India: Preserved Swine Meat Market 2024

Preserved Swine Meat Market Size in India

In 2021, after three years of growth, there was decline in the Indian preserved swine meat market, when its value decreased by -3.3% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Preserved swine meat consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Preserved Swine Meat Production in India

In value terms, preserved swine meat production declined to $X in 2021 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +12.8% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 63%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Preserved Swine Meat Exports

Exports from India

In 2021, shipments abroad of prepared or preserved hams and cuts of swine meat decreased by -88.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2019 when exports increased by 993% against the previous year. The exports peaked at X tons in 2020, and then contracted sharply in the following year.

In value terms, preserved swine meat exports contracted dramatically to $X in 2021. Over the period under review, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 834%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for preserved swine meat exports from India, accounting for a 77% share of total exports. Moreover, preserved swine meat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Bhutan (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to +13.1%.

In value terms, Hong Kong SAR ($X) remains the key foreign market for prepared or preserved hams and cuts of swine meat exports from India, comprising 93% of total exports. The second position in the ranking was taken by Bhutan ($X), with a 6.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +6.2%.

Export Prices by Country

In 2021, the average preserved swine meat export price amounted to $X per ton, approximately equating the previous year. In general, the export price, however, recorded a perceptible decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 97% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Bhutan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (-6.1%).

Preserved Swine Meat Imports

Imports into India

After three years of decline, overseas purchases of prepared or preserved hams and cuts of swine meat increased by 83% to X tons in 2021. Over the period under review, imports, however, recorded a abrupt decrease. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved swine meat imports soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt shrinkage. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), Denmark (X tons) and Spain (X tons) were the main suppliers of preserved swine meat imports to India, together comprising 42% of total imports. These countries were followed by China, Italy, Sri Lanka, South Korea, the Netherlands, Germany and Austria, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of prepared or preserved hams and cuts of swine meat to India, comprising 31% of total imports. The second position in the ranking was taken by Spain ($X), with a 12% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.2% per year) and Belgium (+0.0% per year).

Import Prices by Country

In 2021, the average preserved swine meat import price amounted to $X per ton, shrinking by -6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2020 an increase of 40%. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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