Asia: Canned Meat Market 2024

Canned Meat Market Size in Asia

The Asian canned meat market reduced modestly to $X in 2021, declining by -1.6% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Canned Meat Production in Asia

In value terms, canned meat production reached $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Canned Meat Exports

Exports in Asia

Canned meat exports rose significantly to X tons in 2021, with an increase of 5.6% on 2020. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 9% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, canned meat exports stood at $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 9.1% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the major exporting country with an export of around X tons, which reached 50% of total exports. It was distantly followed by China (X tons), achieving a 32% share of total exports. The following exporters - Turkey (X tons), the United Arab Emirates (X tons), Malaysia (X tons) and Saudi Arabia (X tons) - together made up 13% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +26.8%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2021, with a combined 88% share of total exports.

The United Arab Emirates, with a CAGR of +18.7%, saw the highest growth rate of the value of exports, among the main exporting countries 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 Asia stood at $X per ton in 2021, declining by -3.5% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 6.7% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Canned Meat Imports

Imports in Asia

In 2021, supplies from abroad of canned meat decreased by -0.5% to X tons, falling for the third consecutive year after two years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 11%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, canned meat imports expanded modestly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 8.8% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) represented the major importer of canned meat, achieving 58% of total imports. It was distantly followed by Hong Kong SAR (X tons), committing a 12% share of total imports. South Korea (X tons), Singapore (X tons), Saudi Arabia (X tons), the Philippines (X tons), the United Arab Emirates (X tons) and Iraq (X tons) held a little share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of canned meat. At the same time, Saudi Arabia (+8.2%), South Korea (+4.9%), the United Arab Emirates (+4.2%), Singapore (+2.9%) and the Philippines (+1.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in Asia, with a CAGR of +8.2% from 2012-2021. Iraq experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-8.6%) illustrated a downward trend over the same period. Japan (+4.1 p.p.) and Saudi Arabia (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -14.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported canned meat in Asia, comprising 62% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an 11% share of total imports. It was followed by South Korea, with a 3.8% share.

From 2012 to 2021, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: Hong Kong SAR (-3.3% per year) and South Korea (+6.9% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, growing by 2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2018 when the import price increased by 4.4%. Over the period under review, import prices reached the peak figure in 2021 and is likely to see gradual 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 ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+38.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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