U.S. - Pig Fat - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPig Fat Price in the United States - 2023
Contents:
- Pig Fat Price in the United States (FOB) - 2023
- Pig Fat Price in the United States (CIF) - 2023
- Pig Fat Exports in the United States
- Pig Fat Imports in the United States
Pig Fat Price in the United States (FOB) - 2023
In October 2023, the average pig fat export price amounted to $1,621 per ton, dropping by -8.6% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 10% against the previous month. Over the period under review, the average export prices hit record highs at $1,772 per ton in September 2023, and then contracted in the following month.
Average prices varied somewhat for the major external markets. In October 2023, the countries with the highest prices were the Dominican Republic ($2,275 per ton) and El Salvador ($2,248 per ton), while the average price for exports to Mexico ($1,532 per ton) and Honduras ($1,543 per ton) were amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.
Pig Fat Price in the United States (CIF) - 2023
The average pig fat import price stood at $2,089 per ton in October 2023, with an increase of 15% against the previous month. Over the period under review, the import price saw a mild expansion. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 37% m-o-m. The import price peaked at $2,128 per ton in August 2023; afterwards, it flattened through to October 2023.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From October 2022 to October 2023, the rate of growth in terms of prices for Canada amounted to +1.0% per month.
Pig Fat Exports in the United States
In 2022, overseas shipments of pig fat decreased by -59.6% to 21K tons, falling for the second consecutive year after two years of growth. In general, exports showed a significant decline. The growth pace was the most rapid in 2020 with an increase of 12%. As a result, the exports reached the peak of 54K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, pig fat exports contracted notably to $26M in 2022. Overall, exports showed a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 3.3%. As a result, the exports reached the peak of $43M. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
Export of Pig Fat in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Mexico | 18.5 | 18.5 | 17.5 | 19.2 | 1.2% |
Dominican Republic | 1.5 | 2.5 | 4.3 | 2.7 | 21.6% |
Japan | 1.4 | 2.4 | N/A | 1.0 | -10.6% |
Honduras | 0.9 | 0.7 | 1.2 | 0.5 | -17.8% |
Guatemala | 0.8 | 0.7 | 0.9 | 0.5 | -14.5% |
South Korea | 15.5 | 12.3 | 2.5 | 0.4 | -70.4% |
Chile | 0.1 | 0.5 | 0.2 | 0.3 | 44.2% |
China | 0.8 | 2.1 | 10.5 | N/A | 262.3% |
Others | 2.0 | 3.0 | 3.9 | 1.3 | -13.4% |
Total | 41.3 | 42.7 | 41.1 | 25.8 | -14.5% |
Top Export Markets for Pig Fat from the United States in 2022:
- Mexico (13.1K tons)
- Dominican Republic (3.6K tons)
- Japan (1.3K tons)
- South Korea (0.6K tons)
- Chile (0.4K tons)
- Honduras (0.3K tons)
- Guatemala (0.3K tons)
Pig Fat Imports in the United States
In 2022, overseas purchases of pig fat decreased by -7.7% to 9.7K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 120%. As a result, imports reached the peak of 11K tons, and then shrank in the following year.
In value terms, pig fat imports shrank to $14M in 2022. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 94% against the previous year. As a result, imports reached the peak of $17M, and then dropped in the following year.
Import of Pig Fat in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 7.0 | 8.2 | 15.9 | 13.7 | 25.1% |
Spain | 0.5 | 0.5 | 0.7 | 0.7 | 11.9% |
Others | N/A | N/A | 0.1 | 0.1 | 0.0% |
Total | 7.5 | 8.7 | 16.8 | 14.5 | 24.6% |
Top Suppliers of Pig Fat to the United States in 2022:
- Canada (9.0K tons)
- Spain (0.7K tons)
This report provides an in-depth analysis of the pig fat market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10115040 - Pig fat free of lean meat, fresh, chilled, frozen, salted, in brine or smoked (excluding rendered)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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