U.S.: Processed Meat Market 2024

Processed Meat Market Size in the U.S.

The U.S. processed meat market rose slightly to $X in 2022, picking up by X% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Processed Meat Production in the U.S.

In value terms, processed meat production rose slightly to $X in 2022. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Processed Meat Exports

Exports from the U.S.

In 2022, approx. X tons of processed meat were exported from the United States; with a decrease of X% against the previous year. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, processed meat exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Canada (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of processed meat exports from the United States, together comprising X% 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 Japan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for processed meat exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with an X% share of total exports. It was followed by Japan, with a X% share.

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

Export Prices by Country

The average processed meat export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Dominican Republic ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into the U.S.

In 2022, the amount of processed meat imported into the United States rose sharply to X tons, increasing by X% against the previous year. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, processed meat imports reached $X in 2022. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of processed meat to the United States, with a X% share of total imports. Moreover, processed meat imports from Canada exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Italy (X% per year).

In value terms, Canada ($X), Brazil ($X) and Italy ($X) constituted the largest processed meat suppliers to the United States, together comprising X% of total imports. Mexico, Uruguay, New Zealand, Poland, Chile, Denmark and Thailand lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average processed meat import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform