Portugal: Bacon And Ham Market 2024

Bacon And Ham Market Size in Portugal

In 2022, after two years of decline, there was significant growth in the Portuguese bacon and ham market, when its value increased by 14% to $X. Overall, consumption, however, saw a pronounced curtailment. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Bacon And Ham Production in Portugal

In value terms, bacon and ham production surged to $X in 2022 estimated in export price. Overall, production, however, showed a deep slump. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Bacon And Ham Exports

Exports from Portugal

In 2022, overseas shipments of bacon, ham and other dried, salted or smoked pig meat increased by 12% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 13% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, bacon and ham exports shrank modestly to $X in 2022. In general, exports, however, showed a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 25%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for bacon and ham exports from Portugal, accounting for a 45% share of total exports. Moreover, bacon and ham exports to Spain exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was taken by Angola (X tons), with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+5.2% per year) and Angola (-12.3% per year).

In value terms, the largest markets for bacon and ham exported from Portugal were Spain ($X), France ($X) and Angola ($X), with a combined 71% share of total exports. Germany, Japan, the UK, Luxembourg, Brazil, Cabo Verde and Belgium lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Japan, with a CAGR of +238.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, shrinking by -11.5% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 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 Japan ($X per ton), while the average price for exports to Spain ($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 Japan (+12.0%), while the prices for the other major destinations experienced mixed trend patterns.

Bacon And Ham Imports

Imports into Portugal

In 2022, imports of bacon, ham and other dried, salted or smoked pig meat into Portugal skyrocketed to X tons, increasing by 23% against the year before. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% 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 +38.8% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, bacon and ham imports reached $X in 2022. In general, total imports indicated a temperate expansion 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, imports increased by +72.6% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of 46% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of bacon and ham to Portugal, accounting for a 89% share of total imports. Moreover, bacon and ham imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.3% per year) and Germany (-2.9% per year).

In value terms, Spain ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Portugal, comprising 86% of total imports. The second position in the ranking was held by Germany ($X), with a 5.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.1% per year) and France (+5.0% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, dropping by -8.6% against the previous year. Overall, the import price saw a slight shrinkage. The pace of growth was the most pronounced in 2016 when the average import price increased by 19%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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