Spain: Preserved Turkey Market 2024

Preserved Turkey Market Size in Spain

The Spanish preserved turkey market shrank significantly to $X in 2021, which is down by -16.4% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Preserved Turkey Production in Spain

In value terms, preserved turkey production declined sharply to $X in 2021 estimated in export price. Overall, the total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.6% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 47% against the previous year. As a result, production attained the peak level of $X, and then contracted significantly in the following year.

Preserved Turkey Exports

Exports from Spain

For the fifth year in a row, Spain recorded growth in overseas shipments of prepared or preserved meat or offal of turkeys, which increased by 13% to X tons in 2021. In general, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +74.0% against 2016 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 29%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, preserved turkey exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 20%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

Exports by Country

Cuba (X tons), Portugal (X tons) and the Dominican Republic (X tons) were the main destinations of preserved turkey exports from Spain, with a combined 69% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of +90.6%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Cuba ($X) and the Dominican Republic ($X) constituted the largest markets for preserved turkey exported from Spain worldwide, with a combined 61% share of total exports.

In terms of the main countries of destination, Cuba, with a CAGR of +69.5%, recorded the highest rates of growth with regard to 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 preserved turkey export price stood at $X per ton in 2021, with a decrease of -4.5% against the previous year. Overall, the export price showed a perceptible contraction. The pace of growth appeared the most rapid in 2016 an increase of 19% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+15.8%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Turkey Imports

Imports into Spain

In 2021, overseas purchases of prepared or preserved meat or offal of turkeys were finally on the rise to reach X tons after six years of decline. Overall, imports, however, saw a abrupt slump. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved turkey imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt decline. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of preserved turkey to Spain, accounting for a 67% share of total imports. Moreover, preserved turkey imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.7% per year) and Italy (-17.2% per year).

In value terms, Germany ($X) constituted the largest supplier of prepared or preserved meat or offal of turkeys to Spain, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 25% share of total imports. It was followed by Italy, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-5.2% per year) and Italy (-16.8% per year).

Import Prices by Country

In 2021, the average preserved turkey import price amounted to $X per ton, declining by -1.5% against the previous year. In general, the import price saw a mild decline. The pace of growth appeared the most rapid in 2013 an increase of 5.5% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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