Mexico: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Mexico

In 2022, the Mexican market for frozen pig meat other than cuts or carcases increased by 21% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +61.6% against 2020 indices. Consumption of peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Mexico

In value terms, production of frozen pig meat other than cuts or carcases expanded to $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -2.0% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 27% against the previous year. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Mexico

In 2022, shipments abroad of frozen pig meat other than cuts or carcases decreased by -20.2% to X tons, falling for the second year in a row after nine years of growth. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 83%. Over the period under review, the exports of hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of frozen pig meat other than cuts or carcases declined dramatically to $X in 2022. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 42% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for exports of frozen pig meat other than cuts or carcases from Mexico, accounting for a 75% share of total exports. Moreover, exports of frozen pig meat other than cuts or carcases to Japan exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by China (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+18.1% per year) and China (+68.4% per year).

In value terms, Japan ($X) remains the key foreign market for frozen pig meat other than cuts or carcases exports from Mexico, comprising 78% of total exports. The second position in the ranking was taken by the United States ($X), with an 18% share of total exports. It was followed by China, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.1% per year) and China (+50.2% per year).

Export Prices by Country

In 2022, the average export price for frozen pig meat other than cuts or carcases amounted to $X per ton, with an increase of 5.5% against the previous year. Overall, the export price, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2021 an increase of 39% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into Mexico

In 2022, purchases abroad of frozen pig meat other than cuts or carcases increased by 32% to X tons, rising for the second year in a row after five years of decline. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.3% 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 +72.7% against 2020 indices. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, imports of frozen pig meat other than cuts or carcases skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 32%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of frozen pig meat other than cuts or carcases to Mexico, with a 72% share of total imports. Moreover, imports of frozen pig meat other than cuts or carcases from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of frozen pig meat other than cuts or carcases to Mexico, comprising 72% of total imports. The second position in the ranking was held by Canada ($X), with a 27% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +1.9%.

Import Prices by Country

The average import price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, which is down by -3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 26%. Over the period under review, average import prices reached the maximum 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.1%).

Source: IndexBox Platform

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