Bovine and sheepmeat to gain traction in the market for the next 10 years
Last year, overall world meat production increased by 1.25% to 323 million tonnes, according to data presented in the latest outlook released by Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organisation for the United Nations (FAO).
The US along with China, Argentina, India, Mexico, Russia and Turkey were the main contributors to this development. In the near future, analysts expect a decline in prices caused by an expansion in meat supply generated by the herd rebuilding cycle observed in some countries.
Global meat production is projected to be 15% higher in 2027 relative to the base period. Poultry meat remains the primary driver of the growth in total meat production, but in the coming decade, this growth will slow significantly compared to that of the previous one. Growth in global demand for animal protein in the next decade is projected to slow down for poultry and pig meat but increase for beef and sheep meat, according to the outlook.
Brazil and the United States are expected to cover a market share of 47% contributing nearly two-thirds of the expected increase in global meat exports over the projection period.
Global trade will still depend on factors such as animal disease outbreaks, sanitary restrictions and trade policies but also on consumer preferences and attitudes towards meat consumption.
For no, trends are evolving to free-range meat and antibiotic-free meat products but the future consumer preferences remain unknown.
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