Northern America: Turkey Meat Market 2024

Turkey Meat Market Size in Northern America

The North American turkey meat market expanded slightly to $X in 2022, with an increase of 2.9% against the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Turkey Meat Production in Northern America

In value terms, turkey meat production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 8.3% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

The United States (X tons) constituted the country with the largest volume of turkey meat production, comprising approx. 94% of total volume. Moreover, turkey meat production in the United States exceeded the figures recorded by the second-largest producer, Canada (X tons), more than tenfold.

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

In 2022, the average turkey meat yield in Northern America fell modestly to X kg per head, remaining constant against the previous year. Overall, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the yield increased by 3%. The level of yield peaked at X kg per head in 2021, and then reduced slightly in the following year.

In 2022, the number of animals slaughtered for turkey meat production in Northern America rose modestly to X heads, growing by 1.6% compared with the previous year. Overall, the number of producing animals, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 4.4%. Over the period under review, this number reached the peak level at X heads in 2012; however, from 2013 to 2022, producing animals failed to regain momentum.

Turkey Meat Exports

Exports in Northern America

In 2022, approx. X tons of turkey meat were exported in Northern America; which is down by -35.2% compared with 2021. Over the period under review, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 10% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, turkey meat exports contracted notably to $X in 2022. In general, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United States (X tons) was the main exporter of turkey meat, constituting 85% of total exports. It was distantly followed by Canada (X tons), committing a 15% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to turkey meat exports from the United States stood at -8.7%. Canada experienced a relatively flat trend pattern. While the share of Canada (+8.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-8.9 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest turkey meat supplier in Northern America, comprising 89% of total exports. The second position in the ranking was held by Canada ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to -3.5%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, with an increase of 23% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% 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 +67.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 27%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.8%).

Turkey Meat Imports

Imports in Northern America

In 2022, purchases abroad of turkey meat increased by 19% to X tons, rising for the third year in a row after three years of decline. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 60%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, turkey meat imports soared to $X in 2022. Overall, imports showed a perceptible expansion. The most prominent rate of growth was recorded in 2015 with an increase of 101% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States was the main importer of turkey meat in Northern America, with the volume of imports accounting for X tons, which was approx. 72% of total imports in 2022. It was distantly followed by Canada (X tons), constituting a 26% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of turkey meat. Canada experienced a relatively flat trend pattern. While the share of the United States (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported turkey meat in Northern America, comprising 72% of total imports. The second position in the ranking was held by Canada ($X), with a 26% share of total imports.

In the United States, turkey meat imports expanded at an average annual rate of +4.3% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with an increase of 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2015 an increase of 26%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, 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 (+3.4%).

Source: IndexBox Platform

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