Forecasts for the global pork industry (2024 - 2033)

July 31, 2024/ 333 Latin America with data from OECD – FAO Agricultural Outlook 2024-2033.
https://www.oecd.org/

02-Aug-2024 (1 years 10 months 5 days ago)

Global forecasts

World pork production is projected to reach 131.1 million tons (Mt) in 2033, a growth of 7.6% over the 2021-2023 estimated average.

As for international trade, imports and exports are expected to weaken globally over the next 10 years, falling by 5.8% and 6.4%, respectively.

Apparent consumption would be 131 Mt in 2033, reflecting a 7.7% growth compared to the 2021-2023 average (121.7 Mt).

Regional growth

In terms of pork production, the highest growth in 2033 will be observed in Asia (4.8%), Latin America (3.8%), Africa (3.1%), and North America (2.6%), while Europe is expected to decrease by 3.1%.

<p>Regional projections for pork production, imports, exports, and consumption for 2033 - variations with respect to the 2021 - 2023 average. Prepared by 333 Latin America with data from OECD - FAO Agricultural Outlook 2024 - 2033.</p>

Imports are expected to fall sharply in Asia (-18.7%) and Europe (-15%), while they are expected to grow in Latin America, Africa, and Oceania by 9.3%, 93.8%, and 28.6%, respectively.

Exports from Europe and Latin America are expected to fall by 14.7% and 12.6%, respectively, in the period under analysis, while North America, with 4.83 Mt, is expected to grow by 1.6% in 2033.

Latin America (20.2 %), Asia (8.5 %), and North America (8.2 %) would be the most prominent regions in terms of apparent consumption growth rates, while for Europe, consumption is expected to fall by 2.4 % by 2033.