Asia: Meat Market 2024

Meat Market Size in Asia

The Asian meat market declined modestly to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Meat Production in Asia

In value terms, meat production stood at $X in 2022 estimated in export price. The total output 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. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of meat production was China (X tons), accounting for X% of total volume. Moreover, meat production in China exceeded the figures recorded by the second-largest producer, India (X tons), ninefold. Pakistan (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (X% per year) and Pakistan (X% per year).

The average meat yield declined to X kg per head in 2022, waning by X% on the previous year's figure. Overall, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the yield attained the peak level of X kg per head, and then fell slightly in the following year.

The global number of animals slaughtered for meat production reduced to X heads in 2022, with a decrease of X% compared with the year before. Overall, the number of producing animals continues to indicate a slight contraction. The growth pace was the most rapid in 2021 when the number of producing animals increased by X% against the previous year. The level of producing animals peaked at X heads in 2015; however, from 2016 to 2022, producing animals remained at a lower figure.

Meat Exports

Exports in Asia

In 2022, overseas shipments of meat increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, meat exports rose slightly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Pakistan (X tons) and Hong Kong SAR (X tons), together achieving a X% share of total exports. The United Arab Emirates (X tons), China (X tons), Kazakhstan (X tons) and Singapore (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of meat. At the same time, Kazakhstan (X%), the United Arab Emirates (X%), Singapore (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, the United Arab Emirates, Kazakhstan and Pakistan increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest meat supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports. It was followed by China, with a X% share.

In India, meat exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then reduced in the following year.

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 China ($X per ton), while Hong Kong SAR ($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 (X%), while the other leaders experienced more modest paces of growth.

Meat Imports

Imports in Asia

In 2022, overseas purchases of meat decreased by X% to X tons, falling for the second year in a row after nine years of growth. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, meat imports contracted slightly to $X in 2022. Over the period under review, imports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

China was the key importing country with an import of around X tons, which recorded X% of total imports. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%) and the Philippines (X%). The following importers - Vietnam (X tons), Malaysia (X tons), Hong Kong SAR (X tons), the United Arab Emirates (X tons) and Indonesia (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the meat imports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%), the Philippines (X%), Malaysia (X%), the United Arab Emirates (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. By contrast, Vietnam (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the Philippines and Indonesia increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while the Philippines ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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