Canada: Pork Market 2024

Pork Market Size in Canada

The Canadian pork market rose to $X in 2022, with an increase of 1.7% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Pork Production in Canada

In value terms, pork production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 12%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average pork yield in Canada dropped slightly to X kg per head, approximately reflecting the previous year. Overall, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by 1.7%. The pork yield peaked at X kg per head in 2021, and then reduced slightly in the following year.

In 2022, number of animals slaughtered for pork production in Canada declined to X heads, with a decrease of -1.5% against the year before. Overall, the number of producing animals, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 4.2% against the previous year. The number of animals slaughtered for pork production peaked at X heads in 2021, and then reduced modestly in the following year.

Pork Exports

Exports from Canada

In 2022, overseas shipments of pork decreased by -5.3% to X tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 23% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, pork exports dropped to $X in 2022. The total export value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main destinations of pork exports from Canada, with a combined 63% share of total exports. Mexico, the Philippines, South Korea, Taiwan (Chinese) and Australia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest markets for pork exported from Canada worldwide, together accounting for 73% of total exports. Mexico, the Philippines, South Korea, Taiwan (Chinese) and Australia lagged somewhat behind, together comprising a further 23%.

Mexico, with a CAGR of +19.8%, saw 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 pork export price amounted to $X per ton, shrinking by -4.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 13%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

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 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 Russia (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Pork Imports

Imports into Canada

In 2022, supplies from abroad of pork decreased by -14.1% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 18%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pork imports reduced to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of pork to Canada, with a 71% share of total imports. Moreover, pork imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. Denmark (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.7% per year) and Denmark (+13.7% per year).

In value terms, the United States ($X) constituted the largest supplier of pork to Canada, comprising 68% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Spain, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.6% per year) and Spain (+98.7% per year).

Import Prices by Country

The average pork import price stood at $X per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 an increase of 23% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 the Netherlands (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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