Mexico: Meat Market 2024

Meat Market Size in Mexico

The Mexican meat market expanded notably to $X in 2022, with an increase of X% against the previous year. In general, consumption saw a relatively flat trend pattern. Meat consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Meat Production in Mexico

In value terms, meat production totaled $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

In 2022, the average meat yield in Mexico reduced to X kg per head, remaining relatively unchanged against 2021 figures. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the average meat yield reached the peak level at X kg per head in 2021, and then fell modestly in the following year.

In 2022, number of animals slaughtered for meat production in Mexico dropped modestly to X heads, standing approx. at 2021. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. The number of animals slaughtered for meat production peaked at X heads in 2021, and then dropped modestly in the following year.

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Meat Exports

Exports from Mexico

In 2022, shipments abroad of meat decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, meat exports shrank slightly to $X in 2022. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of meat exports from Mexico, together comprising X% of total exports. These countries were followed by China, which accounted for a further X%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for meat exports from Mexico, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a 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 totaled 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 meat export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, export price indicated mild growth 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, meat export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Meat Imports

Imports into Mexico

In 2022, the amount of meat imported into Mexico soared to X tons, jumping by X% compared with 2021 figures. Overall, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, meat imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest meat supplier to Mexico, accounting for a X% share of total imports. Moreover, meat imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%.

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

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%.

Import Prices by Country

The average meat import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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