Italy, Germany and Spain Comprise Over a Half of the European Bacon And Ham Market

IndexBox has just published a new report: 'EU - Bacon, Ham And Other Dried, Salted Or Smoked Pig Meat - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The EU bacon and ham market expanded to $19.8B in 2019, increasing by 2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a mild curtailment. The growth pace was the most rapid in 2017 when the market value increased by 4.7% y-o-y. Over the period under review, the market hit record highs at $20.9B in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.

Consumption by Country

The countries with the highest volumes of bacon and ham consumption in 2019 were Germany (670K tonnes), the UK (543K tonnes) and Italy (504K tonnes), with a combined 56% share of total consumption. Spain, France, Poland, Ireland, the Netherlands, Romania and Belgium lagged somewhat behind, together accounting for a further 33%.

From 2013 to 2019, the most notable rate of growth in terms of bacon and ham consumption, amongst the main consuming countries, was attained by Belgium, while bacon and ham consumption for the other leaders experienced more modest paces of growth.

In value terms, Italy ($5.9B), Germany ($3.7B) and Spain ($2.4B) were the countries with the highest levels of market value in 2019, with a combined 61% share of the total market. These countries were followed by the UK, France, Ireland, Poland, Belgium, Romania and the Netherlands, which together accounted for a further 30%.

In 2019, the highest levels of bacon and ham per capita consumption was registered in Ireland (28 kg per person), followed by Italy (8.47 kg per person), Germany (8.18 kg per person) and the UK (8.07 kg per person), while the world average per capita consumption of bacon and ham was estimated at 6 kg per person.

Production in the EU

In 2019, production of bacon, ham and other dried, salted or smoked pig meat decreased by -0.4% to 3.1M tonnes, falling for the third year in a row after two years of growth. In general, production, however, recorded a relatively flat trend pattern. 

The countries with the highest volumes of bacon and ham production in 2019 were Germany (704K tonnes), Italy (561K tonnes) and the UK (366K tonnes), together accounting for 53% of total production.

From 2013 to 2019, the most notable rate of growth in terms of bacon and ham production, amongst the main producing countries, was attained by the UK, while bacon and ham production for the other leaders experienced more modest paces of growth.

Imports in the EU

In 2019, overseas purchases of bacon, ham and other dried, salted or smoked pig meat increased by 2.8% to 440K tonnes, rising for the third consecutive year after two years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. The volume of imports peaked at 468K tonnes in 2014; however, from 2015 to 2019, imports remained at a lower figure. In value terms, bacon and ham imports reduced to $2.3B (IndexBox estimates) in 2019. 

Imports by Country

The UK was the major importing country with an import of around 193K tonnes, which recorded 44% of total imports. It was distantly followed by France (43K tonnes), Belgium (39K tonnes), Germany (28K tonnes), Italy (23K tonnes) and Denmark (20K tonnes), together committing a 35% share of total imports. Ireland (17K tonnes), the Netherlands (10K tonnes), Portugal (9.6K tonnes) and Austria (8.8K tonnes) occupied a relatively small share of total imports.

From 2013 to 2019, average annual rates of growth with regard to bacon and ham imports into the UK stood at -3.8%. At the same time, Belgium (+16.4%), Austria (+9.9%), Denmark (+2.5%) and Ireland (+1.4%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing importer imported in the European Union, with a CAGR of +16.4% from 2013-2019.  Meanwhile, imports to France, Italy, Portugal and Germany experienced a relatively flat trend pattern. By contrast, the Netherlands (-4.0%) illustrated a downward trend over the same period.

In value terms, the largest bacon and ham importing markets in the European Union were the UK ($721M), France ($370M) and Germany ($270M), together accounting for 60% of total imports. Belgium, Italy, Denmark, the Netherlands, Austria, Ireland and Portugal lagged somewhat behind, together accounting for a further 28%.

Among the main importing countries, Austria recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The bacon and ham import price in the European Union stood at $5,189 per tonne in 2019, falling by -3.5% against the previous year. Overall, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2016 an increase of 14% y-o-y. Over the period under review, the import price reached the maximum at $5,834 per tonne in 2013; however, from 2014 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was Germany ($9,611 per tonne), while Belgium ($3,562 per tonne) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform