Salted, brined, dried or smoked pork market in the United States

Earlier Report Observations

The market volume for salted, brined, dried or smoked pork in the United States grew through 2020, reaching 2.66 million tons, before contracting over the next two years. By 2023, consumption had partially recovered to 2.59 million tons, reflecting a period of adjustment after the earlier peak.

In value terms, the market demonstrated robust expansion, rising from $10.6 billion in 2018 to $12.4 billion in 2023. This increase occurred despite a temporary dip in 2020, highlighting a trend of rising prices or a shift toward higher-value products within the category.

By 2024, the market was shaped by several key trends. Growing health and environmental awareness spurred demand for premium options like organic meat, while consumer preference for convenience drove sales of ready-to-eat products. Major processors, such as Hormel Foods, focused on core business growth. Simultaneously, global supply chain pressures and rising production costs contributed to record-high import prices, supporting overall market value.

Production salted, brined, dried or smoked pork in the United States

In kind, 2017-2020, K t

From 2017 to 2020, the United States maintained its position as the world's leading producer of salted, brined, dried, or smoked pork.

Top producers of salted, brined, dried or smoked pork, 2017-2020

World map of production of salted, brined, dried or smoked pork, 2017-2020

The United States saw its production of salted, brined, dried, or smoked pork rise for the third year in a row. In 2020, output reached 2 689 K t, marking a 1.5% increase from the previous year. Over the 2017-2020 period, production surged by 2 943.6%, with a compound annual growth rate of 212.2%.

Annual dynamics of production in the United States in kind, 2017-2020, K t

In value, 2017-2020, M $ US

The data shows irregular fluctuations, pointing to a volatile market environment. Production hit its lowest point in 2017 and peaked in 2019, with a 34-fold difference between these years. In 2020, the value of salted, brined, dried, or smoked pork output in the United States was 10 590 M $ US, reflecting a moderate decline of 3.7% compared to 2019. The highest value was recorded in 2019 at 11 001 M $ US, while the largest increase occurred in 2018, at 3 215.6%.

Annual dynamics of production in the United States in value, 2017-2020, M $ US

Exports salted, brined, dried or smoked pork from the United States

Exports in kind, t

Exports of salted, brined, dried, or smoked pork from the United States fell for the third consecutive year. In 2020, the country shipped 60 066 t abroad, down 4.9% from 2019. Over the 2017-2020 period, exports decreased by 14.9%, with a compound annual decline rate of 5.2%.

Annual dynamics of product's exports from the United States in kind, 2017-2020, t

From 2017 to 2020, Canada, Mexico, and Japan remained the top buyers of salted, brined, dried, or smoked pork from the United States, accounting for 39.4%, 22.7%, and 5.9% of exports in kind, respectively. Together, these three countries made up 67.9% of total exports in kind.

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

World map of product's exports from the United States in kind, 2017-2020

Exports in value, M $ US

After two years of growth, the value of salted, brined, dried, or smoked pork exports from the United States declined. In 2020, exports totaled 236.6 M $ US, a 9.8% drop year-over-year. Between 2017 and 2020, exports fell by 8.2%, equivalent to an annualized rate of 2.8%. The peak value was recorded in 2019 at 262.3 M $ US, while the largest increase occurred in 2018, at 1.2%.

Annual dynamics of product's exports from the United States in value, 2017-2020, M $ US

Between 2017 and 2020, Canada, Mexico, and South Korea were the main buyers of salted, brined, dried, or smoked pork from the United States in value terms, with shares of 43.6%, 23.2%, and 6.3%, respectively. Combined, these three markets represented 73.0% of total exports in value.

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

World map of product's exports from the United States in value, 2017-2020

Imports salted, brined, dried or smoked pork to the United States

Imports in kind, t

Imports of salted, brined, dried, or smoked pork into the United States increased for the second year in a row. In 2020, the country imported 34 105 t, a robust 12.6% rise from the previous year. Over the 2017-2020 period, imports grew by 33.8%, with a compound annual growth rate of 10.2%. The lowest volume was recorded in 2018 at 22 906 t, which also saw the largest decline of 10.1%. The biggest increase occurred in 2019, at 32.3%.

Annual dynamics of product's imports to the United States in kind, 2017-2020, t

From 2017 to 2020, imports in kind of salted, brined, dried, or smoked pork to the United States were primarily focused on Canada and Italy, whose combined share reached 89.6% of total flows, with other destinations playing a secondary role.

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

World map of product's imports to the United States in kind, 2017-2020

Imports in value, M $ US

Cross-border shipments of salted, brined, dried, or smoked pork into the United States rose for the third consecutive year. In 2020, imports stood at 265.3 M $ US, marking a 17.7% gain over the past year. Over the 2017-2020 period, imports increased by 45.3%, with a compound annual growth rate of 13.3%.

Annual dynamics of product's imports to the United States in value, 2017-2020, M $ US

Between 2017 and 2020, Italy and Canada accounted for the majority of imports in value terms of salted, brined, dried, or smoked pork to the United States, while other markets formed a less significant portion.

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

World map of product's imports to the United States in value, 2017-2020