Prepared or Preserved Meat Market

The article discusses the projected growth of the global prepared or preserved meat market, with an expected increase in consumption and market value over the next eight years. It outlines key trends in consumption, production, imports, and exports, highlighting top countries in terms of volume and value. The data reveals fluctuations in market performance and trends in various countries, offering valuable insights for industry stakeholders.

Market Forecast

Driven by increasing demand for prepared or preserved meat worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market volume to 155M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +9.1% for the period from 2022 to 2030, which is projected to bring the market value to $817B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared or Preserved Meat

In 2022, consumption of prepared or preserved meat decreased by -11.4% to 93M tons, falling for the second consecutive year after nine years of growth. The total consumption volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 8.3% against the previous year. Over the period under review, global consumption hit record highs at 106M tons in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global prepared or preserved meat market size fell to $405.8B in 2022, reducing by -13.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $467.3B in 2021, and then declined in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (21M tons), the United States (12M tons) and India (8.5M tons), with a combined 45% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the United States (with a CAGR of +13.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($92.3B), the United States ($47.2B) and India ($28.2B) constituted the countries with the highest levels of market value in 2022, with a combined 41% share of the global market.

Among the main consuming countries, the United States, with a CAGR of +14.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of prepared or preserved meat per capita consumption in 2022 were Australia (58 kg per person), Canada (54 kg per person) and the United States (37 kg per person).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +12.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Prepared or Preserved Meat

In 2022, production of prepared or preserved meat decreased by -11.3% to 94M tons, falling for the second year in a row after nine years of growth. The total output volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 8.3%. Over the period under review, global production hit record highs at 106M tons in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, prepared or preserved meat production contracted to $409.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 15% against the previous year. Over the period under review, global production reached the maximum level at $477.5B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (21M tons), the United States (12M tons) and India (8.5M tons), together accounting for 45% of global production.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +13.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Prepared or Preserved Meat

In 2022, purchases abroad of prepared or preserved meat increased by 9.1% to 4M tons, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared or preserved meat imports skyrocketed to $19.5B in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

Japan (738K tons) and the UK (594K tons) represented roughly 34% of total imports in 2022. The Netherlands (235K tons) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by Germany (5.9%), the United States (4.7%) and France (4.5%). The following importers - Hong Kong SAR (122K tons), Belgium (111K tons), Canada (98K tons), Denmark (77K tons), Spain (72K tons) and Ireland (70K tons) - together made up 14% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +8.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared or preserved meat importing markets worldwide were Japan ($3.3B), the UK ($3B) and the United States ($1.4B), together accounting for 40% of global imports.

Among the main importing countries, the United States, with a CAGR of +9.5%, recorded the highest rates of growth with regard to 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

In 2022, the average prepared or preserved meat import price amounted to $4,906 per ton, rising by 5.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Canada ($7,921 per ton), while Hong Kong SAR ($4,086 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared or Preserved Meat

In 2022, shipments abroad of prepared or preserved meat increased by 9.5% to 4.3M tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared or preserved meat exports skyrocketed to $20.4B in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Thailand (683K tons), followed by China (431K tons), Poland (384K tons), Germany (367K tons), the United States (323K tons), the Netherlands (233K tons) and Brazil (232K tons) represented the main exporters of prepared or preserved meat, together creating 61% of total exports. The following exporters - Belgium (155K tons), Denmark (136K tons), Ireland (124K tons), France (109K tons), Spain (92K tons) and Canada (90K tons) - together made up 16% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Poland (with a CAGR of +12.0%), while the other global leaders experienced more modest paces of growth.

In value terms, Thailand ($3.1B), Germany ($1.9B) and China ($1.8B) constituted the countries with the highest levels of exports in 2022, together comprising 33% of global exports. Poland, the United States, the Netherlands, Brazil, Belgium, Ireland, France, Canada, Denmark and Spain lagged somewhat behind, together accounting for a further 46%.

In terms of the main exporting countries, Poland, with a CAGR of +13.8%, saw 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

The average prepared or preserved meat export price stood at $4,721 per ton in 2022, picking up by 5% against the previous year. Overall, the export price continues to indicate modest growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($7,085 per ton), while Spain ($3,971 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform