ASEAN: Bacon And Ham Market 2024

Bacon And Ham Market Size in ASEAN

The ASEAN bacon and ham market contracted to $X in 2022, flattening at the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Bacon And Ham Production in ASEAN

In value terms, bacon and ham production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Bacon And Ham Exports

Exports in ASEAN

In 2022, shipments abroad of bacon, ham and other dried, salted or smoked pig meat increased by 24% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, faced a deep setback. The pace of growth was the most pronounced in 2014 with an increase of 117% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, bacon and ham exports soared to $X in 2022. Overall, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 113% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Singapore (X tons) and Thailand (X tons) were the largest exporters of bacon, ham and other dried, salted or smoked pig meat in ASEAN, together constituting 57% of total exports. It was distantly followed by Myanmar (X tons), Cambodia (X tons) and the Philippines (X tons), together committing a 39% share of total exports. Malaysia (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Myanmar (with a CAGR of +54.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest bacon and ham supplying countries in ASEAN were Singapore ($X), Thailand ($X) and Myanmar ($X), together comprising 87% of total exports.

In terms of the main exporting countries, Myanmar, with a CAGR of +36.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, growing by 4.7% against the previous year. In general, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of 42% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.0%), while the other leaders experienced more modest paces of growth.

Bacon And Ham Imports

Imports in ASEAN

In 2022, supplies from abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -4.2% to X tons, falling for the third consecutive year after two years of growth. Overall, imports saw a slight slump. The most prominent rate of growth was recorded in 2015 when imports increased by 12%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, bacon and ham imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore prevails in imports structure, recording X tons, which was near 82% of total imports in 2022. It was distantly followed by Vietnam (X tons), creating a 7.3% share of total imports. The following importers - Thailand (X tons), Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons) - together made up 9.4% of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of bacon, ham and other dried, salted or smoked pig meat. At the same time, Vietnam (+17.9%) and Indonesia (+4.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +17.9% from 2012-2022. By contrast, Malaysia (-7.4%), the Philippines (-8.7%) and Thailand (-15.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and Vietnam increased by +13 and +6.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported bacon, ham and other dried, salted or smoked pig meat in ASEAN, comprising 79% of total imports. The second position in the ranking was held by Vietnam ($X), with an 8% share of total imports. It was followed by Thailand, with a 6.4% share.

In Singapore, bacon and ham imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+18.8% per year) and Thailand (+5.2% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, which is down by -1.6% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham import price increased by +67.7% against 2016 indices. The growth pace was the most rapid in 2017 an increase of 46%. The level of import peaked at $X per ton in 2021, and then fell slightly in the following year.

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 Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+24.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform