ASEAN: Beef Market 2025

Beef Market Size in ASEAN

In 2021, the ASEAN beef market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a noticeable decrease. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Beef Production in ASEAN

In value terms, beef production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible contraction. The pace of growth appeared the most rapid in 2015 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

The countries with the highest volumes of production in 2021 were Indonesia (X tons), Vietnam (X tons) and the Philippines (X tons), together comprising 68% of total production.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +5.7%), while production for the other leaders experienced mixed trends in the production figures.

In 2021, the average yield of beef (cattle meat) in ASEAN soared to X kg per head, growing by 21% on the previous year's figure. In general, the yield saw a slight increase. As a result, the yield reached the peak level and is likely to continue growth in the immediate term.

The global number of animals slaughtered for beef production reduced to X heads in 2021, falling by -14.9% against the year before. In general, the number of producing animals recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 when the number of producing animals increased by 1.8% against the previous year. Over the period under review, this number hit record highs at X heads in 2013; however, from 2014 to 2021, producing animals stood at a somewhat lower figure.

Beef Exports

Exports in ASEAN

In 2021, the amount of beef (cattle meat) exported in ASEAN dropped notably to X tons, falling by -17.7% compared with the previous year's figure. Over the period under review, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 32%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, beef exports totaled $X in 2021. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2014 with an increase of 48%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Singapore (X tons) represented the major exporter of beef (cattle meat), achieving 77% of total exports. Malaysia (X tons) held the second position in the ranking, followed by Lao People's Democratic Republic (X tons) and Vietnam (X tons). All these countries together took approx. 22% share of total exports.

Exports from Singapore increased at an average annual rate of +2.2% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+65.0%) and Vietnam (+9.5%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +65.0% from 2012-2021. By contrast, Malaysia (-12.1%) illustrated a downward trend over the same period. While the share of Singapore (+56 p.p.), Lao People's Democratic Republic (+5.6 p.p.) and Vietnam (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest beef supplier in ASEAN, comprising 81% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Vietnam, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at +4.0%. In the other countries, the average annual rates were as follows: Malaysia (-11.4% per year) and Vietnam (+2.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, growing by 36% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Beef Imports

Imports in ASEAN

In 2021, purchases abroad of beef (cattle meat) was finally on the rise to reach X tons after three years of decline. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.8% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 44%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, beef imports soared to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -28.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 48% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) represented roughly 91% of total imports in 2021. It was distantly followed by Singapore (X tons), creating a 5.2% share of total imports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +22.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest beef importing markets in ASEAN were Indonesia ($X), Vietnam ($X) and Malaysia ($X), with a combined 67% share of total imports.

Indonesia, with a CAGR of +21.2%, saw 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 leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, picking up by 7.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 when the import price increased by 9.6%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform