Fresh Pork Other Than Cuts Or Carcases Market

The article delves into the increasing global demand for fresh or chilled pig meat other than cuts or carcases, with projections indicating a positive trend in consumption volume and value up to 2030. It discusses consumption patterns in countries like China, India, and Russia, as well as production levels and import/export trends. The analysis covers key market players, average prices, and notable growth rates in different regions.

Market Forecast

Driven by increasing demand for fresh or chilled pig meat other than cuts or carcases worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 72M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $325.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

In 2022, the amount of fresh or chilled pig meat other than cuts or carcases consumed worldwide reached 59M tons, with an increase of 2.4% against the previous year. The total consumption volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at 60M tons in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The revenue of the market for fresh or chilled pig meat other than cuts or carcases worldwide expanded sharply to $235B in 2022, with an increase of 6.9% 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). The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $248.3B. From 2021 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The country with the largest volume of consumption of fresh or chilled pig meat other than cuts or carcases was China (14M tons), accounting for 24% of total volume. Moreover, consumption of fresh or chilled pig meat other than cuts or carcases in China exceeded the figures recorded by the second-largest consumer, India (5.2M tons), threefold. The third position in this ranking was held by Russia (2.7M tons), with a 4.5% share.

In China, consumption of fresh or chilled pig meat other than cuts or carcases expanded at an average annual rate of +3.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+6.6% per year) and Russia (+2.3% per year).

In value terms, China ($82.2B) led the market, alone. The second position in the ranking was held by India ($14.1B). It was followed by Indonesia.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +6.3%. In the other countries, the average annual rates were as follows: India (+7.6% per year) and Indonesia (+4.1% per year).

The countries with the highest levels of fresh pork other than cuts or carcases per capita consumption in 2022 were Spain (40 kg per person), Italy (22 kg per person) and Russia (19 kg per person).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +5.5%), while carcases for the other global leaders experienced more modest paces of growth.

Production

World Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

In 2022, global production of fresh or chilled pig meat other than cuts or carcases rose slightly to 59M tons, growing by 2.4% against the previous year. The total output volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 11% against the previous year. Global production peaked at 61M tons in 2020; however, from 2021 to 2022, production failed to regain momentum. The general positive trend in terms output was largely conditioned by perceptible growth of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, production of fresh or chilled pig meat other than cuts or carcases expanded rapidly to $243.2B in 2022 estimated in export price. Overall, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 16%. As a result, production reached the peak level of $258.9B. From 2021 to 2022, global production of growth remained at a lower figure.

Production By Country

The country with the largest volume of production of fresh or chilled pig meat other than cuts or carcases was China (14M tons), comprising approx. 24% of total volume. Moreover, production of fresh or chilled pig meat other than cuts or carcases in China exceeded the figures recorded by the second-largest producer, India (5.2M tons), threefold. Russia (2.7M tons) ranked third in terms of total production with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +3.2%. In the other countries, the average annual rates were as follows: India (+6.6% per year) and Russia (+2.4% per year).

Imports

World Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

In 2022, supplies from abroad of fresh or chilled pig meat other than cuts or carcases increased by 3.2% to 3.1M tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 6.7% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases reached $10.3B in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, Japan (403K tons), followed by Poland (266K tons), the United States (231K tons), Italy (219K tons), the UK (192K tons), Germany (190K tons), the Czech Republic (169K tons), France (148K tons) and Romania (143K tons) represented the main importers of fresh or chilled pig meat other than cuts or carcases, together committing 62% of total imports. The following importers - the Netherlands (134K tons), Greece (92K tons), Mexico (91K tons) and Hungary (87K tons) - together made up 13% of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +15.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($1.8B) constitutes the largest market for imported fresh or chilled pig meat other than cuts or carcases worldwide, comprising 18% of global imports. The second position in the ranking was held by the United States ($811M), with a 7.9% share of global imports. It was followed by Poland, with a 6.9% share.

In Japan, imports of fresh or chilled pig meat other than cuts or carcases remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+5.1% per year) and Poland (+2.3% per year).

Import Prices By Country

In 2022, the average import price for fresh or chilled pig meat other than cuts or carcases amounted to $3,280 per ton, flattening at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by 8.1% against the previous year. Over the period under review, average import prices hit record highs at $3,571 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($4,545 per ton), while Mexico ($2,420 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

In 2022, overseas shipments of fresh or chilled pig meat other than cuts or carcases increased by 1.7% to 3.4M tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2015 when exports increased by 9.2%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases totaled $10.5B in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 11% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

The biggest shipments were from Germany (737K tons), Spain (639K tons), Canada (438K tons) and the United States (433K tons), together resulting at 67% of total export. It was distantly followed by the Netherlands (227K tons) and Denmark (205K tons), together constituting a 13% share of total exports. The following exporters - France (143K tons), Belgium (141K tons), Poland (109K tons) and Hungary (57K tons) - together made up 13% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Hungary (with a CAGR of +8.2%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.2B), Spain ($2B) and the United States ($1.6B) appeared to be the countries with the highest levels of exports in 2022, together accounting for 55% of global exports. Canada, the Netherlands, Denmark, Belgium, Poland, France and Hungary lagged somewhat behind, together accounting for a further 37%.

In terms of the main exporting countries, Hungary, with a CAGR of +9.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for fresh or chilled pig meat other than cuts or carcases amounted to $3,106 per ton, increasing by 2.1% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 8.5% against the previous year. Over the period under review, the average export prices hit record highs at $3,522 per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($3,726 per ton), while France ($2,222 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+1.3%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform