In its annual report on food product outlooks for 2024 released recently, the Food and Agriculture Organization (FAO) presents a diverse scenario in the livestock sector, predicting that poultry would lead global meat production with its consumption reaching 91 million tons by 2032, due to its affordability and health benefits.
As per the key findings of the FAO report, global animal protein production is expected to reach 371 million tons by 2024, driven by positive numbers in most regions, except Asia, where a notable decline is projected due to reduced pork processing in China.
The report says the most significant increase is anticipated in the poultry sector, specifically chicken meat, predicting a 0.8pc year-on-year growth, adding 1.1 million tons to reach a total of 146 million tons.
This surge, FAO says, is fueled by strong consumer demand as chicken remains affordable despite inflationary pressures worldwide, also pointing out challenges faced by the industry, including outbreaks of Highly Pathogenic Avian Influenza (HPAI).
It says stability in global chicken meat production is subject to significant local adjustments. Low production in the United States has been largely offset by increases in production in the European Union and the United Kingdom. Meanwhile, Brazil and China have kept their production forecasts unchanged, maintaining the balance in world supply, it adds.
The FAO and OECD estimate that total poultry meat consumption will reach 91 million tons by 2032, driven by its affordability, social perception as a healthy food, and lower fat content compared to other meats.
Compensatory adjustments among major producers and exporters will determine overall stability in global poultry meat production by 2024. China, Brazil, and the USA are expected to remain key players in the international market despite country-specific challenges, the report predicts.
FAO says beef production is set to rise by 0.7pc in 2024, adding 0.5 million tons, attributing this growth to the availability of cattle for processing. However, it sees no significant economic gains due to high beef prices.
As per the report, global pork production is projected to decrease by 0.9pc, resulting in a drop of approximately 1.2 million tons compared to 2023. This decline is primarily due to China’s efforts to control local oversupply and stabilize internal prices, it say.
The FAO’s report provides valuable insights for policymakers, producers, and consumers as they analyze the evolving scenario of meat production. -PR
