef has increased by 0.5% each year. China, Brazil, and Argentina are the top three global producers of beef, with China in second place in 2021 with 6 million metric tons. Production is forecast to grow at an average rate of 0.8% annually, rising from 6.0 million metric tons in 2021 to 6.3 million metric tons in 2026. Since 1966, Chinese beef production has increased by 1.7% each year.