Brazil will dominate the Global chicken market next year as well
In the upcoming year, Brazil is anticipated to retain its leading position in the global chicken market, beating other assumed leaders like the United States, the United Kingdom, Argentina, the European Union, and Belarus.
According to forecasts made by the US Department of Agriculture (USDA), global chicken exports are expected to increase by roughly 2.91% and reach a significant volume of at least 14 million tons.
The USDA’s forecast underscores Brazil’s impending dominance in this market, estimating its share to hover around 36% of the total global chicken exports.
Meanwhile, the United States, securing its position as the world’s second-largest chicken producer, is expected to contribute roughly 25% to the global market.
Examining recent trends, the USDA’s findings reveal that since 2019, the increase in chicken exports has been relatively modest, registering only a 7% uptick.
Surprisingly, among the 11 major exporting countries, four experienced a decline in their export volumes. Among the most notable declines were those observed in the United Kingdom, which was down 44%, in Argentina, which was down 40%, in the European Union (20%), and in Belarus, which was down about 14%.
On the other hand, exports of chicken increased significantly to nations like Turkey, Thailand, China, and Russia.
Even with the rising export volumes observed in these nations, Brazil is expected to increase its exports of chicken meat by an estimated 1.086 million tons over the next five years—a significant increase of 27.5%.
As such, it is projected that this increase will increase Brazil’s share of the world market for chicken exports by nearly 20% relative to 2019 data.
Looking ahead, this expected expansion in Brazil’s chicken exports reflects a significant trend in global market dynamics. The projections not only forecast a continued stronghold for Brazil but also underline the varying performances of different countries in this dynamic market landscape.
Brazil’s trajectory towards a strengthened position in global chicken exports signifies a noteworthy trend, showcasing the country’s strategic approach and capacity to significantly influence the dynamics of the international chicken market.
This anticipated growth raises intriguing questions about the potential implications for the global chicken market, emphasizing the evolving nature of trade dynamics and the significant role played by various countries in shaping these developments.
As such, stakeholders and market observers will closely monitor Brazil’s trajectory and its impact on the broader landscape of the global chicken trade.
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