The worth of the meat industry is now growing at a fast pace worldwide. Let’s take a look at the most recent statistics and find out more about this fast-growing industry responsible for over five million jobs and over $250 billion in wages in the US.
How much is the meat industry worth?
As reported by IMARC Group, the global meat market was valued at $1.33 trillion in 2021. According to their projections, this market could grow at a CAGR of 3.1% during the 2022–2027 period.
Exciting Stats and Facts About the Meat Industry.
With over 70 billion land animals slaughtered each year, there are many exciting stats and facts about the meat industry that affect its value and worth.
Global meat market revenue amounts to roughly $1.2 trillion in 2022.
(Statista)
Fresh meat accounts for $866.9 billion, processed meat for $319.5 billion, and meat substitutes for $8.97 billion in revenue.
Global meat production has tripled in the last 50 years.
(Our World in Data) (Worldometer)
The global meat demand surpassed the growth of the global population, which more than doubled between 1970 and 2020 (from 3.7 billion to nearly 7.8 billion), leading to the annual production of a whopping 340 million tons in recent years.
Global meat production amounted to 328 million metric tons in 2020.
(Statista)
This represents an increase of over 10 million metric tons over the course of four years (from 317.7 million metric tons in 2016 to 328 million metric tons in 2020).
Animal husbandry has a disastrous impact on climate change.
(Climate Nexus) (Oxford Academic)
A third of biodiversity loss is linked to animal agriculture due to deforestation, pollution, and other factors related to this field. Additionally, methane and nitrous oxide produced by enteric fermentation and manure has a 28 higher impact on global warming than carbon dioxide.
An average individual consumes 7,000 animals in their lifetime.
(USA TODAY)
This translates to 4,500 fish, 2,400 chickens, 80 turkeys, 30 sheep, 27 pigs, and 11 cows.
China alone consumed 28% of the world’s meat in 2021.
(Reuters) (Time)
This made it the world’s largest meat consumer at that time.
Australia was among the top meat-eaters in the world in 2019.
(Sydney University)
In 2019, Australians consumed 89.6 kg (197.5 lbs) of meat per capita, which is a slight increase from 88.2 kg (194.4 lbs) per capita in 2000. The most consumed meat in Australia was, expectedly, poultry.
Poultry is the most consumed type of meat in the world.
(Statista) (The Cold Wire)
Chicken meat consumption (and thereby the demand for it, too) has been steadily growing since 1960, reaching 131.2 million tons in 2020.
Brazil was the world’s greatest beef exporter in 2020, its beef export amounting to $7.4 billion.
(Statista)
Australia and the US rounded the list of top three exporters, their beef export values amounting to $6.9 billion and $6.6 billion, respectively.
Global per-capita meat consumption is projected to reach 43.7 kg in 2030.
(Statista)
Experts predict a sharp increase from 2021 (42.4 kg per capita) to 2023 (43.4 kg per capita) and then a steady, gradual growth until 2030.
Broiler chicken was the most consumed meat in the US in 2020 (96.4 lbs per capita).
(Statista)
Beef, pork, and turkey followed with 58.8 lbs, 51.3 lbs, and 15.8 lbs per capita, respectively. Other chicken meats, lamb and mutton, and veal were the least consumed meat in the US in 2020, with 1.4 lbs, 1.1 lbs, and 0.2 lbs per capita, respectively.
US poultry consumption increased by a staggering 79.6 kg (about 175 lbs) from 1960 to 2021.
(National Chicken Council)
It increased from 34.2 kg (about 75 lbs) per capita in 1960 to 113.3 kg (a little under 250 lbs) per capita in 2021.
Poultry accounted for 38% global processed meat market share in 2016.
(Statista)
Red meat closely followed with 32.6%, while seafood accounted for 24.1%. Other types of meat combined amounted to 5.1% of the market share.
The global meat industry market value amounted to $838 billion in 2020.
(Statista)
The market value is projected to increase to over $1 trillion by 2025.
The US generated the highest revenue from meat products and sausages in the world in 2021 (about $40 billion).
(Statista)
Germany followed with $28.9 billion, while Russia, France, and Brazil generated $17.5 billion, $15.8 billion, and $12.4 billion, respectively.
Conclusion
Despite the increasing transition to plant-based diets, the meat industry still seems to be strong and, according to expert projections, will continue to thrive and expand.
Its growth is determined by several key factors, including the gradual eradication of poverty and the growing standards of living that brought meat to the dining tables of many.
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