Asia: Preserved Beef Market 2024

Preserved Beef Market Size in Asia

For the fourth consecutive year, the Asian preserved beef market recorded growth in sales value, which increased by 6.9% to $X in 2021. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Preserved Beef Production in Asia

In value terms, preserved beef production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 21%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the immediate term.

Preserved Beef Exports

Exports in Asia

In 2021, exports of beef and veal (salted, in brine, dried or smoked) in Asia soared to X tons, with an increase of 197% compared with the previous year. Overall, exports, however, showed a noticeable contraction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, preserved beef exports surged to $X in 2021. In general, exports continue to indicate a slight expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India represented the major exporting country with an export of about X tons, which accounted for 47% of total exports. Malaysia (X tons) took the second position in the ranking, distantly followed by the United Arab Emirates (X tons) and Hong Kong SAR (X tons). All these countries together took near 36% share of total exports. The following exporters - Bangladesh (X tons), Japan (X tons) and Pakistan (X tons) - each finished at an 8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved beef exports from India stood at -3.1%. At the same time, Hong Kong SAR (+105.2%), Malaysia (+77.7%), the United Arab Emirates (+53.1%), Japan (+20.1%), Bangladesh (+9.4%) and Pakistan (+6.8%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Asia, with a CAGR of +105.2% from 2012-2021. While the share of Malaysia (+19 p.p.), the United Arab Emirates (+10 p.p.), Hong Kong SAR (+6.9 p.p.), Japan (+2.2 p.p.), India (+2 p.p.), Bangladesh (+1.9 p.p.) and Pakistan (+1.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) emerged as the largest preserved beef supplier in Asia, comprising 43% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports. It was followed by the United Arab Emirates, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +1.7%. In the other countries, the average annual rates were as follows: Malaysia (+71.0% per year) and the United Arab Emirates (+60.5% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, dropping by -12.9% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 an increase of 42% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.6%), while the other leaders experienced more modest paces of growth.

Preserved Beef Imports

Imports in Asia

In 2021, the amount of beef and veal (salted, in brine, dried or smoked) imported in Asia soared to X tons, picking up by 85% against the previous year's figure. Over the period under review, imports, however, continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2020 with an increase of 206% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved beef imports skyrocketed to $X in 2021. Overall, imports continue to indicate a modest expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR prevails in imports structure, recording X tons, which was near 90% of total imports in 2021. The following importers - the United Arab Emirates (X tons) and China (X tons) - together made up 4.8% of total imports.

Hong Kong SAR was also the fastest-growing in terms of the beef and veal (salted, in brine, dried or smoked) imports, with a CAGR of +88.6% from 2012 to 2021. At the same time, the United Arab Emirates (+2.0%) displayed positive paces of growth. By contrast, China (-6.4%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+90 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported beef and veal (salted, in brine, dried or smoked) in Asia, comprising 78% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.9% share of total imports.

In Hong Kong SAR, preserved beef imports increased at an average annual rate of +64.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.9% per year) and China (-0.8% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with an increase of 38% against the previous year. Over the period under review, the import price posted a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of 75% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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