Canada: Beef Market 2024

Beef Market Size in Canada

The Canadian beef market reached $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Beef consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Beef Production in Canada

In value terms, beef production amounted to $X in 2022 estimated in export price. In general, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of beef (cattle meat) in Canada shrank to X kg per head, waning by X% against 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. The beef yield peaked at X kg per head in 2021, and then reduced in the following year.

The number of animals slaughtered for beef production in Canada expanded modestly to X heads in 2022, surging by X% on the year before. Overall, the number of producing animals, however, continues to indicate a mild decrease. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, this number hit record highs at X heads in 2012; however, from 2013 to 2022, producing animals remained at a lower figure.

Beef Exports

Exports from Canada

In 2022, the amount of beef (cattle meat) exported from Canada contracted to X tons, with a decrease of X% on the year before. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then declined slightly in the following year.

In value terms, beef exports declined modestly to $X in 2022. Overall, exports, however, showed a resilient increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

The United States (X tons) was the main destination for beef exports from Canada, with a X% share of total exports. Moreover, beef exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), sevenfold. Mexico (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Mexico (X% per year).

In value terms, the United States ($X) remains the key foreign market for beef (cattle meat) exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with an X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The average beef export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beef export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Canada

In 2022, approx. X tons of beef (cattle meat) were imported into Canada; increasing by X% on the previous year's figure. In general, imports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, beef imports rose sharply to $X in 2022. Over the period under review, imports, however, recorded a slight descent. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest beef supplier to Canada, with a X% share of total imports. Moreover, beef imports from the United States exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), sixfold. Australia (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Australia (X% per year).

In value terms, the United States ($X) constituted the largest supplier of beef (cattle meat) to Canada, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by Mexico, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average beef import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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