Canada: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Canada

The Canadian market for frozen pig meat other than cuts or carcases skyrocketed to $X in 2022, with an increase of 32% against the previous year. Overall, consumption posted buoyant growth. Consumption of peaked in 2022 and is likely to continue growth in the immediate term.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Canada

In value terms, production of frozen pig meat other than cuts or carcases expanded significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 32%. Production of peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Canada

In 2022, overseas shipments of frozen pig meat other than cuts or carcases decreased by -8.4% to X tons, falling for the second consecutive year after five years of growth. Overall, exports showed a slight curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 37% 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 remained at a lower figure.

In value terms, exports of frozen pig meat other than cuts or carcases declined markedly to $X in 2022. Over the period under review, exports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 45% 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 somewhat lower figure.

Exports by Country

China (X tons), the Philippines (X tons) and the United States (X tons) were the main destinations of exports of frozen pig meat other than cuts or carcases from Canada, together accounting for 65% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +12.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and the Philippines ($X) were the largest markets for frozen pig meat other than cuts or carcases exported from Canada worldwide, with a combined 60% share of total exports.

The Philippines, with a CAGR of +14.4%, 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

In 2022, the average export price for frozen pig meat other than cuts or carcases amounted to $X per ton, declining by -10.8% against the previous year. In general, the export price showed a slight decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 15%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($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 Hong Kong SAR (+5.9%), 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 Canada

In 2022, purchases abroad of frozen pig meat other than cuts or carcases decreased by -6.3% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, recorded strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 93% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, imports of frozen pig meat other than cuts or carcases stood at $X in 2022. Overall, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2021 when imports increased by 50% against the previous year. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X tons), the United States (X tons) and Denmark (X tons) were the main suppliers of imports of frozen pig meat other than cuts or carcases to Canada, together accounting for 68% of total imports. Spain, Mexico, the Netherlands, the UK, Ireland, Poland and Chile lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +292.5%), 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 Canada were Germany ($X), the United States ($X) and Spain ($X), with a combined 61% share of total imports. Denmark, the Netherlands, Mexico, the UK, Poland, Ireland and Chile lagged somewhat behind, together accounting for a further 36%.

Mexico, with a CAGR of +313.6%, 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, picking up by 6.9% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for frozen pig meat other than cuts or carcases increased by +43.6% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 58% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($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 (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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