Asia: Frozen Pork Carcase Market 2024

Frozen Pork Carcase Market Size in Asia

The Asian frozen pork carcase market amounted to $X in 2022, rising by 1.8% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.2% against 2016 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Frozen Pork Carcase Production in Asia

In value terms, frozen pork carcase production stood at $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 58%. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

China (X tons) constituted the country with the largest volume of frozen pork carcase production, comprising approx. 64% of total volume. Moreover, frozen pork carcase production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 4.2% share.

In China, frozen pork carcase production increased at an average annual rate of +5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+4.9% per year) and Thailand (+2.7% per year).

Frozen Pork Carcase Exports

Exports in Asia

In 2022, exports of frozen carcases of pig meat in Asia contracted markedly to X tons, with a decrease of -20.9% compared with 2021. In general, exports recorded a noticeable descent. The growth pace was the most rapid in 2021 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen pork carcase exports contracted dramatically to $X in 2022. Over the period under review, exports saw a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of 50%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam prevails in exports structure, accounting for X tons, which was approx. 73% of total exports in 2022. Georgia (X tons) held the second position in the ranking, followed by India (X tons) and China (X tons). All these countries together held approx. 20% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen pork carcase exports from Vietnam stood at -3.9%. At the same time, India (+63.0%) and Georgia (+51.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +63.0% from 2012-2022. By contrast, Hong Kong SAR (-1.4%) and China (-16.8%) illustrated a downward trend over the same period. Georgia (+8.2 p.p.), India (+6 p.p.) and Vietnam (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -18.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen pork carcase supplier in Asia, comprising 69% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 9.1% share of total exports. It was followed by China, with a 7.2% share.

In Vietnam, frozen pork carcase exports decreased by an average annual rate of -4.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+3.4% per year) and China (-20.4% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 2.3% against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 24% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Frozen Pork Carcase Imports

Imports in Asia

In 2022, the amount of frozen carcases of pig meat imported in Asia expanded to X tons, with an increase of 3.3% against the year before. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.0% 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 +88.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, frozen pork carcase imports contracted modestly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 67%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The Philippines was the major importing country with an import of about X tons, which finished at 38% of total imports. Hong Kong SAR (X tons) held the second position in the ranking, distantly followed by Armenia (X tons), China (X tons) and Georgia (X tons). All these countries together took near 50% share of total imports. The following importers - Bhutan (X tons) and Democratic People's Republic of Korea (X tons) - each recorded a 4.3% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +47.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen pork carcase importing markets in Asia were Hong Kong SAR ($X), the Philippines ($X) and Armenia ($X), together accounting for 69% of total imports. China, Georgia, Democratic People's Republic of Korea and Bhutan lagged somewhat behind, together comprising a further 17%.

In terms of the main importing countries, Bhutan, with a CAGR of +50.1%, recorded the highest growth rate of the value of imports, 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 Asia stood at $X per ton in 2022, with a decrease of -7% against the previous year. Over the period under review, the import price recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2014 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :