Canada: Market for Salted, Dried or Smoked Meat, and Offal 2024

Market Size for Salted, Dried or Smoked Meat, and Offal in Canada

The Canadian market for salted, dried or smoked meat, and offal rose markedly to $X in 2022, growing by 7.2% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in Canada

In value terms, production of salted, dried or smoked meat, and offal totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when the production volume increased by 22%. Over the period under review, production of reached the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports from Canada

Exports of salted, dried or smoked meat, and offal from Canada contracted notably to X tons in 2022, with a decrease of -20% against the previous year's figure. The total export volume increased at an average annual rate of +1.3% 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 appeared the most rapid in 2019 when exports increased by 28%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of salted, dried or smoked meat, and offal declined to $X in 2022. In general, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.1% against 2016 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 31% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of salted, dried or smoked meat, and offal from Canada, accounting for a 72% share of total exports. Moreover, exports of salted, dried or smoked meat, and offal to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold. Trinidad and Tobago (X tons) ranked third in terms of total exports with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.9% per year) and Trinidad and Tobago (+1.0% per year).

In value terms, the United States ($X) remains the key foreign market for salted, dried or smoked meat, and offal exports from Canada, comprising 83% of total exports. The second position in the ranking was taken by Trinidad and Tobago ($X), with a 2.3% share of total exports. It was followed by Mexico, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+4.7% per year) and Mexico (-4.4% per year).

Export Prices by Country

The average export price for salted, dried or smoked meat, and offal stood at $X per ton in 2022, increasing by 13% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for salted, dried or smoked meat, and offal increased by +66.0% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 20% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Mexico (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports into Canada

In 2022, approx. X tons of salted, dried or smoked meat, and offal were imported into Canada; waning by -2.1% on 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 164% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of salted, dried or smoked meat, and offal rose modestly to $X in 2022. The total import value increased at an average annual rate of +2.9% 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 2015 when imports increased by 25%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest salted, dried or smoked meat, and offal supplier to Canada, with a 85% share of total imports. Moreover, imports of salted, dried or smoked meat, and offal from the United States exceeded the figures recorded by the second-largest supplier, Italy (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of salted, dried or smoked meat, and offal to Canada, comprising 71% of total imports. The second position in the ranking was taken by Italy ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest.

Import Prices by Country

The average import price for salted, dried or smoked meat, and offal stood at $X per ton in 2022, with an increase of 4.1% against the previous year. In general, the import price saw temperate growth. The most prominent rate of growth was recorded in 2015 an increase of 87% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%).

Source: IndexBox Platform