Northern America: Beef Market 2024

Beef Market Size in Northern America

In 2021, the North American beef market decreased by -0.1% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Beef Production in Northern America

In value terms, beef production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 15%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

The United States (X tons) remains the largest beef producing country in Northern America, comprising approx. 90% of total volume. Moreover, beef production in the United States exceeded the figures recorded by the second-largest producer, Canada (X tons), ninefold.

In the United States, beef production remained relatively stable over the period from 2012-2021.

The average beef yield amounted to X kg per head in 2021, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2014 with an increase of 9.1%. As a result, the yield attained the peak level of X kg per head. From 2015 to 2021, the growth of the beef yield remained at a lower figure.

In 2021, approx. X heads of animals slaughtered for beef production in Northern America; increasing by 2.1% against 2020. Over the period under review, the number of producing animals, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 5.3%. The level of producing animals peaked at X heads in 2019; however, from 2020 to 2021, producing animals remained at a lower figure.

Beef Exports

Exports in Northern America

In 2021, after two years of decline, there was significant growth in shipments abroad of beef (cattle meat), when their volume increased by 17% to X tons. The total export volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, beef exports soared to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the United States (X tons) represented the major exporter of beef (cattle meat), creating 71% of total exports. It was distantly followed by Canada (X tons), comprising a 29% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to beef exports from the United States stood at +4.0%. At the same time, Canada (+7.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +7.1% from 2012-2021. From 2012 to 2021, the share of Canada increased by +5.1 percentage points.

In value terms, the United States ($X) remains the largest beef supplier in Northern America, comprising 75% of total exports. The second position in the ranking was taken by Canada ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +7.9%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, rising by 21% against the previous year. Over the last nine years, it increased at an average annual rate of +4.0%. 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 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+5.4%).

Beef Imports

Imports in Northern America

In 2021, beef imports in Northern America contracted to X tons, dropping by -3.2% against the previous year. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; afterwards, it flattened through to 2021.

In value terms, beef imports skyrocketed to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.0% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 39%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

The United States represented the major importing country with an import of around X tons, which reached 89% of total imports. It was distantly followed by Canada (X tons), creating a 10% share of total imports.

The United States was also the fastest-growing in terms of the beef (cattle meat) imports, with a CAGR of +4.5% from 2012 to 2021. Canada (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +9.8 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported beef (cattle meat) in Northern America, comprising 89% of total imports. The second position in the ranking was taken by Canada ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +8.9%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, growing by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.3%).

Source: IndexBox Platform

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