Production growth for meat is to average 2% annually worldwide over the next decade, restrained by the rising cost of inputs, according to the latest OECD Agricultural Outlook.

Analysing the outlook EBLEX said despite the recent fall in feed costs from the peak in 2012, the latest outlook indicates that feed costs are likely to remain relatively high through the next decade. Other input costs, including those associated with meeting more stringent requirements for the environment, animal welfare and health, are also expected to rise.

EBLEX says meat production is expected to grow at a higher rate than crop production over the next decade, with crop production expected to average growth of just 1% each year. This is primarily due to the increased demand for meat products in developing countries.

China is expected to account for roughly a quarter of overall growth, with most of that increase coming from pork. China has the world's highest per capital consumption of pork and recent domestic policies have aimed to increase self-sufficiency in pork production.

EBLEX also outlined that by the end of the decade, poultry production is expected to overtake swine production, as its short production cycle, high feed conversion ratio and low land requirements mean it has the lowest production costs of all meats. As soon as 2020, poultry is expected to become the largest global meat sector.

Production of both beef and sheep meat are expected to increase more rapidly than they did in the last decade. Beef and veal production is expected to grow by an average 1.2% each year, as a result of the rebuilding of cattle herds in North America, as well as production growth in Russia and Argentina.