Market Trends of Livestock And Meat Industry
Increasing Demand for Edible Meat
Meat consumption encompasses the human consumption of beef, veal, pig, poultry, and sheep. Regions with cold climates, including the European Union, Russia, and North America, demonstrate higher edible meat consumption patterns. This increased consumption is attributed to meat's ability to provide energy and sustenance during winter months. The consumption levels are influenced by factors such as living standards, livestock production capacity, and consumer prices, while production is characterized by high costs and elevated output prices. According to the Organization for Economic Cooperation and Development (OECD), Argentina led global beef and veal consumption in 2023 with 30.8 kg retail weight per capita, followed by Israel at 25.8 kg and the United States at 25.2 kg retail weight.
The high nutritional density of meat compared to plant-based foods drives consumption patterns. According to the Beef Cattle Research Council, beef provides complete protein and essential nutrients like iron, zinc, and vitamin B12, which are crucial throughout life stages and less abundant in plant-based alternatives. Moreover, the rising global demand for edible meat has led to increased meat imports worldwide. The United States recorded beef imports of 629,080 metric tons in 2023, representing a 2.5% increase from the previous year, as reported by the ITC Trade Map. International trade agreements continue to facilitate meat consumption across borders. A notable example is the 2023 Free Trade Agreement between Australia and the United Kingdom, which eliminated import tariffs on Australian sheep meat entering the UK market.
Asia-Pacific is the Fastest Growing Market
The Asia-Pacific region's expanding meat production is driving significant growth in the global livestock and meat industry, with China maintaining its position as the world's largest meat producer, followed by the United States, the European Union, Brazil, and Russia. According to FAOSTAT, China's pork production reached 55.4 million metric tons in 2022, representing 45.2% of global pork production. As the industry evolves, the global livestock sector continues to strengthen through increasing consolidation and integration of production units, particularly in developing markets.
Rapid urbanization and population growth in Asia-Pacific countries, particularly China, India, and Indonesia, have increased the demand for meat products, with China emerging as a dominant force in the global meat trade. With a population exceeding 1.4 billion, China is the world's largest meat importer, with imports valued at USD 26.7 million, accounting for 16.5% of global meat import value, according to ITC Trade Map. India has established itself as the eighth-largest meat producer globally, with the poultry sector dominating domestic production. According to the Basic Animal Husbandry Statistics - 2024, India's meat production composition includes poultry at 48.96%, buffalo meat at 18.09%, sheep and goat at 11.13%, and cattle at 2.60%.
