U.S.: Meat And Poultry Market 2024

Meat And Poultry Market Size in the U.S.

The U.S. meat and poultry market amounted to $X in 2022, remaining stable against the previous year. The market 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 throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Meat And Poultry Production in the U.S.

In value terms, meat and poultry production shrank modestly to $X in 2022. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

The average yield of meat and poultry in the United States amounted to X kg per head in 2022, stabilizing at 2021 figures. Overall, the yield showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the average meat and poultry yield attained the maximum level in 2022 and is expected to retain growth in the immediate term.

The number of animals slaughtered for meat and poultry production in the United States amounted to X heads in 2022, approximately mirroring the previous year's figure. In general, the number of producing animals continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the amount of animals produced attained the peak level of X heads. From 2020 to 2022, the growth of this number remained at a lower figure.

Meat And Poultry Exports

Exports from the U.S.

In 2022, shipments abroad of meat and poultry decreased by X% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, meat and poultry exports expanded sharply to $X in 2022. Overall, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Mexico (X tons), China (X tons) and Japan (X tons) were the main destinations of meat and poultry exports from the United States, together accounting for X% of total exports. South Korea, Canada, Taiwan (Chinese), Cuba, the Philippines, Angola, Colombia, Guatemala, Vietnam and the Dominican Republic lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for meat and poultry exported from the United States were China ($X), Mexico ($X) and South Korea ($X), with a combined X% share of total exports.

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

Export Prices by Country

The average meat and poultry export price stood at $X per ton in 2022, rising 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%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Cuba ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat And Poultry Imports

Imports into the U.S.

In 2022, supplies from abroad of meat and poultry increased by X% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of X% 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 2014 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, meat and poultry imports expanded rapidly to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Canada (X tons) constituted the largest meat and poultry supplier to the United States, accounting for a X% share of total imports. Moreover, meat and poultry imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. Australia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Australia (X% per year).

In value terms, Canada ($X), Australia ($X) and Mexico ($X) were the largest meat and poultry suppliers to the United States, with a combined X% share of total imports. New Zealand, Brazil, Chile, Nicaragua and Denmark lagged somewhat behind, together comprising a further X%.

Brazil, 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

The average meat and poultry import price stood at $X per ton in 2022, remaining constant 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 2021 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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