Latin America and the Caribbean: Meat Market 2024

Meat Market Size in Latin America and the Caribbean

The Latin American meat market shrank modestly to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Meat Production in Latin America and the Caribbean

In value terms, meat production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of meat production, comprising approx. X% of total volume. Moreover, meat production in Brazil exceeded the figures recorded by the second-largest producer, Mexico (X tons), fourfold. Argentina (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Brazil stood at X%. The remaining producing countries recorded the following average annual rates of production growth: Mexico (X% per year) and Argentina (X% per year).

In 2022, the average meat yield in Latin America and the Caribbean amounted to X kg per head, flattening at the year before. In general, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. Over the period under review, the meat yield attained the maximum level at X kg per head in 2020; however, from 2021 to 2022, the yield failed to regain momentum.

The global number of animals slaughtered for meat production declined modestly to X heads in 2022, approximately equating 2021 figures. Overall, the number of producing animals, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the number of producing animals increased by X% against the previous year. The level of producing animals peaked at X heads in 2021, and then reduced in the following year.

Meat Exports

Exports in Latin America and the Caribbean

Meat exports rose sharply to X tons in 2022, growing by X% on the year before. Overall, exports showed a strong increase. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, meat exports surged to $X in 2022. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Brazil represented the main exporter of meat in Latin America and the Caribbean, with the volume of exports reaching X tons, which was near X% of total exports in 2022. Argentina (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (X%), Uruguay (X%) and Paraguay (X%). Chile (X tons) and Nicaragua (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to meat exports from Brazil stood at X%. At the same time, Argentina (X%), Mexico (X%), Paraguay (X%), Uruguay (X%), Chile (X%) and Nicaragua (X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Argentina (X p.p.) significantly strengthened its position in terms of the total exports, while Chile, Nicaragua and Uruguay saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest meat supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Brazil amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (X% per year) and Mexico (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Overall, the export price recorded a mild expansion. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 Uruguay ($X per ton), while Chile ($X per ton) was amongst the lowest.

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

Meat Imports

Imports in Latin America and the Caribbean

In 2022, the amount of meat imported in Latin America and the Caribbean amounted to X tons, increasing by X% against 2021 figures. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, meat imports stood at $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Mexico represented the largest importer of meat in Latin America and the Caribbean, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Chile (X tons) held the second position in the ranking, distantly followed by Colombia (X tons) and Puerto Rico (X tons). All these countries together took approx. X% share of total imports. The Dominican Republic (X tons), Uruguay (X tons), Brazil (X tons), Honduras (X tons), El Salvador (X tons), Argentina (X tons) and Guatemala (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, the Dominican Republic (X%), Colombia (X%), Uruguay (X%), Honduras (X%), Chile (X%), Guatemala (X%), El Salvador (X%), Argentina (X%) and Brazil (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Puerto Rico experienced a relatively flat trend pattern. From 2012 to 2022, the share of Chile, Colombia, the Dominican Republic, Mexico and Uruguay increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Chile ($X) and Puerto Rico ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Brazil, Colombia, the Dominican Republic, Uruguay, El Salvador, Guatemala, Argentina and Honduras lagged somewhat behind, together comprising a further X%.

The Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price, however, showed a mild decline. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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