Asia-Pacific: Bacon And Ham Market 2024

Bacon And Ham Market Size in Asia-Pacific

The Asia-Pacific bacon and ham market shrank slightly to $X in 2022, waning by -2.5% against the previous year. In general, consumption, however, saw a mild downturn. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Bacon And Ham Production in Asia-Pacific

In value terms, bacon and ham production dropped to $X in 2022 estimated in export price. In general, production, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by 26%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Bacon And Ham Exports

Exports in Asia-Pacific

In 2022, shipments abroad of bacon, ham and other dried, salted or smoked pig meat increased by 16% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 81%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, bacon and ham exports expanded modestly to $X in 2022. Over the period under review, exports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 63% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Australia (X tons), distantly followed by China (X tons), New Zealand (X tons), Hong Kong SAR (X tons) and India (X tons) were the main exporters of bacon, ham and other dried, salted or smoked pig meat, together achieving 82% of total exports. The following exporters - Singapore (X tons) and Thailand (X tons) - together made up 7.6% of total exports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +23.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), New Zealand ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2022, with a combined 53% share of total exports.

New Zealand, with a CAGR of +23.9%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in Asia-Pacific amounted to $X per ton, waning by -12.2% against the previous year. Over the period under review, the export price, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 an increase of 34%. The level of export peaked at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+15.0%), while the other leaders experienced more modest paces of growth.

Bacon And Ham Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of bacon, ham and other dried, salted or smoked pig meat increased by 0.9% to X tons, rising for the second consecutive year after six years of decline. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 29%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, bacon and ham imports fell slightly to $X in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X, and then fell slightly in the following year.

Imports by Country

The purchases of the seven major importers of bacon, ham and other dried, salted or smoked pig meat, namely Japan, Hong Kong SAR, China, Australia, New Zealand, Singapore and South Korea, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +44.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Australia ($X) were the countries with the highest levels of imports in 2022, together accounting for 56% of total imports.

China, with a CAGR of +36.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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-Pacific stood at $X per ton in 2022, shrinking by -2.8% against the previous year. Import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham import price increased by +65.7% against 2014 indices. The most prominent rate of growth was recorded in 2017 an increase of 13%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then fell slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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