Asia: Preserved Turkey Market 2024

Preserved Turkey Market Size in Asia

The Asian preserved turkey market rose remarkably to $X in 2021, growing by 5.4% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Preserved Turkey Production in Asia

In value terms, preserved turkey production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 15% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Preserved Turkey Exports

Exports in Asia

In 2021, the amount of prepared or preserved meat or offal of turkeys exported in Asia declined significantly to X tons, which is down by -50.4% compared with 2020. Overall, exports, however, continue to indicate a temperate increase. The pace of growth was the most pronounced in 2018 when exports increased by 77% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved turkey exports declined sharply to $X in 2021. Over the period under review, exports, however, saw tangible growth. The most prominent rate of growth was recorded in 2018 when exports increased by 55%. The level of export peaked at $X in 2020, and then fell significantly in the following year.

Exports by Country

Israel was the largest exporting country with an export of around X tons, which amounted to 54% of total exports. It was distantly followed by the United Arab Emirates (X tons) and Turkey (X tons), together achieving a 29% share of total exports. Saudi Arabia (X tons) and China (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to preserved turkey exports from Israel stood at +12.6%. At the same time, China (+34.6%), the United Arab Emirates (+26.6%) and Turkey (+5.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of +34.6% from 2012-2021. By contrast, Saudi Arabia (-19.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Israel, the United Arab Emirates and China increased by +28, +20 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest preserved turkey supplying countries in Asia were Israel ($X), the United Arab Emirates ($X) and Turkey ($X), together comprising 87% of total exports. Saudi Arabia and China lagged somewhat behind, together comprising a further 5.4%.

In terms of the main exporting countries, China, with a CAGR of +40.9%, recorded 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, growing by 7.4% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 21%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Preserved Turkey Imports

Imports in Asia

In 2021, overseas purchases of prepared or preserved meat or offal of turkeys decreased by -53.6% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 82% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved turkey imports contracted remarkably to $X in 2021. In general, imports, however, continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2013 with an increase of 98% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Jordan (X tons), Kuwait (X tons), Lebanon (X tons), the United Arab Emirates (X tons), Cyprus (X tons), Qatar (X tons) and Singapore (X tons) were the largest importers of prepared or preserved meat or offal of turkeys, together creating 74% of total imports. Japan (X tons), Hong Kong SAR (X tons), Bahrain (X tons), Thailand (X tons) and Georgia (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +57.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Jordan ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2021, with a combined 40% share of total imports. The United Arab Emirates, Qatar, Singapore, Lebanon, Thailand, Cyprus, Japan, Bahrain, Hong Kong SAR and Georgia lagged somewhat behind, together comprising a further 49%.

Thailand, with a CAGR of +69.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, picking up by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+9.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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