U.S. - Meat - Market Analysis, Forecast, Size, Trends and Insights
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View Pricing6% Decline in U.S. Meat Exports, Dropping to $14.7 Billion in 2023
U.S. Meat Exports
In 2023, shipments abroad of meat was finally on the rise to reach 3.2M tons after two years of decline. The total export volume increased at an average annual rate of +3.2% over the period from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 10% against the previous year. As a result, the exports attained the peak of 3.3M tons. From 2021 to 2023, the growth of the exports remained at a lower figure.
In value terms, meat exports declined to $14.7B (IndexBox estimates) in 2023. Over the period under review, total exports indicated a perceptible expansion from 2013 to 2023: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, the exports hit record highs at $15.7B in 2022, and then fell in the following year.
| COUNTRY | Export Value of Meat in U.S. (billion USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Mexico | 1.6 | 2.0 | 1.7 | 1.8 | 1.9 | 1.9 | 1.8 | 1.5 | 2.2 | 2.5 | 2.9 |
| Japan | 3.0 | 3.1 | 2.5 | 2.6 | 3.1 | 3.3 | 3.0 | 3.1 | 3.4 | 3.0 | 2.6 |
| South Korea | 0.8 | 1.2 | 1.2 | 1.3 | 1.6 | 2.3 | 2.3 | 2.1 | 2.8 | 3.2 | 2.6 |
| China | 0.3 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.9 | 1.9 | 2.4 | 2.5 | 1.9 |
| Canada | 1.4 | 1.3 | 1.1 | 1.0 | 1.0 | 0.9 | 0.9 | 1.0 | 1.1 | 1.0 | 1.1 |
| Taiwan (Chinese) | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.6 | 0.6 | 0.6 | 0.7 | 0.8 | 0.7 |
| Hong Kong | 0.9 | 1.2 | 0.8 | 0.7 | 0.9 | 0.9 | 0.7 | 0.6 | 0.5 | 0.4 | 0.4 |
| Others | 1.5 | 1.6 | 1.4 | 1.4 | 1.7 | 1.8 | 1.9 | 1.7 | 2.2 | 2.4 | 2.5 |
| Total | 9.7 | 11.0 | 9.2 | 9.5 | 10.8 | 11.9 | 12.2 | 12.5 | 15.2 | 15.7 | 14.7 |
Exports by Country
Mexico (1M tons) was the main destination for meat exports from the United States, with a 33% share of total exports. Moreover, meat exports to Mexico exceeded the volume sent to the second major destination, Japan (499K tons), twofold. South Korea (413K tons) ranked third in terms of total exports with a 13% share.
From 2013 to 2023, the average annual growth rate of volume to Mexico amounted to +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.0% per year) and South Korea (+8.5% per year).
In value terms, the largest markets for meat exported from the United States were Mexico ($2.9B), South Korea ($2.6B) and Japan ($2.6B), with a combined 55% share of total exports. China, Canada, Taiwan (Chinese) and Hong Kong lagged somewhat behind, together comprising a further 27%.
China, with a CAGR of +19.2%, recorded 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.
Exports by Type
Pork (2.2M tons) was the largest type of meat exported from the United States, accounting for a 69% share of total exports. Moreover, pork exceeded the volume of the second product type, beef (cattle meat) (978K tons), twofold. Meat of camels and other animals (3.5K tons) ranked third in terms of total exports with a 0.1% share.
From 2013 to 2023, the average annual growth rate of the volume of pork exports totaled +3.8%. With regard to the other exported products, the following average annual rates of growth were recorded: beef (cattle meat) (+1.9% per year) and meat of camels and other animals (+5.6% per year).
In value terms, beef (cattle meat) ($8.6B), pork ($6.1B) and meat of camels and other animals ($25M) constituted the most exported types of meat from the United States worldwide, with a combined 100% share of total exports.
Meat of camels and other animals, with a CAGR of +11.6%, recorded the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.
Export Prices by Country
In 2023, the meat price stood at $4,651 per ton (FOB, US), declining by -8.3% against the previous year. Overall, the export price, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 21%. Over the period under review, the average export prices reached the maximum at $5,074 per ton in 2022, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong ($10,347 per ton), while the average price for exports to Honduras ($2,740 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the meat 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 1108 - Meat of asses
- FCL 947 - Buffalo meat
- FCL 1127 - Meat of camels
- FCL 867 - Meat of cattle
- FCL 870 - Meat of cattle, boneless
- FCL 1017 - Goat meat
- FCL 1097 - Horse meat
- FCL 1111 - Meat of mules
- FCL 1158 - Meat of other domestic camelids
- FCL 1151 - Meat of other domestic rodents
- FCL 1035 - Pig meat
- FCL 1141 - Rabbit meat
- FCL 977 - Meat of sheep
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Producing Animals Slaughtered, 2012–2024
- Yield, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
