Meat And Poultry Market

The article provides a comprehensive analysis of the global meat and poultry market, projecting a consistent upward trend in consumption, production, imports, exports, and prices. Key findings include China leading in consumption, Brazil and the United States as top producers and exporters, and beef as the highest value product. The data spans from 2012 to 2022, with projections made until 2030.

Market Forecast

Driven by increasing demand for meat and poultry worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 400M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $2,115.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Meat And Poultry

In 2022, global meat and poultry consumption reached 358M tons, stabilizing at the previous year's figure. The total consumption volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the consumption volume increased by 5.1% against the previous year. Over the period under review, global consumption attained the maximum volume in 2022 and is expected to retain growth in years to come.

The global meat and poultry market revenue contracted modestly to $1,630.7B in 2022, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Global consumption peaked at $1,652.6B in 2021, and then dropped modestly in the following year.

Consumption By Country

China (99M tons) constituted the country with the largest volume of meat and poultry consumption, comprising approx. 28% of total volume. Moreover, meat and poultry consumption in China exceeded the figures recorded by the second-largest consumer, the United States (42M tons), twofold. The third position in this ranking was taken by Brazil (23M tons), with a 6.4% share.

In China, meat and poultry consumption increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+1.3% per year) and Brazil (+1.7% per year).

In value terms, China ($521.7B) led the market, alone. The second position in the ranking was held by the United States ($149.1B). It was followed by Brazil.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +3.1%. In the other countries, the average annual rates were as follows: the United States (+2.1% per year) and Brazil (+0.2% per year).

The countries with the highest levels of meat and poultry per capita consumption in 2022 were the United States (127 kg per person), Argentina (120 kg per person) and Spain (114 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by India (with a CAGR of +2.9%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

The products with the highest volumes of consumption in 2022 were chicken meat (122M tons), pork (122M tons) and beef (cattle meat) (75M tons), with a combined 89% share of global consumption. Duck and goose meat, lamb and sheep meat, goat meat, turkey meat, meat of camels and other animals, horse, mule and donkey meat and rabbit or hare meat lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the biggest increases were recorded for duck and goose meat (with a CAGR of +3.8%), while consumption for the other products experienced more modest paces of growth.

In value terms, pork ($480.1B), beef (cattle meat) ($421.3B) and chicken meat ($263.2B) were the products with the highest levels of market value in 2022, with a combined 85% share of the global market. Lamb and sheep meat, goat meat, duck and goose meat, meat of camels and other animals, turkey meat, horse, mule and donkey meat and rabbit or hare meat lagged somewhat behind, together comprising a further 15%.

In terms of the main consumed products, lamb and sheep meat, with a CAGR of +3.4%, saw the highest rates of growth with regard to market size over the period under review, while market for the other products experienced more modest paces of growth.

Production

World Production of Meat And Poultry

Global meat and poultry production amounted to 360M tons in 2022, growing by 1.6% compared with the year before. The total output volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 4.7% against the previous year. Over the period under review, global production attained the peak volume in 2022 and is expected to retain growth in the immediate term. The general positive trend in terms output was largely conditioned by slight growth of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, meat and poultry production fell modestly to $1,404.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 31% against the previous year. As a result, production attained the peak level of $1,732.9B. From 2015 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (93M tons), the United States (48M tons) and Brazil (30M tons), with a combined 47% share of global production. Russia, India, Mexico, Spain, Germany and Argentina lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +4.2%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

The products with the highest volumes of production in 2022 were chicken meat (124M tons), pork (122M tons) and beef (cattle meat) (76M tons), with a combined 89% share of global production. Duck and goose meat, lamb and sheep meat, goat meat, turkey meat, meat of camels and other animals, horse, mule and donkey meat and rabbit or hare meat lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main produced products, was attained by duck and goose meat (with a CAGR of +3.8%), while production for the other products experienced more modest paces of growth.

In value terms, pork ($473.2B), beef (cattle meat) ($442.4B) and chicken meat ($203.2B) constituted the products with the highest levels of production in 2022, together accounting for 83% of global production. Lamb and sheep meat, goat meat, duck and goose meat, meat of camels and other animals, turkey meat, horse, mule and donkey meat and rabbit or hare meat lagged somewhat behind, together accounting for a further 17%.

In terms of the main produced products, horse, mule and donkey meat, with a CAGR of +5.1%, saw the highest rates of growth with regard to market size over the period under review, while production for the other products experienced more modest paces of growth.

Yield

In 2022, the global average meat and poultry yield reduced slightly to 4.4 kg per head, almost unchanged from the year before. Over the period under review, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the yield increased by 3.9% against the previous year. The global yield peaked at 4.6 kg per head in 2013; however, from 2014 to 2022, the yield remained at a lower figure.

Producing Animals

In 2022, approx. 83B heads of animals slaughtered for meat and poultry production worldwide; with an increase of 2% on the previous year's figure. This number increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 4.4% against the previous year. Over the period under review, this number attained the maximum level in 2022 and is expected to retain growth in the near future.

Imports

World Imports of Meat And Poultry

After six years of growth, purchases abroad of meat and poultry decreased by -3.9% to 40M tons in 2022. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 4.3% against the previous year. As a result, imports reached the peak of 42M tons, and then dropped modestly in the following year.

In value terms, meat and poultry imports expanded notably to $145.9B in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 11%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

In 2022, China (6.1M tons), distantly followed by Japan (2.2M tons), Mexico (2.1M tons), the United States (1.9M tons) and Germany (1.8M tons) represented the main importers of meat and poultry, together making up 35% of total imports. The Netherlands (1.5M tons), Italy (1.5M tons), South Korea (1.3M tons), France (1.3M tons), the UK (1.1M tons), the Philippines (1M tons), Poland (0.8M tons) and the United Arab Emirates (0.8M tons) took a little share of total imports.

China was also the fastest-growing in terms of the meat and poultry imports, with a CAGR of +17.4% from 2012 to 2022. At the same time, the Philippines (+14.3%), South Korea (+4.9%), the United States (+4.8%), the United Arab Emirates (+4.2%), Mexico (+4.1%), Poland (+2.9%), Japan (+2.1%) and the Netherlands (+1.3%) displayed positive paces of growth. The UK, France, Italy and Germany experienced a relatively flat trend pattern. From 2012 to 2022, the share of China and the Philippines increased by +12 and +1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($27.9B) constitutes the largest market for imported meat and poultry worldwide, comprising 19% of global imports. The second position in the ranking was taken by the United States ($11.7B), with an 8% share of global imports. It was followed by Japan, with a 6.7% share.

In China, meat and poultry imports expanded at an average annual rate of +26.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+8.0% per year) and Japan (+0.5% per year).

Imports By Type

The products with the highest levels of meat and poultry imports in 2022 were chicken meat (14M tons), pork (13M tons) and beef (cattle meat) (10M tons), together amounting to 94% of total import. The following types - lamb and sheep meat (1.2M tons) and turkey meat (0.8M tons) - together made up 5.1% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading imported products, was attained by beef (cattle meat) (with a CAGR of +3.2%), while imports for the other products experienced more modest paces of growth.

In value terms, the largest types of imported meat and poultry were beef (cattle meat) ($67.1B), pork ($34.5B) and chicken meat ($29.6B), together comprising 90% of global imports.

Beef (cattle meat), with a CAGR of +5.8%, saw the highest growth rate of the value of imports, among the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

In 2022, the average meat and poultry import price amounted to $3,655 per ton, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was lamb and sheep meat ($7,600 per ton), while the price for chicken meat ($2,061 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by goat meat (+3.0%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average meat and poultry import price amounted to $3,655 per ton, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($6,295 per ton), while the Philippines ($1,813 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Meat And Poultry

In 2022, overseas shipments of meat and poultry decreased by -1.6% to 42M tons for the first time since 2015, thus ending a six-year rising trend. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2019 when exports increased by 5.5%. Over the period under review, the global exports reached the maximum at 43M tons in 2021, and then fell slightly in the following year.

In value terms, meat and poultry exports rose significantly to $149.5B in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 14% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

Brazil (7.4M tons) and the United States (6.9M tons) were the main exporters of meat and poultry in 2022, finishing at near 18% and 16% of total exports, respectively. The Netherlands (2.9M tons) held the next position in the ranking, followed by Spain (2.6M tons), Poland (2.3M tons) and Germany (2.2M tons). All these countries together held approx. 24% share of total exports. Canada (1.6M tons), Australia (1.5M tons), Belgium (1.3M tons), Denmark (1.2M tons), France (1.1M tons), India (1.1M tons) and New Zealand (0.9M tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +7.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest meat and poultry supplying countries worldwide were Brazil ($23.1B), the United States ($21.1B) and Australia ($10.7B), with a combined 37% share of global exports. The Netherlands, Spain, Poland, Germany, Canada, New Zealand, France, Belgium, Denmark and India lagged somewhat behind, together comprising a further 40%.

Among the main exporting countries, Poland, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

The exports of the three major types of meat and poultry, namely chicken meat, pork and beef (cattle meat), represented more than two-thirds of total export. Lamb and sheep meat (1.2M tons) and turkey meat (0.9M tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for beef (cattle meat) (with a CAGR of +3.3%), while shipments for the other products experienced more modest paces of growth.

In value terms, beef (cattle meat) ($68.5B) remains the largest type of meat and poultry supplied worldwide, comprising 46% of global exports. The second position in the ranking was held by pork ($34.1B), with a 23% share of global exports. It was followed by chicken meat, with a 21% share.

For beef (cattle meat), exports increased at an average annual rate of +5.7% over the period from 2012-2022. For the other products, the average annual rates were as follows: pork (+1.1% per year) and chicken meat (+3.4% per year).

Export Prices By Type

The average meat and poultry export price stood at $3,524 per ton in 2022, picking up by 9.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2021 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was meat of camels and other animals ($7,415 per ton), while the average price for exports of chicken meat ($1,975 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by turkey meat (+3.6%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average meat and poultry export price amounted to $3,524 per ton, rising by 9.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($7,173 per ton), while Denmark ($2,731 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform