Rabobank: global perspectives for animal protein in 2026

The growth of global animal protein production will continue to slow in 2026, influenced by cyclical and structural factors. Seafood will continue to be the main driver of production growth, followed by poultry, while pork and beef production will decrease, marking the first reduction in global terrestrial production in six years. Although feed costs are expected to remain stable, the lower availability of protein, increasing volatility, rising marketing costs, and disease pressure will impact margins. Processors may face ongoing challenges related to trade disruptions due to tariffs and other protectionist measures. All this could increase costs, pressure demand, and ultimately reduce margins. In both mature and emerging markets, a focus on increasing efficiency and productivity at both the farm and processing levels will be crucial. With the projected drop in global GDP growth in 2026, consumers will continue to be price-sensitive and adjust their consumption patterns. Price ...