U.S.: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in the U.S.

In 2022, the U.S. market for fresh or chilled pig meat other than cuts or carcases increased by 93% to $X, rising for the fourth consecutive year after four years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in the U.S.

In value terms, production of fresh or chilled pig meat other than cuts or carcases contracted to $X in 2022. Over the period under review, production, however, recorded a slight curtailment. The growth pace was the most rapid in 2014 with an increase of 8%. As a result, production attained the peak level of $X. From 2015 to 2022, production of growth failed to regain momentum.

Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports from the U.S.

In 2022, overseas shipments of fresh or chilled pig meat other than cuts or carcases increased by 2.3% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 11%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases contracted to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 10%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Japan (X tons), Mexico (X tons) and Canada (X tons) were the main destinations of exports of fresh or chilled pig meat other than cuts or carcases from the United States, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +13.3%), while the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) remains the key foreign market for fresh or chilled pig meat other than cuts or carcases exports from the United States, comprising 54% of total exports. The second position in the ranking was taken by Canada ($X), with a 21% share of total exports. It was followed by Mexico, with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.5% per year) and Mexico (+13.3% per year).

Export Prices by Country

In 2022, the average export price for fresh or chilled pig meat other than cuts or carcases amounted to $X per ton, declining by -8.8% against the previous year. In general, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 7.3% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Mexico ($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 South Korea (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports into the U.S.

In 2022, overseas purchases of fresh or chilled pig meat other than cuts or carcases increased by 25% to X tons, rising for the third year in a row after four years of decline. In general, total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +66.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases skyrocketed to $X in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +78.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Canada (X tons) was the main fresh pork other than cuts or carcases supplier to the United States, accounting for a 93% share of total imports. Moreover, imports of fresh or chilled pig meat other than cuts or carcases from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada totaled +3.9%.

In value terms, Canada ($X) constituted the largest supplier of fresh or chilled pig meat other than cuts or carcases to the United States, comprising 94% of total imports. The second position in the ranking was taken by Mexico ($X), with a 6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Canada totaled +4.6%.

Import Prices by Country

In 2022, the average import price for fresh or chilled pig meat other than cuts or carcases amounted to $X per ton, dropping by -2.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 15%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.6%).

Source: IndexBox Platform

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