Asia-Pacific: Canned Meat Market 2024

Canned Meat Market Size in Asia-Pacific

The Asia-Pacific canned meat market was finally on the rise to reach $X in 2021, after three years of decline. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.6% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Canned Meat Production in Asia-Pacific

In value terms, canned meat production amounted to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.4% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 18%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Canned Meat Exports

Exports in Asia-Pacific

In 2021, approx. X tons of canned meat were exported in Asia-Pacific; picking up by 4.9% on the year before. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 6.8% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, canned meat exports reached $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 10%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand was the key exporter of canned meat in Asia-Pacific, with the volume of exports reaching X tons, which was approx. 55% of total exports in 2021. It was distantly followed by China (X tons), comprising a 36% share of total exports. Malaysia (X tons), Australia (X tons) and New Zealand (X tons) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +5.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest canned meat supplying countries in Asia-Pacific were Thailand ($X), China ($X) and New Zealand ($X), with a combined 91% share of total exports. These countries were followed by Malaysia and Australia, which together accounted for a further 5.4%.

Among the main exporting countries, Malaysia, with a CAGR of +5.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, falling by -2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 7.3%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+4.0%), while the other leaders experienced more modest paces of growth.

Canned Meat Imports

Imports in Asia-Pacific

In 2021, overseas purchases of canned meat decreased by -1.3% to X tons, falling for the third year in a row after two years of growth. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 13%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, canned meat imports expanded modestly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 13% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Japan was the main importing country with an import of about X tons, which amounted to 66% of total imports. It was distantly followed by Hong Kong SAR (X tons), generating a 14% share of total imports. South Korea (X tons), Singapore (X tons), the Philippines (X tons), Australia (X tons) and China (X tons) took a minor share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of canned meat. At the same time, China (+42.7%), South Korea (+4.9%), Singapore (+2.9%) and the Philippines (+1.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +42.7% from 2012-2021. By contrast, Australia (-1.3%) and Hong Kong SAR (-8.6%) illustrated a downward trend over the same period. Japan (+8 p.p.), South Korea (+1.7 p.p.) and China (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -14.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported canned meat in Asia-Pacific, comprising 68% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 12% share of total imports. It was followed by South Korea, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-3.3% per year) and South Korea (+6.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, picking up by 3.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2016 an increase of 4.8%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+38.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :