U.S.: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in the U.S.

In 2022, the U.S. market for frozen pig meat other than cuts or carcases increased by 104% to $X, rising for the second year in a row after six years of decline. In general, consumption enjoyed a prominent increase. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in the U.S.

In value terms, production of frozen pig meat other than cuts or carcases amounted to $X in 2022. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 15% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

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Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from the U.S.

In 2022, shipments abroad of frozen pig meat other than cuts or carcases decreased by -19% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 23% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of frozen pig meat other than cuts or carcases fell to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of exports of frozen pig meat other than cuts or carcases from the United States, with a combined 53% share of total exports. Colombia, the Dominican Republic, Mexico, Honduras and Australia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +21.4%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Japan ($X) were the largest markets for frozen pig meat other than cuts or carcases exported from the United States worldwide, together comprising 55% of total exports. Colombia, the Dominican Republic, Mexico, Australia and Honduras lagged somewhat behind, together comprising a further 30%.

The Dominican Republic, with a CAGR of +23.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, increasing by 6.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 16%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Honduras ($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 (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into the U.S.

In 2022, overseas purchases of frozen pig meat other than cuts or carcases increased by 17% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 44%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of frozen pig meat other than cuts or carcases soared to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.5% 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 +86.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 59%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Canada (X tons), Denmark (X tons) and Mexico (X tons) were the main suppliers of imports of frozen pig meat other than cuts or carcases to the United States, with a combined 57% share of total imports. Brazil, Poland, Spain, Hungary, Ireland, the UK and the Netherlands lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +275.5%), 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 suppliers to the United States were Denmark ($X), Canada ($X) and Mexico ($X), together comprising 54% of total imports. Poland, Brazil, Spain, Ireland, the UK, Hungary and the Netherlands lagged somewhat behind, together comprising a further 43%.

Hungary, with a CAGR of +264.3%, 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

In 2022, the average import price for frozen pig meat other than cuts or carcases amounted to $X per ton, flattening at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by 11%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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