United Kingdom: Pork Market 2024

Pork Market Size in the UK

The UK pork market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Pork Production in the UK

In value terms, pork production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the production volume increased by 18%. Pork production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of pork in the UK declined modestly to X kg per head in 2022, standing approx. at the previous year. The yield figure increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 2.2% against the previous year. Over the period under review, the average pork yield reached the peak level at X kg per head in 2021, and then dropped modestly in the following year.

The number of animals slaughtered for pork production in the UK declined to X heads in 2022, remaining stable against 2021 figures. Over the period under review, the number of producing animals, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the number of producing animals increased by 3.8% against the previous year. Over the period under review, this number reached the peak level at X heads in 2021, and then fell in the following year.

Pork Exports

Exports from the UK

In 2022, overseas shipments of pork decreased by -1.1% to X tons, falling for the second consecutive year after nine years of growth. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 18%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, pork exports fell to $X in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -24.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 28% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for pork exports from the UK, accounting for a 30% share of total exports. Moreover, pork exports to China exceeded the volume sent to the second major destination, Germany (X tons), threefold. France (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-5.7% per year) and France (+28.5% per year).

In value terms, China ($X) remains the key foreign market for pork exports from the UK, comprising 28% of total exports. The second position in the ranking was held by the Philippines ($X), with an 8.5% share of total exports. It was followed by France, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+41.9% per year) and France (+31.6% per year).

Export Prices by Country

In 2022, the average pork export price amounted to $X per ton, which is down by -10.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted in the following year.

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 the United States ($X per ton), while the average price for exports to the Dominican Republic ($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 Sweden (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Pork Imports

Imports into the UK

In 2022, purchases abroad of pork decreased by -4.3% to X tons, falling for the fifth year in a row after six years of growth. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, pork imports contracted to $X in 2022. Over the period under review, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 16%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Denmark (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of pork imports to the UK, together comprising 67% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +8.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), Denmark ($X) and Spain ($X) constituted the largest pork suppliers to the UK, together comprising 66% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +7.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average pork import price stood at $X per ton in 2022, with a decrease of -4.3% against the previous year. In general, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2017 an increase of 9% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Belgium ($X per ton) and Spain ($X per ton), while the price for Denmark ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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