Global growth in meat production to slow down
According to the global outlook just published by FAO and OECD, world meat production is expected to show a smaller rate of growth of 1.6% per annum in the 2014 to 2023 period compared with the previous 10 years.
According to the global outlook just published by FAO and OECD, world meat production is expected to show a smaller rate of growth of 1.6% per annum in the 2014 to 2023 period compared with the previous 10 years. Projections show a somewhat smaller increase, of 1.1% per annum, in pork production which would be lower than the 2.0% per annum historical growth. Demand forces are set to place poultry as the largest meat sector, overtaking pork by 2020 helped also by its lower land requirement and shorter production cycles
Likewise, global meat consumption is also likely to increase by 2023, to 36.3kg in retail weight per capita with growth concentrated on developing countries especially in Asia. Given ongoing population growth per capita pig meat consumption is expected to increase only marginally to 12.7 kg retail weight by 2023. Total global meat and pig meat trade is also likely to grow at a slower rate between 2014 and 2023 compared with the last decade.
China will continue to be a key player in the global pig meat market. However the rate of growth in production is projected to slow down to 1% per annum compared with 2.5% per annum in the 2004 to 2013 period. The rate of growth in consumption will also slow down to nearer 1% per annum as Chinese consumption approaches saturation levels and consumers diversify into other protein sources. However, the report still expects Chinese pig meat imports to continue to increase sharply to 1.4 million tonnes cwe by 2023 which would make it the largest global importer. United States production growth is also projected to slow down to less than 0.8% per annum with an even smaller increase projected for the EU.
The full report can be downloaded by clicking here