Meat, Beef & Poultry Processing in the US
Over the five years to 2019, the Meat, Beef and Poultry Processing industry has contended with volatile meat prices resulting from drought, disease and volatile feed prices. Difficult agricultural conditions have resulted in imbalances of livestock supply, ultimately resulting in a boom and bust cycle in which supply has reached levels far above and far below demand within just five years. Such volatility has hindered the industry as the fluctuating price they receive for their products has made production output difficult to anticipate. Conversely, consumer demand has exhibited strong growth during the current period. Meat products represent a significant portion of consumer staples, and demand for industry products is reliant on the overall economy and household income. Over the past five years, consumers have fared well, along with the economy. Overall, industry revenue is anticipated to decrease during the current period. Over the five years to 2024, industry trends are forecast to reverse, with revenue projected to increase slightly. Both the agricultural price index and the price of feed are expected to exhibit stable growth relative to the previous period.
Operators in this industry slaughter animals, process the carcasses and package the meat into products and byproducts. The industry also purifies and refines animal fat, bones and meat scraps. Products are sold to other food manufacturers, renderers, grocery and meat wholesalers and retail traders. Enterprises that mainly cut and pack meats from purchased carcasses are also included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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