India: Processed Meat Market 2024

Processed Meat Market Size in India

The Indian processed meat market contracted slightly to $X in 2022, which is down by X% against the previous year. Overall, the total consumption indicated buoyant 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Processed Meat Production in India

In value terms, processed meat production declined to $X in 2022 estimated in export price. Overall, production saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Processed meat production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Processed Meat Exports

Exports from India

Processed meat exports from India declined to X tons in 2022, which is down by X% compared with the previous year's figure. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, processed meat exports soared to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Bhutan (X tons) was the main destination for processed meat exports from India, with a X% share of total exports. Moreover, processed meat exports to Bhutan exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. The third position in this ranking was taken by Qatar (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bhutan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

In value terms, Bhutan ($X) remains the key foreign market for processed meat exports from India, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports. It was followed by Qatar, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bhutan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (X% per year) and Qatar (X% per year).

Export Prices by Country

In 2022, the average processed meat export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Saudi Arabia ($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 Kuwait (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into India

In 2022, the amount of processed meat imported into India soared to X tons, jumping by X% compared with the previous year's figure. In general, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, processed meat imports soared to $X in 2022. Over the period under review, total imports indicated a slight increase 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Bhutan (X tons) constituted the largest processed meat supplier to India, with a X% share of total imports. Moreover, processed meat imports from Bhutan exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), fivefold. The third position in this ranking was taken by Bangladesh (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Bhutan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (X% per year) and Bangladesh (X% per year).

In value terms, the largest processed meat suppliers to India were Sri Lanka ($X), Bhutan ($X) and Spain ($X), with a combined X% share of total imports. Italy, Bangladesh, Belgium and Australia lagged somewhat behind, together accounting for a further X%.

Bangladesh, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average processed meat import price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the import price, however, continues to indicate modest growth. The pace of growth was the most pronounced in 2017 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Bhutan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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