Asia-Pacific: Frozen Pork Cut Market 2024

Frozen Pork Cut Market Size in Asia-Pacific

After four years of growth, the Asia-Pacific frozen pork cut market decreased by -40.7% to $X in 2022. In general, consumption, however, recorded a remarkable increase. The level of consumption peaked at $X in 2021, and then declined notably in the following year.

Frozen Pork Cut Production in Asia-Pacific

In value terms, frozen pork cut production shrank to $X in 2022 estimated in export price. In general, production, however, enjoyed buoyant growth. The growth pace was the most rapid in 2017 when the production volume increased by 40%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Bangladesh (X tons) and Thailand (X tons), with a combined 80% share of total production. Australia, Sri Lanka and Nepal lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Australia (with a CAGR of +7.8%), while production for the other leaders experienced more modest paces of growth.

Frozen Pork Cut Exports

Exports in Asia-Pacific

In 2022, the amount of frozen hams, shoulders and cuts of pig meat exported in Asia-Pacific shrank sharply to X tons, reducing by -21.4% compared with the year before. Over the period under review, exports saw a slight downturn. The pace of growth was the most pronounced in 2014 with an increase of 45%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, frozen pork cut exports fell markedly to $X in 2022. In general, exports saw a slight decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 39%. The level of export peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

Australia represented the main exporter of frozen hams, shoulders and cuts of pig meat in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 63% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons) and Singapore (X tons), together generating a 30% share of total exports. Thailand (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen pork cut exports from Australia stood at +12.0%. At the same time, Singapore (+34.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +34.6% from 2012-2022. By contrast, Thailand (-6.7%) and Hong Kong SAR (-11.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia and Singapore increased by +45 and +4.4 percentage points, respectively.

In value terms, Australia ($X) remains the largest frozen pork cut supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by Thailand, with a 5% share.

In Australia, frozen pork cut exports increased at an average annual rate of +7.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (-11.1% per year) and Thailand (-2.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, surging by 1.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 15% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.1%), while the other leaders experienced a decline in the export price figures.

Frozen Pork Cut Imports

Imports in Asia-Pacific

After three years of growth, purchases abroad of frozen hams, shoulders and cuts of pig meat decreased by -50.1% to X tons in 2022. In general, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2020 with an increase of 111%. The volume of import peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, frozen pork cut imports dropped rapidly to $X in 2022. Overall, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 164% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

China was the largest importer of frozen hams, shoulders and cuts of pig meat in Asia-Pacific, with the volume of imports resulting at X tons, which was near 80% of total imports in 2022. It was distantly followed by the Philippines (X tons), comprising a 12% share of total imports. Vietnam (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen pork cut imports into China stood at +12.0%. At the same time, Vietnam (+40.0%) and the Philippines (+26.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +40.0% from 2012-2022. From 2012 to 2022, the share of the Philippines, China and Vietnam increased by +8.6, +4.3 and +3.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported frozen hams, shoulders and cuts of pig meat in Asia-Pacific, comprising 83% of total imports. The second position in the ranking was held by the Philippines ($X), with a 9.5% share of total imports.

In China, frozen pork cut imports increased at an average annual rate of +11.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+27.2% per year) and Vietnam (+38.5% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, declining by -17.7% against the previous year. In general, the import price continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2020 when the import price increased by 25% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced rapidly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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