India: Bacon And Ham Market 2024

Bacon And Ham Market Size in India

In 2022, the Indian bacon and ham market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, continues to indicate a pronounced contraction. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Bacon And Ham Production in India

In value terms, bacon and ham production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14% against the previous year. Bacon and ham production peaked at $X in 2020; afterwards, it flattened through to 2022.

Bacon And Ham Exports

Exports from India

After ten years of growth, shipments abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -14.5% to X tons in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of 43% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, bacon and ham exports declined markedly to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 59% against the previous year. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

Vietnam (X tons) was the main destination for bacon and ham exports from India, accounting for a 95% share of total exports. Moreover, bacon and ham exports to Vietnam exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam totaled +21.1%.

In value terms, Vietnam ($X) and the United States ($X) appeared to be the largest markets for bacon and ham exported from India worldwide.

The United States, with a CAGR of +52.0%, 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.

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, waning by -4.3% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham export price increased by +58.5% against 2012 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 11% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell slightly 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 Vietnam stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.9%).

Bacon And Ham Imports

Imports into India

In 2022, the amount of bacon, ham and other dried, salted or smoked pig meat imported into India shrank to X tons, dropping by -12.5% compared with the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 864%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, bacon and ham imports reduced to $X in 2022. In general, imports, however, saw notable growth. The growth pace was the most rapid in 2014 with an increase of 707%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest bacon and ham supplier to India, with a 31% share of total imports. Moreover, bacon and ham imports from Italy exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume from Italy amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-6.6% per year) and Thailand (+6.2% per year).

In value terms, Italy ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to India, comprising 37% of total imports. The second position in the ranking was taken by Thailand ($X), with a 9.9% share of total imports. It was followed by Belgium, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+16.6% per year) and Belgium (-6.6% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The growth pace was the most rapid in 2013 when the average import price increased by 55%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average 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 Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :