In nominal terms, U.S. shipments of fresh and frozen meat and poultry products are forecast to grow 1.7% annually through 2022, while processed meat and poultry shipments are projected to see 2.4% annual gains over that span, according to “Meat & Poultry Products: United States,” a report released by Freedonia Focus Reports, Cleveland, Ohio.
Advances will be spurred by rising domestic consumption, driven by population growth and increasing disposable personal income levels. Further shipment gains will be aided by favorable global macroeconomic trends and rising demand for meat and poultry in export markets. Increased levels of consumer spending and a trend toward convenience food will drive sales of higher-cost, value-added meat and poultry products. However, ongoing trade disputes and the establishment of tariffs will restrain export opportunities for U.S. meat and poultry producers.