Asia-Pacific: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Asia-Pacific

The Asia-Pacific fresh beef carcase market fell modestly to $X in 2022, approximately reflecting the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.8% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fresh Beef Carcase Production in Asia-Pacific

In value terms, fresh beef carcase production reduced slightly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% 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 +0.5% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 17%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Fresh Beef Carcase Exports

Exports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in shipments abroad of fresh or chilled carcases of beef and veal, when their volume decreased by -72.4% to X tons. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when exports increased by 26% against the previous year. The volume of export peaked at X tons in 2021, and then contracted notably in the following year.

In value terms, fresh beef carcase exports dropped sharply to $X in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined significantly in the following year.

Exports by Country

Pakistan was the key exporting country with an export of about X tons, which reached 57% of total exports. It was distantly followed by Australia (X tons) and New Zealand (X tons), together creating a 42% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by New Zealand (with a CAGR of +6.0%), while the other leaders experienced a decline in the exports figures.

In value terms, Australia ($X) emerged as the largest fresh beef carcase supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was held by Pakistan ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia totaled +5.2%. In the other countries, the average annual rates were as follows: Pakistan (-6.8% per year) and New Zealand (+9.7% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 60% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh beef carcase export price increased by +88.9% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+9.2%), while the other leaders experienced more modest paces of growth.

Fresh Beef Carcase Imports

Imports in Asia-Pacific

In 2022, overseas purchases of fresh or chilled carcases of beef and veal increased by 11% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +33.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, fresh beef carcase imports expanded significantly to $X in 2022. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2021 when imports increased by 48% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

South Korea represented the main importer of fresh or chilled carcases of beef and veal in Asia-Pacific, with the volume of imports recording X tons, which was near 40% of total imports in 2022. It was distantly followed by Bhutan (X tons) and Afghanistan (X tons), together committing a 38% share of total imports. Japan (X tons), Taiwan (Chinese) (X tons), China (X tons), Singapore (X tons) and Samoa (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Japan (with a CAGR of +34.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constitutes the largest market for imported fresh or chilled carcases of beef and veal in Asia-Pacific, comprising 49% of total imports. The second position in the ranking was held by Bhutan ($X), with a 16% share of total imports. It was followed by Japan, with a 7.3% share.

In South Korea, fresh beef carcase imports increased at an average annual rate of +12.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Bhutan (+19.3% per year) and Japan (+41.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the import price showed a prominent increase. The pace of growth was the most pronounced in 2021 an increase of 23% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bhutan (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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