Latin America and the Caribbean: Market for Salted, Dried or Smoked Meat, and Offal 2025

Market Size for Salted, Dried or Smoked Meat, and Offal in Latin America and the Caribbean

The Latin American market for salted, dried or smoked meat, and offal amounted to $X in 2022, with an increase of 5% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.1% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in Latin America and the Caribbean

In value terms, production of salted, dried or smoked meat, and offal stood at $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports in Latin America and the Caribbean

In 2022, shipments abroad of salted, dried or smoked meat, and offal increased by 7.2% to X tons, rising for the fourth consecutive year after two years of decline. Overall, exports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2019 with an increase of 29% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of salted, dried or smoked meat, and offal soared to $X in 2022. In general, exports, however, recorded a perceptible reduction. The growth pace was the most rapid in 2021 when exports increased by 36% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Brazil (X tons) was the major exporter of salted, dried or smoked meat, and offal in Latin America and the Caribbean, mixing up 99% of total export.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of salted, dried or smoked meat, and offal. From 2012 to 2022, the share of Brazil increased by +8.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) also remains the largest salted, dried or smoked meat, and offal supplier in Latin America and the Caribbean.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to -1.2%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 21% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Brazil.

From 2012 to 2022, the rate of growth in terms of prices for Brazil amounted to -0.7% per year.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports in Latin America and the Caribbean

Imports of salted, dried or smoked meat, and offal soared to X tons in 2022, growing by 48% compared with the previous year's figure. Total imports indicated a perceptible increase from 2012 to 2022: its volume 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, imports increased by +87.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of salted, dried or smoked meat, and offal totaled $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 37%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Mexico represented the largest importer of salted, dried or smoked meat, and offal in Latin America and the Caribbean, with the volume of imports recording X tons, which was approx. 47% of total imports in 2022. Panama (X tons) held a 7.2% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (6.1%). Trinidad and Tobago (X tons), Brazil (X tons), Belize (X tons), Chile (X tons), the Dominican Republic (X tons), Argentina (X tons), Guatemala (X tons), Curacao (X tons), Cuba (X tons) and Costa Rica (X tons) followed a long way behind the leaders.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of salted, dried or smoked meat, and offal. At the same time, Panama (+112.4%), Colombia (+20.0%), Chile (+11.6%), the Dominican Republic (+11.2%), Brazil (+6.7%), Costa Rica (+5.4%), Belize (+1.6%) and Argentina (+1.1%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +112.4% from 2012-2022. Curacao experienced a relatively flat trend pattern. By contrast, Guatemala (-1.1%), Trinidad and Tobago (-1.1%) and Cuba (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Panama, Colombia, Chile and the Dominican Republic increased by +7.2, +4.9, +1.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported salted, dried or smoked meat, and offal in Latin America and the Caribbean, comprising 46% of total imports. The second position in the ranking was taken by Brazil ($X), with a 7.1% share of total imports. It was followed by Colombia, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value in Mexico stood at +2.7%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+5.6% per year) and Colombia (+23.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, reducing by -30.1% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform