Latin America and the Caribbean: Preserved Swine Meat Market 2024

Preserved Swine Meat Market Size in Latin America and the Caribbean

The Latin American preserved swine meat market shrank modestly to $X in 2023, dropping by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Preserved Swine Meat Production in Latin America and the Caribbean

In value terms, preserved swine meat production shrank modestly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2023, production growth failed to regain momentum.

Preserved Swine Meat Exports

Exports in Latin America and the Caribbean

In 2023, overseas shipments of prepared or preserved hams and cuts of swine meat decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, preserved swine meat exports contracted to $X in 2023. Over the period under review, exports recorded a noticeable slump. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Brazil represented the largest exporting country with an export of about X tons, which reached X% of total exports. Costa Rica (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Guatemala (X%). Trinidad and Tobago (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to preserved swine meat exports from Brazil stood at X%. At the same time, Guatemala (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Costa Rica (X%) and Trinidad and Tobago (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Guatemala and Brazil increased by X and X percentage points, respectively.

In value terms, Brazil ($X), Costa Rica ($X) and Guatemala ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Guatemala, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (X%), while the other leaders experienced mixed trends in the export price figures.

Preserved Swine Meat Imports

Imports in Latin America and the Caribbean

In 2023, supplies from abroad of prepared or preserved hams and cuts of swine meat increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated noticeable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, preserved swine meat imports expanded significantly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Mexico was the main importing country with an import of around X tons, which resulted at X% of total imports. The Dominican Republic (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Nicaragua (X%), Panama (X%) and Costa Rica (X%). Cuba (X tons), Chile (X tons), Honduras (X tons), Paraguay (X tons), Bahamas (X tons), Uruguay (X tons), Aruba (X tons) and Colombia (X tons) took a little share of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2023. At the same time, Panama (X%), Chile (X%), Costa Rica (X%), Cuba (X%), the Dominican Republic (X%), Aruba (X%), Paraguay (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Uruguay and Nicaragua experienced a relatively flat trend pattern. By contrast, Bahamas (X%) and Colombia (X%) illustrated a downward trend over the same period. Mexico (X p.p.), Panama (X p.p.), the Dominican Republic (X p.p.), Chile (X p.p.), Costa Rica (X p.p.) and Cuba (X p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Bahamas and Nicaragua saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest preserved swine meat importing markets in Latin America and the Caribbean were Mexico ($X), the Dominican Republic ($X) and Nicaragua ($X), with a combined X% share of total imports. Costa Rica, Panama, Honduras, Aruba, Cuba, Bahamas, Chile, Colombia, Uruguay and Paraguay lagged somewhat behind, together accounting for a further X%.

Panama, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked in 2023 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 the Dominican Republic ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Panama (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform