Latin America and the Caribbean: Turkey Meat Market 2025

Turkey Meat Market Size in Latin America and the Caribbean

The Latin American turkey meat market shrank to $X in 2022, which is down by -10.3% against the previous year. Overall, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Turkey Meat Production in Latin America and the Caribbean

In value terms, turkey meat production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a mild curtailment. The growth pace was the most rapid in 2019 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Brazil (X tons) constituted the country with the largest volume of turkey meat production, comprising approx. 82% of total volume. Moreover, turkey meat production in Brazil exceeded the figures recorded by the second-largest producer, Chile (X tons), eightfold. Argentina (X tons) ranked third in terms of total production with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Brazil amounted to +1.1%. The remaining producing countries recorded the following average annual rates of production growth: Chile (-3.5% per year) and Argentina (-0.4% per year).

In 2022, the average yield of turkey meat in Latin America and the Caribbean amounted to X kg per head, remaining relatively unchanged against the previous year's figure. In general, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 4.1% against the previous year. As a result, the yield reached the peak level of X kg per head. From 2019 to 2022, the growth of the turkey meat yield remained at a somewhat lower figure.

In 2022, approx. X heads of animals slaughtered for turkey meat production in Latin America and the Caribbean; approximately reflecting the year before. Over the period under review, the number of producing animals continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the number of producing animals increased by 4.7%. The level of producing animals peaked at X heads in 2013; however, from 2014 to 2022, producing animals failed to regain momentum.

Turkey Meat Exports

Exports in Latin America and the Caribbean

For the third year in a row, LatAmerica and the Caribbean recorded growth in shipments abroad of turkey meat, which increased by 54% to X tons in 2022. In general, exports, however, showed a mild contraction. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, turkey meat exports surged to $X in 2022. Overall, exports continue to indicate a temperate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Brazil (X tons) and Chile (X tons), together recording 99% of total export.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +8.2%).

In value terms, Brazil ($X) and Chile ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Chile, with a CAGR of +12.3%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, increasing by 48% against the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat export price increased by +74.8% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+4.0%).

Turkey Meat Imports

Imports in Latin America and the Caribbean

In 2022, turkey meat imports in Latin America and the Caribbean shrank to X tons, declining by -12.7% on 2021. Overall, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, turkey meat imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Mexico dominates imports structure, amounting to X tons, which was near 64% of total imports in 2022. Chile (X tons) held a 6.1% share (based on physical terms) of total imports, which put it in second place, followed by Peru (5.8%). Haiti (X tons), Jamaica (X tons), the Dominican Republic (X tons), Guatemala (X tons), Panama (X tons) and Bahamas (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to turkey meat imports into Mexico stood at -4.2%. At the same time, Panama (+27.8%), Haiti (+9.7%), Chile (+6.8%), Peru (+3.7%) and Bahamas (+2.9%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.8% from 2012-2022. The Dominican Republic, Guatemala and Jamaica experienced a relatively flat trend pattern. While the share of Chile (+3.6 p.p.), Peru (+2.6 p.p.), Haiti (+2.6 p.p.) and Panama (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-13.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported turkey meat in Latin America and the Caribbean, comprising 65% of total imports. The second position in the ranking was held by Chile ($X), with a 12% share of total imports. It was followed by the Dominican Republic, with a 4.3% share.

In Mexico, turkey meat imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Chile (+17.9% per year) and the Dominican Republic (+6.4% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, growing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2014 an increase of 26% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while Haiti ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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