Preserved Swine Meat Market

The global market for prepared or preserved hams and cuts of swine meat is expected to show continued growth in both volume and value over the period from 2022 to 2030. Consumption trends have experienced fluctuations, but overall growth is forecasted at a CAGR of +3.0% for volume and +5.4% for value. China, the United States, and India are the leading consumers and producers of preserved swine meat, with notable growth rates observed in China. Import and export prices and volumes also show fluctuating trends, with Poland, Germany, and Italy being major players in exports, while the UK, France, and the United States are high importers. Despite some variations in prices and volumes, the overall outlook for the preserved swine meat market is one of steady growth.

Market Forecast

Driven by increasing demand for prepared or preserved hams and cuts of swine 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 +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 15M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $94.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared Or Preserved Hams And Cuts Of Swine Meat

In 2022, consumption of prepared or preserved hams and cuts of swine meat decreased by -0.2% to 11M tons, falling for the second year in a row after three years of growth. The total consumption volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Global consumption peaked at 12M tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global preserved swine meat market value was estimated at $61.9B in 2022, almost unchanged from 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 +1.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs at $62.6B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (2M tons), the United States (1.1M tons) and India (791K tons), together accounting for 34% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of +4.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($13.5B) led the market, alone. The second position in the ranking was taken by the United States ($5B). It was followed by India.

In China, the preserved swine meat market increased at an average annual rate of +2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+6.2% per year) and India (+5.5% per year).

The countries with the highest levels of preserved swine meat per capita consumption in 2022 were Spain (4.3 kg per person), Italy (3.8 kg per person) and France (3.6 kg per person).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +4.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Prepared Or Preserved Hams And Cuts Of Swine Meat

In 2022, global preserved swine meat production was estimated at 11M tons, leveling off at 2021 figures. The total output volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 5.5% against the previous year. Over the period under review, global production reached the peak volume at 11M tons in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, preserved swine meat production totaled $60.6B in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 5%. Over the period under review, global production attained the peak level at $61.2B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (2M tons), the United States (1.1M tons) and India (791K tons), together comprising 34% of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by China (with a CAGR of +4.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Prepared Or Preserved Hams And Cuts Of Swine Meat

In 2022, the amount of prepared or preserved hams and cuts of swine meat imported worldwide contracted modestly to 235K tons, shrinking by -2.8% against 2021. Overall, imports continue to indicate a mild downturn. The pace of growth was the most pronounced in 2017 when imports increased by 4.2% against the previous year. Over the period under review, global imports hit record highs at 292K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, preserved swine meat imports shrank modestly to $1.4B in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 9% against the previous year. Global imports peaked at $1.7B in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the UK (51K tons), distantly followed by the United States (25K tons), France (23K tons), Germany (17K tons) and Belgium (12K tons) represented the largest importers of prepared or preserved hams and cuts of swine meat, together creating 55% of total imports. Denmark (10K tons), Hong Kong SAR (8.9K tons), Italy (8.6K tons), Poland (6.7K tons), Hungary (5.3K tons), Japan (4.6K tons), Spain (4.6K tons) and the Czech Republic (3.8K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +16.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest preserved swine meat importing markets worldwide were the UK ($294M), France ($156M) and the United States ($156M), together accounting for 42% of global imports. Germany, Belgium, Denmark, Hong Kong SAR, Italy, Poland, Hungary, Spain, Japan and the Czech Republic lagged somewhat behind, together comprising a further 35%.

Hungary, with a CAGR of +16.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average preserved swine meat import price stood at $6,149 per ton in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2019 when the average import price increased by 6.1%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($7,817 per ton), while the Czech Republic ($3,401 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+1.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared Or Preserved Hams And Cuts Of Swine Meat

Global preserved swine meat exports expanded significantly to 232K tons in 2022, rising by 7.6% compared with 2021 figures. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 10%. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, preserved swine meat exports stood at $1.4B in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 15% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports By Country

Poland (47K tons) and Germany (47K tons) were the major exporters of prepared or preserved hams and cuts of swine meat in 2022, finishing at near 20% and 20% of total exports, respectively. Italy (24K tons) took an 11% share (based on physical terms) of total exports, which put it in second place, followed by the United States (8.8%), Belgium (7.2%) and Canada (6.1%). The Czech Republic (8.9K tons), Ireland (8.3K tons), Austria (8K tons), France (7.1K tons), the Netherlands (5.2K tons), Spain (4.9K tons) and Denmark (3.7K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +16.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($283M), Poland ($220M) and Italy ($203M) appeared to be the countries with the highest levels of exports in 2022, together comprising 51% of global exports. Belgium, Canada, the United States, Ireland, Austria, France, the Czech Republic, the Netherlands, Spain and Denmark lagged somewhat behind, together comprising a further 44%.

In terms of the main exporting countries, the Czech Republic, with a CAGR of +16.7%, saw the highest rates of growth with regard to 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 preserved swine meat export price amounted to $5,943 per ton, which is down by -4% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 6.7% against the previous year. Over the period under review, the average export prices attained the maximum at $6,261 per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 Italy ($8,313 per ton), while Poland ($4,651 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform