Meat preparations: of meat, meat offal or the blood of any animal, n.e.s. in heading no. 1602

In 2024, meat preparations: of meat, meat offal or the blood of any animal, n.e.s. in heading no. 1602 trade exhibited significant decline, with global flows reaching $490,002,433 and a three-year compound annual growth rate of +8.1% (five-year: +4.7%). The all-time peak of $534,847,541 was recorded in 2023; the current level is 8% below that high-water mark.

Over the 30-year observation window (1995–2024), 76% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+4.1% acceleration).

The World Trade Flows Characterization classifies meat preparations: of meat, meat offal or the blood of any animal, n.e.s. in heading no. 1602 as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.084). The three largest exporters — United Arab Emirates ($99.2M), Mongolia ($62.4M), and Saudi Arabia ($51.6M) — collectively dominate supply flows. The leading exporter has grown at +8.8% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.058). The three largest import markets are China ($62.3M), Saudi Arabia ($57.2M), and Kuwait ($44.3M). The largest importing market sources from 6 different supplying countries.

Estimated substitution elasticity: -6.25. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Mongolia → China at $62.3M, representing 100.0% of the importer's total demand.

The volatility score for meat preparations: of meat, meat offal or the blood of any animal, n.e.s. in heading no. 1602 is 11 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.