U.S.: Preserved Beef Market 2024

Preserved Beef Market Size in the U.S.

The U.S. preserved beef market expanded markedly to $X in 2021, surging by 14% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Preserved Beef Production in the U.S.

In value terms, preserved beef production reached $X in 2021. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. Preserved beef production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Preserved Beef Exports

Exports from the U.S.

In 2021, approx. X tons of beef and veal (salted, in brine, dried or smoked) were exported from the United States; waning by -62.9% on the year before. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2020 when exports increased by 501%. As a result, the exports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, preserved beef exports reduced notably to $X in 2021. In general, exports continue to indicate a noticeable reduction. The pace of growth was the most pronounced in 2020 when exports increased by 331% against the previous year. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Vietnam (X tons), China (X tons) and Canada (X tons) were the main destinations of preserved beef exports from the United States, with a combined 54% 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 China (with a CAGR of +235.9%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Vietnam ($X) and Guatemala ($X) constituted the largest markets for preserved beef exported from the United States worldwide, together comprising 51% of total exports. These countries were followed by China, Saudi Arabia, Hong Kong SAR, Mexico, the Dominican Republic, the Philippines, Curacao, Jamaica and Bahamas, which together accounted for a further 37%.

China, with a CAGR of +142.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved beef export price amounted to $X per ton, picking up by 18% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved beef export price decreased by -15.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 55% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Jamaica ($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 Bahamas (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into the U.S.

In 2021, approx. X tons of beef and veal (salted, in brine, dried or smoked) were imported into the United States; picking up by 8.6% against 2020. Overall, imports showed prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 81% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, preserved beef imports surged to $X in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.4% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 57% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Canada (X tons) and Uruguay (X tons) were the main suppliers of preserved beef imports to the United States.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +7.8%).

In value terms, Canada ($X) and Uruguay ($X) constituted the largest preserved beef suppliers to the United States.

In terms of the main suppliers, Canada, with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the average preserved beef import price amounted to $X per ton, with an increase of 23% against the previous year. In general, the import price, however, continues to indicate a slight setback. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Uruguay ($X per ton), while the price for Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.1%).

Source: IndexBox Platform

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