U.S.: Bacon And Ham Market 2024

Bacon And Ham Market Size in the U.S.

The U.S. bacon and ham market totaled $X in 2022, rising by 11% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +14.5% against 2020 indices. Bacon and ham consumption peaked in 2022 and is expected to retain growth in years to come.

Bacon And Ham Production in the U.S.

In value terms, bacon and ham production rose remarkably to $X in 2022. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 28%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Bacon And Ham Exports

Exports from the U.S.

In 2022, exports of bacon, ham and other dried, salted or smoked pig meat from the United States fell sharply to X tons, with a decrease of -15.2% against 2021 figures. Overall, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 23%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bacon and ham exports dropped to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Canada (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of bacon and ham exports from the United States, together accounting for 69% of total exports. South Korea, Panama, French Polynesia, Guatemala, the Dominican Republic, Chile, Colombia, Bahamas and China lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +26.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and South Korea ($X) were the largest markets for bacon and ham exported from the United States worldwide, together accounting for 72% of total exports. Japan, the Dominican Republic, Panama, French Polynesia, Guatemala, Chile, Bahamas, Colombia and China lagged somewhat behind, together comprising a further 19%.

Among the main countries of destination, Chile, with a CAGR of +26.3%, saw 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

In 2022, the average bacon and ham export price amounted to $X per ton, with an increase of 9.7% against the previous year. Over the last decade, it increased at an average annual rate of +4.2%. The pace of growth appeared the most rapid in 2017 an increase of 17% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Colombia ($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 Guatemala (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into the U.S.

After three years of growth, supplies from abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -1.6% to X tons in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 32% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, bacon and ham imports rose slightly to $X in 2022. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 37%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Canada (X tons), Italy (X tons) and Spain (X tons) were the main suppliers of bacon and ham imports to the United States, together comprising 96% of total imports. These countries were followed by Mexico, which accounted for a further 1.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +63.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bacon and ham suppliers to the United States were Italy ($X), Canada ($X) and Spain ($X), together accounting for 97% of total imports. Mexico lagged somewhat behind, accounting for a further 0.9%.

Mexico, with a CAGR of +62.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, rising by 6.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2013 when the average import price increased by 14%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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