Latin America and the Caribbean: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Latin America and the Caribbean

The Latin American market for fresh or chilled pig meat other than cuts or carcases shrank to $X in 2022, remaining stable against the previous year. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.0% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Latin America and the Caribbean

In value terms, production of fresh or chilled pig meat other than cuts or carcases contracted modestly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.8% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 53% against the previous year. Over the period under review, production of reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were Brazil (X tons), Mexico (X tons) and Argentina (X tons), with a combined 82% share of total production. Peru, Chile and Ecuador lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +5.8%), while carcases for the other leaders experienced more modest paces of growth.

Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports in Latin America and the Caribbean

In 2022, shipments abroad of fresh or chilled pig meat other than cuts or carcases increased by 34% to X tons, rising for the third consecutive year after three years of decline. Overall, exports posted strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 96% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases soared to $X in 2022. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Mexico dominates carcases structure, finishing at X tons, which was approx. 93% of total exports in 2022. It was distantly followed by Brazil (X tons), achieving a 7.4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fresh pork other than cuts or carcases exports from Mexico stood at +14.2%. At the same time, Brazil (+52.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +52.0% from 2012-2022. From 2012 to 2022, the share of Mexico and Brazil increased by +10 and +7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest fresh pork other than cuts or carcases supplier in Latin America and the Caribbean, comprising 95% of total exports. The second position in the ranking was taken by Brazil ($X), with a 4.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +13.0%.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 1.5% against the previous year. Over the period under review, the export price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2021 an increase of 31% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.8%).

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports in Latin America and the Caribbean

Imports of fresh or chilled pig meat other than cuts or carcases skyrocketed to X tons in 2022, jumping by 27% against the previous year's figure. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 58%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases surged to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +113.0% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico dominates carcases structure, recording X tons, which was near 93% of total imports in 2022. Chile (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fresh pork other than cuts or carcases imports into Mexico stood at +5.6%. At the same time, Chile (+160.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +160.7% from 2012-2022. While the share of Chile (+3.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported fresh or chilled pig meat other than cuts or carcases in Latin America and the Caribbean, comprising 90% of total imports. The second position in the ranking was held by Chile ($X), with a 4% share of total imports.

In Mexico, imports of fresh or chilled pig meat other than cuts or carcases expanded at an average annual rate of +6.1% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 7.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 18%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Mexico stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.5%).

Source: IndexBox Platform

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