Meat Meals And Pellets Market

The global market for meat meals and pellets is forecasted to experience steady growth, with consumption expected to increase by 5.2% annually from 2022 to 2030. By the end of 2030, the market volume is projected to reach 57 million tons, with a market value of $42 billion. The top consuming countries in 2022 were China, the United States, and India, while the United States registered the highest rate of growth in consumption. Production, imports, and exports of meat meals and pellets also showed positive trends, with the United States and the United States leading in production and exports respectively. Overall, the global market for meat meals and pellets is expected to see continued growth in the near future.

Market Forecast

Driven by increasing demand for flours, meals and pellets of meat or meat offal worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market volume to 57M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.4% for the period from 2022 to 2030, which is projected to bring the market value to $42B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Flours, Meals And Pellets Of Meat Or Meat Offal

In 2022, global meat meals and pellets consumption reduced to 38M tons, stabilizing at 2021. In general, the total consumption indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.9% against 2019 indices. Over the period under review, global consumption hit record highs at 39M tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global meat meals and pellets market size totaled $23.7B in 2022, approximately reflecting 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). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +73.7% against 2012 indices. Global consumption peaked in 2022 and is likely to see gradual growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (5.8M tons), the United States (3.5M tons) and India (2.3M tons), together accounting for 30% of global consumption.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +13.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($4.5B) led the market, alone. The second position in the ranking was taken by India ($2.2B). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +7.5%. The remaining consuming countries recorded the following average annual rates of market growth: India (+5.1% per year) and the United States (+12.0% per year).

The countries with the highest levels of meat meals and pellets per capita consumption in 2022 were Australia (23 kg per person), Japan (12 kg per person) and the United States (10 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the United States (with a CAGR of +13.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Flours, Meals And Pellets Of Meat Or Meat Offal

Global meat meals and pellets production reduced slightly to 38M tons in 2022, approximately reflecting the year before. Overall, the total production indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.8% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 15%. Global production peaked at 38M tons in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, meat meals and pellets production totaled $22.9B in 2022 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 22% against the previous year. Global production peaked in 2022 and is likely to see steady growth in the near future.

Production By Country

The countries with the highest volumes of production in 2022 were China (5.5M tons), the United States (4.3M tons) and India (2.3M tons), with a combined 32% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by the United States (with a CAGR of +14.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Flours, Meals And Pellets Of Meat Or Meat Offal

In 2022, global meat meals and pellets imports stood at 4.8M tons, approximately reflecting the year before. Overall, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% 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 +56.6% against 2013 indices. The pace of growth was the most pronounced in 2018 when imports increased by 23% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, meat meals and pellets imports stood at $3.8B in 2022. In general, imports showed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 32%. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, Vietnam (816K tons), followed by Indonesia (518K tons), Singapore (373K tons), Thailand (315K tons), China (306K tons) and the Philippines (293K tons) were the main importers of flours, meals and pellets of meat or meat offal, together achieving 55% of total imports. Italy (173K tons), France (163K tons), Germany (157K tons), Chile (156K tons), the Netherlands (139K tons), Hungary (88K tons) and the United States (81K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Singapore (with a CAGR of +50.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest meat meals and pellets importing markets worldwide were Vietnam ($669M), Indonesia ($389M) and China ($276M), together accounting for 35% of global imports. Thailand, the Philippines, Singapore, Germany, France, Chile, the Netherlands, Italy, the United States and Hungary lagged somewhat behind, together comprising a further 39%.

Among the main importing countries, Singapore, with a CAGR of +52.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average meat meals and pellets import price stood at $791 per ton in 2022, with an increase of 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2021 an increase of 25%. Global import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,342 per ton), while Singapore ($463 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Flours, Meals And Pellets Of Meat Or Meat Offal

For the fourth year in a row, the global market recorded growth in shipments abroad of flours, meals and pellets of meat or meat offal, which increased by 4.2% to 4.8M tons in 2022. The total export volume increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 13% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, meat meals and pellets exports soared to $3.3B in 2022. In general, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.3% 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 +112.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, the United States (950K tons), distantly followed by Germany (359K tons), Australia (341K tons), the Netherlands (299K tons), Poland (261K tons), Spain (259K tons), France (243K tons) and the UK (235K tons) represented the key exporters of flours, meals and pellets of meat or meat offal, together making up 61% of total exports. The following exporters - Brazil (198K tons), Italy (172K tons), Belgium (169K tons), New Zealand (141K tons) and Canada (135K tons) - together made up 17% of total exports.

The United States was also the fastest-growing in terms of the flours, meals and pellets of meat or meat offal exports, with a CAGR of +13.8% from 2012 to 2022. At the same time, Brazil (+8.9%), Canada (+8.5%), Poland (+4.8%), France (+3.8%), Spain (+3.5%), Germany (+2.1%) and Australia (+1.3%) displayed positive paces of growth. Italy, the UK, New Zealand and the Netherlands experienced a relatively flat trend pattern. By contrast, Belgium (-1.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($745M) remains the largest meat meals and pellets supplier worldwide, comprising 23% of global exports. The second position in the ranking was taken by Australia ($214M), with a 6.5% share of global exports. It was followed by Spain, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +15.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+0.8% per year) and Spain (+9.4% per year).

Export Prices By Country

The average meat meals and pellets export price stood at $679 per ton in 2022, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 28%. The global export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was New Zealand ($840 per ton), while Canada ($526 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform