Asia-Pacific: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Asia-Pacific

In 2022, the Asia-Pacific market for frozen pig meat other than cuts or carcases decreased by -23.7% to $X, falling for the second year in a row after six years of growth. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% 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 -24.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Asia-Pacific

In value terms, production of frozen pig meat other than cuts or carcases reduced notably to $X in 2022 estimated in export price. Overall, production recorded a pronounced downturn. The growth pace was the most rapid in 2021 when the production volume increased by 50% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

India (X tons) remains the largest frozen pig meat other than cuts or carcases producing country in Asia-Pacific, accounting for 54% of total volume. Moreover, production of frozen pig meat other than cuts or carcases in India exceeded the figures recorded by the second-largest producer, Bangladesh (X tons), threefold. China (X tons) ranked third in terms of total production with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in India totaled +4.3%. In the other countries, the average annual rates were as follows: Bangladesh (-0.6% per year) and China (-15.7% per year).

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports in Asia-Pacific

In 2022, shipments abroad of frozen pig meat other than cuts or carcases increased by 13% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2014 when exports increased by 36%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of frozen pig meat other than cuts or carcases reduced slightly to $X in 2022. In general, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 39% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Hong Kong SAR (X tons), Australia (X tons), China (X tons) and Singapore (X tons) was the main exporter of frozen pig meat other than cuts or carcases in Asia-Pacific, comprising 95% of total export. Japan (X tons) took a little 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 Singapore (with a CAGR of +33.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest frozen pig meat other than cuts or carcases supplying countries in Asia-Pacific were China ($X), Hong Kong SAR ($X) and Singapore ($X), with a combined 76% share of total exports.

Among the main exporting countries, Singapore, with a CAGR of +28.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, reducing by -14.9% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen pig meat other than cuts or carcases decreased by -21.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 32% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports in Asia-Pacific

In 2022, purchases abroad of frozen pig meat other than cuts or carcases decreased by -22.6% to X tons, falling for the second year in a row after seven years of growth. Over the period under review, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 47%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of frozen pig meat other than cuts or carcases dropped markedly to $X in 2022. Overall, imports, however, showed a moderate increase. The pace of growth appeared the most rapid in 2020 when imports increased by 57% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X tons) represented the largest importer of frozen pig meat other than cuts or carcases, generating 38% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons), the Philippines (X tons) and Australia (X tons), together making up a 47% share of total imports. The following importers - Hong Kong SAR (X tons) and Vietnam (X tons) - each reached a 7.7% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen pig meat other than cuts or carcases imports into China stood at +13.1%. At the same time, Vietnam (+23.9%), the Philippines (+19.8%), South Korea (+3.6%), Australia (+2.2%) and Japan (+1.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +23.9% from 2012-2022. By contrast, Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. While the share of China (+18 p.p.), the Philippines (+6.3 p.p.) and Vietnam (+2.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (-2.6 p.p.), South Korea (-4.6 p.p.), Hong Kong SAR (-6.6 p.p.) and Japan (-11.7 p.p.) displayed negative dynamics.

In value terms, the largest frozen pig meat other than cuts or carcases importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined 73% share of total imports. Australia, the Philippines, Hong Kong SAR and Vietnam lagged somewhat behind, together comprising a further 19%.

Among the main importing countries, Vietnam, with a CAGR of +25.9%, saw the highest rates of growth with regard to the value of imports, 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, dropping by -9.3% against the previous year. Overall, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2020 an increase of 6.8% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the Philippines ($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 (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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