Latin America and the Caribbean: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Latin America and the Caribbean

The Latin American market for frozen pig meat other than cuts or carcases rose notably to $X in 2022, surging by 9.5% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Latin America and the Caribbean

In value terms, production of frozen pig meat other than cuts or carcases expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% 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 2019 with an increase of 20% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Brazil (X tons) remains the largest frozen pig meat other than cuts or carcases producing country in Latin America and the Caribbean, accounting for 62% of total volume. Moreover, production of frozen pig meat other than cuts or carcases in Brazil exceeded the figures recorded by the second-largest producer, Mexico (X tons), threefold. The third position in this ranking was taken by Chile (X tons), with a 6.5% share.

In Brazil, production of frozen pig meat other than cuts or carcases increased at an average annual rate of +4.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+8.1% per year) and Chile (-1.4% per year).

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports in Latin America and the Caribbean

In 2022, shipments abroad of frozen pig meat other than cuts or carcases decreased by -5.2% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, exports of frozen pig meat other than cuts or carcases shrank to $X in 2022. Over the period under review, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 37%. Over the period under review, the exports of reached the peak figure at $X in 2021, and then contracted in the following year.

Exports by Country

Brazil was the largest exporting country with an export of about X tons, which reached 77% of total exports. Mexico (X tons) ranks second in terms of the total exports with a 12% share, followed by Chile (11%).

From 2012 to 2022, average annual rates of growth with regard to frozen pig meat other than cuts or carcases exports from Brazil stood at +9.0%. At the same time, Mexico (+9.6%) and Chile (+3.1%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +9.6% from 2012-2022. While the share of Brazil (+5.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest frozen pig meat other than cuts or carcases supplier in Latin America and the Caribbean, comprising 69% of total exports. The second position in the ranking was held by Mexico ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +7.2%. In the other countries, the average annual rates were as follows: Mexico (+6.7% per year) and Chile (+1.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, falling by -3.6% against the previous year. In general, the export price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2017 an increase of 14% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-1.6%), while the other leaders experienced a decline in the export price figures.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports in Latin America and the Caribbean

In 2022, imports of frozen pig meat other than cuts or carcases in Latin America and the Caribbean reduced to X tons, with a decrease of -7.3% compared with the year before. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% 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 +32.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 42%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, imports of frozen pig meat other than cuts or carcases reduced to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.9% 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 +38.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 50%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The countries with the highest levels of imports of frozen pig meat other than cuts or carcases in 2022 were Mexico (X tons), Chile (X tons) and Colombia (X tons), together accounting for 48% of total import. The Dominican Republic (X tons) ranks next in terms of the total imports with a 9.4% share, followed by Uruguay (7.5%), Honduras (7.3%), Argentina (6.4%) and Puerto Rico (6%).

From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +27.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen pig meat other than cuts or carcases importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Colombia ($X), together comprising 45% of total imports. The Dominican Republic, Uruguay, Puerto Rico, Argentina and Honduras lagged somewhat behind, together accounting for a further 37%.

Among the main importing countries, the Dominican Republic, with a CAGR of +27.9%, 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, remaining constant against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the Dominican Republic ($X per ton) and Puerto Rico ($X per ton), while Honduras ($X per ton) and Chile ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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