Mexico: Bacon And Ham Market 2024

Bacon And Ham Market Size in Mexico

The Mexican bacon and ham market amounted to $X in 2022, rising by 3.7% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Bacon and ham consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Bacon And Ham Production in Mexico

In value terms, bacon and ham production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 12%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Bacon And Ham Exports

Exports from Mexico

In 2022, the amount of bacon, ham and other dried, salted or smoked pig meat exported from Mexico was estimated at X tons, almost unchanged from the previous year. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 5.2%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, bacon and ham exports amounted to $X in 2022. In general, exports showed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 25%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for bacon and ham exports from Mexico, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +61.0%.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +59.6%.

Export Prices by Country

In 2022, the average bacon and ham export price amounted to $X per ton, approximately mirroring the previous year. In general, the export price recorded a noticeable setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Panama amounted to +8.5% per year.

Bacon And Ham Imports

Imports into Mexico

In 2022, purchases abroad of bacon, ham and other dried, salted or smoked pig meat increased by 62% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, continue to indicate a perceptible contraction. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, bacon and ham imports soared to $X in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +79.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of bacon and ham to Mexico, with a 72% share of total imports. Moreover, bacon and ham imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+9.7% per year) and Canada (-2.3% per year).

In value terms, the United States ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Mexico, comprising 66% of total imports. The second position in the ranking was taken by Spain ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+8.5% per year) and Canada (+2.1% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, growing by 7.3% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham import price increased by +103.4% against 2015 indices. The most prominent rate of growth was recorded in 2019 an increase of 23% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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