U.S. Poultry Consumption Growth to Accelerate
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According to market research conducted by IndexBox, the U.S. poultry market showed steady growth over the last few years. It expanded from X billion USD in 2008 to X billion USD in 2015, rising with a CAGR of +X%. In physical terms, the U.S. poultry market increased to X billion pounds in 2015. U.S. growth in poultry consumption is expected to accelerate to +X% (currently +X%) in the medium term. Consumption growth will be supported by rising popularity of healthy lifestyle and increasing disposable incomes.
Since the U.S. is one of the largest poultry producing nations in the world, imports are negligible. The efficiency and scale of the industry in the U.S. poses pricing difficulties for foreign producers competing on the U.S. market. Net US exports of poultry showed a positive trend since 2007. In 2014, this industry ran a significant trade surplus of X billion USD, approximately X% of gross exports. In 2014, the main destinations of U.S. poultry exports were Mexico (X%), and, distantly, Canada (X%), China (X%) and Angola (X%).
U.S. exports will be propelled forward by steady supplies, pressurizing prices, as well as lower prices compared to other animal proteins. The main constraints of U.S. exports are strengthening positions of global competitors owing to weak euro and Brazilian real, as well as lower oil prices and modest economic growth in developing countries.
In August 2014, the Russian Government announced a one-year ban on agricultural product imports from several countries, including the U.S. In 2015, the embargo was prolonged for one year more. Russia had been a large market for U.S. broiler exports in 2014. On a year-to-date basis through June 2014, X% of U.S. broiler shipments had been sent to Russia. The loss of exports to Russia in December (from X million pounds in December 2013) was countered by continuing strength in markets in a number of Asian, Former Soviet Union, Middle Eastern, and Sub-Saharan African countries.
Do you want to know more about the U.S. poultry market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- poultry market share
- poultry prices
- poultry industry
- poultry sales
- poultry market forecast
- poultry price forecast
- key poultry producers
Source: IndexBox AI Platform
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