Asia: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Asia

The Asian preserved cows meat market expanded modestly to $X in 2021, with an increase of 3.6% against the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.7% 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 -4.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Cows Meat Production in Asia

In value terms, preserved cows meat production totaled $X in 2021 estimated in export price. In general, production showed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Preserved Cows Meat Exports

Exports in Asia

In 2021, overseas shipments of prepared or preserved meat or offal of bovine animals decreased by -0.7% to X tons, falling for the second year in a row after two years of growth. In general, exports continue to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2019 with an increase of 77% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, preserved cows meat exports rose significantly to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 39% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Jordan (X tons) and China (X tons) represented roughly 51% of total exports in 2021. The United Arab Emirates (X tons) held the next position in the ranking, followed by India (X tons), Hong Kong SAR (X tons), Turkey (X tons) and Malaysia (X tons). All these countries together took near 31% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +54.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Jordan ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 65% of total exports. Malaysia, Turkey, Hong Kong SAR, Vietnam and India lagged somewhat behind, together comprising a further 20%.

In terms of the main exporting countries, Vietnam, with a CAGR of +60.4%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 7.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 when the export price increased by 15%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while India ($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 United Arab Emirates (+5.9%), while the other leaders experienced more modest paces of growth.

Preserved Cows Meat Imports

Imports in Asia

In 2021, approx. X tons of prepared or preserved meat or offal of bovine animals were imported in Asia; with a decrease of -12.3% compared with the previous year. Overall, imports showed a noticeable decrease. The pace of growth was the most pronounced in 2013 when imports increased by 35%. 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, preserved cows meat imports stood at $X in 2021. In general, imports saw a slight curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 15%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons) was the key importer of prepared or preserved meat or offal of bovine animals, generating 31% of total imports. Japan (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons), Singapore (X tons) and the Philippines (X tons). All these countries together took near 29% share of total imports. The following importers - Indonesia (X tons), Iraq (X tons), Saudi Arabia (X tons), South Korea (X tons), China (X tons), Kazakhstan (X tons), Bahrain (X tons) and Kuwait (X tons) - together made up 24% of total imports.

From 2012 to 2021, average annual rates of growth with regard to preserved cows meat imports into Hong Kong SAR stood at -7.4%. At the same time, China (+40.5%), the Philippines (+19.3%), Kazakhstan (+11.6%), Indonesia (+10.9%), Bahrain (+7.0%), the United Arab Emirates (+3.9%), South Korea (+2.5%) and Singapore (+2.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of +40.5% from 2012-2021. Kuwait experienced a relatively flat trend pattern. By contrast, Japan (-3.7%), Saudi Arabia (-5.3%) and Iraq (-15.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+4.3 p.p.), the Philippines (+4.1 p.p.), Indonesia (+3.3 p.p.), China (+2.9 p.p.), Singapore (+2.8 p.p.) and Kazakhstan (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Iraq (-8.4 p.p.) and Hong Kong SAR (-10.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported prepared or preserved meat or offal of bovine animals in Asia, comprising 30% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Singapore, with a 9.3% share.

In Hong Kong SAR, preserved cows meat imports contracted by an average annual rate of -3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-6.0% per year) and Singapore (+4.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2016 when the import price increased by 18% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Kazakhstan ($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 (+31.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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