U.S.: Meat And Poultry Market 2022

Meat And Poultry Market Size in the U.S.

The U.S. meat and poultry market reached $X in 2021, leveling off at the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Meat and poultry consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Meat And Poultry Production in the U.S.

In value terms, meat and poultry production stood at $X in 2021. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 11% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

The average yield of meat and poultry in the United States totaled X kg per head in 2021, leveling off at 2020 figures. Overall, the yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the yield increased by 2.1%. The meat and poultry yield peaked in 2021 and is expected to retain growth in the immediate term.

In 2021, the number of animals slaughtered for meat and poultry production in the United States totaled X heads, stabilizing at 2020 figures. In general, the number of producing animals showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 1.8% against the previous year. As a result, the number of animals produced reached the peak level of X heads; afterwards, it flattened through to 2021.

Meat And Poultry Exports

Exports from the U.S.

After five years of growth, overseas shipments of meat and poultry decreased by -0.2% to X tons in 2021. The total export volume increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 7.4%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, meat and poultry exports soared to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), China (X tons) and Japan (X tons) were the main destinations of meat and poultry exports from the United States, with a combined 47% share of total exports. These countries were followed by South Korea, Canada, Cuba, Taiwan (Chinese), the Philippines, Colombia, Guatemala, Angola, the Dominican Republic and Vietnam, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were in Colombia (with a CAGR of +16.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Mexico ($X) were the largest markets for meat and poultry exported from the United States worldwide, together comprising 50% of total exports. These countries were followed by South Korea, Canada, Taiwan (Chinese), Colombia, the Philippines, the Dominican Republic, Guatemala, Cuba, Vietnam and Angola, which together accounted for a further 34%.

In terms of the main countries of destination, Colombia, with a CAGR of +19.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average meat and poultry export price amounted to $X per ton, rising by 22% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Angola ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Meat And Poultry Imports

Imports into the U.S.

In 2021, supplies from abroad of meat and poultry increased by 8.6% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 26%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, meat and poultry imports skyrocketed to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +46.3% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of 42% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Canada (X tons) constituted the largest meat and poultry supplier to the United States, accounting for a 37% share of total imports. Moreover, meat and poultry imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was taken by Australia (X tons), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Canada stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+13.0% per year) and Australia (-0.4% per year).

In value terms, the largest meat and poultry suppliers to the United States were Canada ($X), Australia ($X) and Mexico ($X), with a combined 70% share of total imports. These countries were followed by New Zealand, Brazil, Nicaragua, Chile, Uruguay and Denmark, which together accounted for a further 24%.

Among the main suppliers, Brazil, with a CAGR of +234.1%, recorded the highest rates of growth with regard to 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 2021, the average meat and poultry import price amounted to $X per ton, rising by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Australia ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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