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U.S. - Pork (Meat Of Swine) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

U.S. - Pork (Meat Of Swine) - Market Analysis, Forecast, Size, Trends and Insights

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Jun 10, 2021

American Pork Exports See Record Growth Due to Surging Demand in Asia-Pacific

IndexBox has just published a new report: 'U.S. - Pork (Meat Of Swine) - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

Over the previous year, the U.S. has seen pork exports hit record highs, largely due to unprecedented demand from China and the Philippines, where livestock numbers have fallen dramatically after the outbreaks of African swine fever. The U.S. is forecast to achieve a 5% growth in pork production in 2021 and exports are projected to remain high, driven by robust both domestic and foreign demand.

Key Trends and Insights

In 2020, American pork exports reached a record 2.4M tons (IndexBox estimates), an increase of 26% against the previous year. The key foreign markets for American for pork include China (733K tons), Japan (350K tons) and Mexico (571K tons), together accounting for 70% of exports.

Pork supplies from the U.S. to China increased more than twofold in 2020. Following an outbreak of African swine fever in 2018, China's pig livestock population decreased by 27%. It forced the country to offset these losses with ongoing meat supplies from abroad. The Philippines and Vietnam were also similarly affected by the spread of swine fever, and American pork exports to both countries surged in 2020. The reduction in import tariffs for American products under the current trading agreement between the U.S. and Japan have triggered a 10% increase in pork exports to this country.

Exports to Mexico, however, declined in 2020 due to a fall in the peso exchange rate and a slump in the country's consumer purchasing power. Export supplies to Columbia emerged on a downward trend following the introduction of Covid restrictions.

A decline in American pork exports to China is projected in the near term, as China's livestock numbers start to recover. Exports to Mexico, South Korea, the Philippines and Vietnam are forecast to increase, thereby securing promising prospects for American pork suppliers in 2021. According to the USDA forecasts, pork production is set to increase by 5% this year, driven by strong domestic demand and the above-mentioned export opportunities.

Pork Production in the U.S.

In 2020, pork production increased by 1.9% to 13M tons, rising for the sixth year in a row. The total output volume increased at an average annual rate of +2.4% over the period from 2012 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations observed in certain years. Over the period under review, production hit record highs in 2020 and is likely to see gradual growth in the near future.

In value terms, pork production reached $32.7B in 2020. The pace of growth was the most pronounced in 2014, increasing 9.2% against the previous year. As a result, production reached the peak level of $34.2B. From 2015 to 2020, production growth remained at a somewhat lower figure.

Pork Exports by Country

In value terms, pork exports surged to $6B (IndexBox estimates) in 2020. The total export value increased at an average annual rate of +2.7% from 2012 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, exports reached the peak and are likely to continue growing in the immediate term.

China (733K tons), Mexico (571K tons) and Japan (350K tons) were the main destinations of pork exports from the U.S., with a combined 70% share of total exports. These countries were followed by South Korea, Canada, Australia, Colombia, Chile and the Dominican Republic, which accounted for a further 21%.

In value terms, the largest markets for pork exported from the U.S. were China ($1.6B), Japan ($1.5B) and Mexico ($922M), together comprising 68% of total exports.

China saw the highest growth rate of 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.

The average pork export price stood at $2,545 per ton in 2020, equating to the previous year. Overall, the export price continues to indicate a slight downturn. There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Japan ($4,291 per ton), while the average price for exports to Mexico ($1,614 per ton) was amongst the lowest.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the pork market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 1035 - Pig meat

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. COUNTRIES WITH TOP YIELDS
    4. TOP EXPORTING COUNTRIES
    5. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION, PRODUCING ANIMALS AND YIELD

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Yield And Growth
    16. Exports And Growth
    17. Export Prices And Growth
    18. Market Size And Growth
    19. Per Capita Consumption
    20. Imports And Growth
    21. Import Prices
    22. Production, In Physical Terms, 2012–2023
    23. Production, In Value Terms, 2012–2023
    24. Producing Animals Slaughtered, 2012–2023
    25. Yield, 2012–2023
    26. Imports, In Physical Terms, 2012–2023
    27. Imports, In Value Terms, 2012–2023
    28. Imports, In Physical Terms, By Country, 2023
    29. Imports, In Physical Terms, By Country, 2012–2023
    30. Imports, In Value Terms, By Country, 2012–2023
    31. Import Prices, By Country Of Origin, 2012–2023
    32. Exports, In Physical Terms, 2012–2023
    33. Exports, In Value Terms, 2012–2023
    34. Exports, In Physical Terms, By Country, 2023
    35. Exports, In Physical Terms, By Country, 2012–2023
    36. Exports, In Value Terms, By Country, 2012–2023
    37. Export Prices, By Country Of Destination, 2012–2023

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