Affordability of meat for global consumers and the need to sustain investment capacity for livestock farmers
Authors:
Open Access
- 1 April 2023
- journal article
- research article
- Published by Oxford University Press (OUP) in Animal Frontiers
- Vol. 13 (2) , 45-60
Abstract
It is estimated that global livestock production accounts for 40% of the total agricultural GDP ( Salmon et al., 2020). Using the World Bank/FAOStat share of 4.3% of agricultural value added in global GDP in 2021, and IMF’s forecast of the global economy being USD 104 trillion in 2022 (current USD), this makes the global livestock sector a USD 1.8 trillion industry in 2022, of which meat comprises around two-thirds (dairy and eggs the other third) (World Bank; IMF, 2022). In terms of final consumer expenditure, animal-sourced foods including fish cost 7.0 trillion 2018 purchasing-power-parity-adjusted (PPP) USD on the global retail counter, or around 12% of the world’s total (value added of restaurants not included; World Bank, 2022; GOALSciences, 2023).Keywords
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