Europe: Turkey Meat Market 2024

Turkey Meat Market Size in Europe

In 2022, the Europe turkey meat market increased by 1% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Turkey Meat Production in Europe

In value terms, turkey meat production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 22%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Germany (X tons), Poland (X tons) and France (X tons), together comprising 58% of total production.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +11.6%), while production for the other leaders experienced more modest paces of growth.

The average turkey meat yield reduced modestly to X kg per head in 2022, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the yield increased by 12%. Over the period under review, the turkey meat yield reached the peak level at X kg per head in 2021, and then reduced modestly in the following year.

In 2022, the number of animals slaughtered for turkey meat production in Europe shrank modestly to X heads, waning by -2.8% against the year before. In general, the number of producing animals saw a slight slump. The pace of growth appeared the most rapid in 2016 with an increase of 3.7% against the previous year. As a result, the number of animals produced reached the peak level of X heads. From 2017 to 2022, the growth of this number remained at a somewhat lower figure.

Turkey Meat Exports

Exports in Europe

Turkey meat exports declined to X tons in 2022, which is down by -9.3% on the year before. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 5.1% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, turkey meat exports rose sharply to $X in 2022. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland was the key exporter of turkey meat in Europe, with the volume of exports reaching X tons, which was near 36% of total exports in 2022. Germany (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by France (8.8%), Spain (8.3%), Italy (6.8%) and Hungary (5.2%). The Netherlands (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +5.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Poland ($X) remains the largest turkey meat supplier in Europe, comprising 40% of total exports. The second position in the ranking was taken by Germany ($X), with a 19% share of total exports. It was followed by France, with a 7.3% share.

In Poland, turkey meat exports expanded at an average annual rate of +7.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+1.2% per year) and France (-4.5% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, growing by 26% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Hungary ($X per ton) and Poland ($X per ton), while the Netherlands ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.5%), while the other leaders experienced more modest paces of growth.

Turkey Meat Imports

Imports in Europe

In 2022, supplies from abroad of turkey meat decreased by -1.6% to X tons, falling for the third consecutive year after two years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 5.9%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, turkey meat imports soared to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons), distantly followed by Belgium (X tons), France (X tons), Spain (X tons), Austria (X tons), the UK (X tons), Italy (X tons), the Netherlands (X tons), Poland (X tons), Romania (X tons) and Portugal (X tons) were the key importers of turkey meat, together committing 77% of total imports. The Czech Republic (X tons) and Greece (X tons) followed a long way behind the leaders.

Imports into Germany decreased at an average annual rate of -2.0% from 2012 to 2022. At the same time, Italy (+6.7%), the Czech Republic (+5.6%), Portugal (+3.3%), Romania (+3.1%), Greece (+1.9%), Spain (+1.9%) and Poland (+1.6%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in Europe, with a CAGR of +6.7% from 2012-2022. The UK and France experienced a relatively flat trend pattern. By contrast, Belgium (-1.5%), Austria (-3.7%) and the Netherlands (-4.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Italy, the Czech Republic, Spain, Portugal and Romania increased by +2.7, +1.9, +1.6, +1.5 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported turkey meat in Europe, comprising 18% of total imports. The second position in the ranking was taken by Belgium ($X), with an 8% share of total imports. It was followed by Spain, with a 7.7% share.

In Germany, turkey meat imports contracted by an average annual rate of -2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (+1.8% per year) and Spain (+5.5% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, surging by 22% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform