FAO projects meat markets for next decade

The outlook for the global meat market remains largely positive over the next 10 years, with feed grain prices set to remain low for the projection period restoring profitability in a sector that had been operating in an environment of particularly high and volatile feed costs over most of the past decade, according to the Food and Agriculture Organization of the United Nations (FAO). 

In its Agricultural Outlook 2015 report, the FAO projected production would expand, as a result of increased profitability, particularly in the pork and poultry sectors, as well as in regions such as the Americas where feed grains are used intensively to produce meat.

However, this year’s Outlook is projecting weaker economic growth for both developed and developing countries, somewhat limiting consumption growth.

Global meat production rose by almost 20 percent over the last decade, led by growth in poultry and pork. Over the next decade, global meat production will expand at a slower rate, and in 2024 will be 17 percent higher than the base period (2012-14).

Developing countries are projected to account for the vast majority of the total increase through a more intensive use of protein meal in feed rations in the region.

Poultry meat will capture more than half of the additional meat produced globally by 2024, compared to the base period. 

Global annual meat consumption per capita is expected to reach 35.5 kg retail weight equivalent (r.w.e.) by 2024, an increase of 1.6 kg compared to the base period.

This additional consumption will consist mainly of poultry. Globally, per capita consumption of pork and bovine meat is expected to remain stable at levels comparable to the base period.