Prepared or preserved pork and offal market in Latin America and the Caribbean

Earlier Report Observations

The prepared pork market in Latin America grew from 47 013 t in 2018 to 50 008 t in 2019, driven by increasing consumer preference for pork as a healthy and versatile meat, alongside government policies that promoted pig farming and technological upgrades in production. However, in 2020, supply chain disruptions caused by the COVID-19 pandemic temporarily reduced the market volume to 46 530 t, even as demand for processed meat products rose due to their convenience and longer shelf life.

Post-pandemic recovery saw the market rebound sharply to 55 469 t in 2021, supported by strengthened government sanitary oversight and financial assistance to producers, coupled with accelerated automation in meat processing plants. Regulatory changes in packaging, such as the adoption of modified atmosphere technology, improved product preservation and traceability. The market then stabilized around 54 527 t in 2022 before reaching 57 455 t in 2023, fueled by sustained domestic consumption and robust export performance from Brazil, particularly to China.

Production prepared or preserved pork and offal in Latin America and the Caribbean

In kind, 2017-2020, t

Top producers of prepared or preserved pork and offal, 2017-2020

World map of production of prepared or preserved pork and offal, 2017-2020

Production of prepared or preserved pork and offal in Latin America and the Caribbean has increased for the third consecutive year. In 2020, the region produced 31 231 tonnes, marking a modest gain of 4.0% compared to 2019. Looking at the period from 2017 to 2020, production grew by 11.2%, which translates to an annualized rate of 3.6%.

Annual dynamics of production in Latin America and the Caribbean in kind, 2017-2020, t

In value, 2017-2020, M $ US

In 2020, the output of prepared or preserved pork and offal in Latin America and the Caribbean was valued at 105.3 million US dollars, reflecting a strong year-over-year rise of 11.1%. From 2017 to 2020, production increased by 13%, with an annualized growth rate of 4.2%. The only decline during this period occurred in 2019, when output fell by 0.8%.

Annual dynamics of production in Latin America and the Caribbean in value, 2017-2020, M $ US

Exports prepared or preserved pork and offal from Latin America and the Caribbean

Exports in kind, t

After two years of growth, exports of prepared or preserved pork and offal from Latin America and the Caribbean declined. In 2020, exports totaled 20 685 tonnes, representing a moderate drop of 5.1% compared to 2019. Over the 2017-2020 period, exports increased by 12.5%, with a compound annual growth rate (CAGR) of 4.0%. The peak was reached in 2019 at 21 790 tonnes, which also saw the largest increase of 11.8%.

Annual dynamics of product's exports from Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, Hong Kong, Japan, and the United States were the main destinations for prepared or preserved pork and offal exports from Latin America and the Caribbean. Hong Kong accounted for 41.3% of exports in kind, Japan for 19.2%, and the United States for 14.4%. Together, these three markets absorbed 74.8% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in kind, 2017-2020

Exports in value, M $ US

Exports of prepared or preserved pork and offal from Latin America and the Caribbean have increased for the third consecutive year in value terms. In 2020, exports stood at 69.7 million US dollars, showing a slight increase of 1.4% compared to the previous year. Over the 2017-2020 period, exports grew by 14.2%, with a CAGR of 4.5%.

Annual dynamics of product's exports from Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, Hong Kong, the United States, and Japan were the primary destinations for prepared or preserved pork and offal exports in value terms. Hong Kong represented 31.4% of exports, the United States 23.5%, and Japan 18.1%. Collectively, these three countries accounted for 73.0% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Latin America and the Caribbean in value, 2017-2020

Imports prepared or preserved pork and offal to Latin America and the Caribbean

Imports in kind, t

After two years of growth, imports of prepared or preserved pork and offal into Latin America and the Caribbean declined. In 2020, imports amounted to 35 984 tonnes, marking a fall of 13.9% compared to the previous year. The highest level was recorded in 2019 at 41 773 tonnes, which also experienced the largest increase of 13.0%.

Annual dynamics of product's imports to Latin America and the Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, Denmark, and Spain were the main suppliers of prepared or preserved pork and offal to Latin America and the Caribbean. The United States accounted for 65.6% of imports in kind, Denmark for 11.0%, and Spain for 7.9%. Together, these three countries supplied 84.5% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in kind, 2017-2020

Imports in value, M $ US

After two years of growth, imports of prepared or preserved pork and offal into Latin America and the Caribbean declined in value terms. In 2020, imports totaled 181.0 million US dollars, down by 11.5% year-over-year. The peak was reached in 2019 at 204.3 million US dollars, which also saw the largest increase of 9.9%.

Annual dynamics of product's imports to Latin America and the Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, the United States, Spain, and Denmark consistently remained the main sources for imports of prepared or preserved pork and offal in value terms. The United States accounted for 67.0% of imports, Spain for 10.5%, and Denmark for 10.4%. Together, these three countries represented 88.0% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Latin America and the Caribbean in value, 2017-2020