Salted, Dried, or Smoked Hams, Shoulders and Cuts of Swine Market

The global market for salted, dried, or smoked hams, shoulders, and cuts of swine is expected to experience a downward trend in consumption over the next eight years, with decreases in both volume and value. Despite recent growth, the market is forecasted to contract. Italy, Spain, and Germany are leading countries in terms of consumption and production of these products. The total consumption volume reached its peak in 2022, with noticeable fluctuations over the years. Spain saw the highest rates of growth in both consumption and production. Global exports and imports of these products also showed some fluctuations, with Spain and the United States being the largest exporters. Overall, the market is facing challenges in maintaining steady growth, with prices varying by country of origin.

Market Forecast

The market for salted, dried, or smoked hams, shoulders and cuts of swine is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.3% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 2M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market value to $12.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Hams, Shoulders and Cuts of Swine (Salted, in Brine, Dried or Smoked)

In 2022, consumption of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) increased by 12% to 2.1M tons, rising for the second consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption of attained the maximum volume in 2022 and is likely to see gradual growth in the immediate term.

The size of the market for hams, shoulders and cuts of swine (salted, in brine, dried or smoked) worldwide rose significantly to $10.8B in 2022, with an increase of 8.1% against 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). The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the global market reached the peak level in 2022 and is likely to continue growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Italy (608K tons), Spain (508K tons) and Germany (387K tons), with a combined 72% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +10.5%), while smoked) for the other global leaders experienced more modest paces of growth.

In value terms, the largest salted, dried, or smoked hams, shoulders and cuts of swine markets worldwide were Italy ($3B), Spain ($2.9B) and Germany ($1.8B), together comprising 71% of the global market.

Spain, with a CAGR of +7.6%, saw the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while smoked) for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of salted, dried, or smoked hams, shoulders and cuts of swine per capita consumption in 2022 were Ireland (16 kg per person), Spain (11 kg per person) and Italy (10 kg per person).

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +10.4%), while smoked) for the other global leaders experienced more modest paces of growth.

Production

World Production of Hams, Shoulders and Cuts of Swine (Salted, in Brine, Dried or Smoked)

In 2022, production of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) increased by 12% to 2.1M tons, rising for the second year in a row after two years of decline. The total output volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 19% against the previous year. Global production peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, production of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) reached $9.5B in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 11%. Over the period under review, global production of attained the peak level at $10.1B in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Italy (609K tons), Spain (522K tons) and Germany (385K tons), together comprising 73% of global production.

From 2012 to 2022, the most notable rate of growth in terms of smoked), amongst the leading producing countries, was attained by Spain (with a CAGR of +10.5%), while smoked) for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Hams, Shoulders and Cuts of Swine (Salted, in Brine, Dried or Smoked)

In 2022, purchases abroad of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) increased by 0.9% to 59K tons, rising for the second consecutive year after two years of decline. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 9.2%. Over the period under review, global imports of hit record highs at 62K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) expanded modestly to $381M in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 12%. Over the period under review, global imports of reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

In 2022, Canada (10K tons), distantly followed by Portugal (5.6K tons), France (5K tons), Romania (3.5K tons) and Spain (3K tons) were the main importers of hams, shoulders and cuts of swine (salted, in brine, dried or smoked), together mixing up 47% of total imports. Belgium (2.5K tons), Italy (2.4K tons), the United States (2.2K tons), Poland (2.1K tons), Germany (2.1K tons), the UK (1.9K tons), Bahamas (1.8K tons) and Ireland (1.7K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Romania (with a CAGR of +43.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest salted, dried, or smoked hams, shoulders and cuts of swine importing markets worldwide were Canada ($48M), France ($37M) and the United States ($26M), with a combined 29% share of global imports. Portugal, Germany, Belgium, Italy, Poland, the UK, Romania, Spain, Ireland and Bahamas lagged somewhat behind, together accounting for a further 40%.

Romania, with a CAGR of +46.5%, recorded 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 global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for hams, shoulders and cuts of swine (salted, in brine, dried or smoked) stood at $6,517 per ton in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2021 when the average import price increased by 8.6% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($12,060 per ton), while Bahamas ($3,175 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Hams, Shoulders and Cuts of Swine (Salted, in Brine, Dried or Smoked)

In 2022, approx. 46K tons of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) were exported worldwide; declining by -13.2% against the year before. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 15% against the previous year. As a result, the exports reached the peak of 54K tons. From 2019 to 2022, the growth of the global exports of remained at a lower figure.

In value terms, exports of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) dropped to $352M in 2022. The total export value increased at an average annual rate of +4.2% 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 2021 when exports increased by 22% against the previous year. As a result, the exports reached the peak of $371M, and then reduced in the following year.

Exports By Country

In 2022, Spain (17K tons) and the United States (13K tons) represented the largest exporters of hams, shoulders and cuts of swine (salted, in brine, dried or smoked)in the world, together comprising 65% of total exports. Italy (4.4K tons) ranks next in terms of the total exports with a 9.5% share, followed by Belgium (7.9%). Canada (1.8K tons), the Netherlands (1.7K tons) and Montenegro (0.8K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +19.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Spain ($179M) remains the largest salted, dried, or smoked hams, shoulders and cuts of swine supplier worldwide, comprising 51% of global exports. The second position in the ranking was taken by the United States ($55M), with a 16% share of global exports. It was followed by Italy, with a 12% share.

In Spain, exports of hams, shoulders and cuts of swine (salted, in brine, dried or smoked) increased at an average annual rate of +8.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+3.4% per year) and Italy (-1.6% per year).

Export Prices By Country

In 2022, the average export price for hams, shoulders and cuts of swine (salted, in brine, dried or smoked) amounted to $7,622 per ton, increasing by 9.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($10,520 per ton), while Canada ($2,585 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform