Overview of the Global Market for Frozen Pig Meat Other Than Cuts Or Carcases

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases

The global market for frozen pig meat other than cuts or carcases shrank to $X in 2022, with a decrease of -9.7% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the global market failed to regain momentum.

Production of Frozen Pig Meat Other Than Cuts Or Carcases

In value terms, production of frozen pig meat other than cuts or carcases fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 22% against the previous year. Over the period under review, global production of hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Spain (X tons), Brazil (X tons) and the United States (X tons), together comprising 32% of global production. India, Canada, Russia, Denmark, Mexico, the Netherlands, Germany, Nigeria, Bangladesh and Turkey lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +22.1%), while carcases for the other global leaders experienced more modest paces of growth.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports

In 2022, overseas shipments of frozen pig meat other than cuts or carcases decreased by -10.3% to X tons, falling for the second consecutive year after three years of growth. Overall, total exports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.2% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 21%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the global exports of remained at a somewhat lower figure.

In value terms, exports of frozen pig meat other than cuts or carcases shrank to $X in 2022. In general, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 26% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the global exports of failed to regain momentum.

Exports by Country

Brazil (X tons), Spain (X tons) and the United States (X tons) represented roughly 49% of total exports in 2022. Denmark (X tons) took an 8.1% share (based on physical terms) of total exports, which put it in second place, followed by Canada (7.5%), the Netherlands (7.2%) and Germany (6.4%). Poland (X tons), France (X tons), Mexico (X tons), Chile (X tons) and Ireland (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of +10.0%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest frozen pig meat other than cuts or carcases supplying countries worldwide were Spain ($X), Brazil ($X) and the United States ($X), together accounting for 50% of global exports.

Among the main exporting countries, Spain, with a CAGR of +11.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for frozen pig meat other than cuts or carcases amounted to $X per ton, dropping by -2.5% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 11% against the previous year. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.1%), while the other global leaders experienced more modest paces of growth.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports

In 2022, supplies from abroad of frozen pig meat other than cuts or carcases decreased by -14.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.1% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 24% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of global imports of failed to regain momentum.

In value terms, imports of frozen pig meat other than cuts or carcases dropped sharply to $X in 2022. In general, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.6% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 35%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of global imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), South Korea (X tons) and the Philippines (X tons) represented the key importers of frozen pig meat other than cuts or carcases, together comprising 50% of total imports. The United States (X tons), Australia (X tons), Hong Kong SAR (X tons), Romania (X tons), Vietnam (X tons), Mexico (X tons), Chile (X tons), Poland (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen pig meat other than cuts or carcases imports into China stood at +13.1%. At the same time, Vietnam (+23.9%), the Philippines (+19.8%), Chile (+18.4%), Colombia (+12.5%), the United States (+8.7%), Poland (+8.4%), Romania (+5.3%), South Korea (+3.6%), Mexico (+2.3%), Australia (+2.2%) and Japan (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +23.9% from 2012-2022. By contrast, Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. While the share of China (+14 p.p.), the Philippines (+4.4 p.p.), Vietnam (+1.8 p.p.) and the United States (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Hong Kong SAR (-2.2 p.p.) and Japan (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 48% share of global imports. The United States, Australia, the Philippines, Hong Kong SAR, Vietnam, Mexico, Romania, Chile, Colombia and Poland lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, Vietnam, with a CAGR of +25.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, waning by -7% against the previous year. Over the period under review, the import price saw a slight shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 8.5%. Global import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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