U.S.: Processed Meat Market 2024

Processed Meat Market Size in the U.S.

The U.S. processed meat market stood at $X in 2022, growing by X% against the previous year. In general, consumption posted a prominent expansion. Processed meat consumption peaked 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 modestly to $X in 2022. In general, production recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Processed meat production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Processed Meat Exports

Exports from the U.S.

Processed meat exports from the United States shrank modestly to X tons in 2022, falling by X% on 2021. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, processed meat exports expanded significantly 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 only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

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, with a combined X% 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 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 growth rate 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

In 2022, the average processed meat export price amounted to $X per ton, with an increase of 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. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain 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.

For the fifth year in a row, the United States recorded growth in purchases abroad of processed meat, which increased by X% to X tons in 2022. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, processed meat imports rose rapidly to $X in 2022. Overall, imports saw a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Canada (X tons) constituted the largest processed meat supplier 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. The third position in this ranking was taken by Italy (X tons), with a X% share.

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

Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average processed meat import price amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, 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 likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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

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