ASEAN: Processed Meat Market 2024

Processed Meat Market Size in ASEAN

The ASEAN processed meat market declined to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Processed Meat Production in ASEAN

In value terms, processed meat production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Processed Meat Exports

Exports in ASEAN

Processed meat exports rose remarkably to X tons in 2022, with an increase of X% against 2021. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed meat exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Malaysia (X tons), comprising a X% share of total exports. Vietnam (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to processed meat exports from Thailand stood at X%. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Malaysia (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (X p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest processed meat supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Processed Meat Imports

Imports in ASEAN

Processed meat imports stood at X tons in 2022, increasing by X% on the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, processed meat imports rose sharply to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Singapore (X tons) and the Philippines (X tons) represented the major importers of processed meat in ASEAN, together constituting X% of total imports. It was distantly followed by Thailand (X tons), Cambodia (X tons) and Myanmar (X tons), together achieving an X% share of total imports. Indonesia (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported processed meat in ASEAN, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform