Northern America: Bacon And Ham Market 2024

Bacon And Ham Market Size in Northern America

The North American bacon and ham market rose significantly to $X in 2022, picking up by 12% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +14.6% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the near future.

Bacon And Ham Production in Northern America

In value terms, bacon and ham production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Bacon And Ham Exports

Exports in Northern America

In 2022, exports of bacon, ham and other dried, salted or smoked pig meat in Northern America shrank markedly to X tons, with a decrease of -17.3% compared with the previous year. Over the period under review, exports showed a noticeable decrease. The pace of growth appeared the most rapid in 2015 with an increase of 19% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, bacon and ham exports reduced to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 18%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

In 2022, the United States (X tons) was the largest exporter of bacon, ham and other dried, salted or smoked pig meat, committing 64% of total exports. It was distantly followed by Canada (X tons), generating a 36% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Canada (with a CAGR of +1.2%).

In value terms, the largest bacon and ham supplying countries in Northern America were the United States ($X) and Canada ($X).

Canada, with a CAGR of +5.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2017 an increase of 12%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%).

Bacon And Ham Imports

Imports in Northern America

In 2022, after four years of growth, there was decline in purchases abroad of bacon, ham and other dried, salted or smoked pig meat, when their volume decreased by -1.5% to X tons. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +87.0% against 2014 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then contracted modestly in the following year.

In value terms, bacon and ham imports rose to $X in 2022. Overall, imports, however, showed strong growth. The pace of growth was the most pronounced in 2021 with an increase of 23%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States represented the major importing country with an import of around X tons, which reached 65% of total imports. It was distantly followed by Canada (X tons), achieving a 34% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United States (with a CAGR of +6.4%).

In value terms, the United States ($X) constitutes the largest market for imported bacon, ham and other dried, salted or smoked pig meat in Northern America, comprising 70% of total imports. The second position in the ranking was taken by Canada ($X), with a 29% share of total imports.

In the United States, bacon and ham imports increased at an average annual rate of +9.0% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, with an increase of 5.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2021 when the import price increased by 13% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.4%).

Source: IndexBox Platform

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