Asia: Market for Salted, Dried or Smoked Meat, and Offal 2024

Market Size for Salted, Dried or Smoked Meat, and Offal in Asia

After three years of decline, the Asian market for salted, dried or smoked meat, and offal increased by 0.5% to $X in 2022. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in Asia

In value terms, production of salted, dried or smoked meat, and offal declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 23%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports in Asia

After three years of decline, overseas shipments of salted, dried or smoked meat, and offal increased by 7.5% to X tons in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -31.0% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 78% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, exports of salted, dried or smoked meat, and offal skyrocketed to $X in 2022. In general, exports enjoyed a resilient increase. The growth pace was the most rapid in 2013 with an increase of 71%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand prevails in offal structure, finishing at X tons, which was near 80% of total exports in 2022. Indonesia (X tons) took a 6.6% share (based on physical terms) of total exports, which put it in second place, followed by Pakistan (5.1%). The following exporters - Hong Kong SAR (X tons) and Vietnam (X tons) - each resulted at a 3.8% share of total exports.

Exports from Thailand increased at an average annual rate of +7.2% from 2012 to 2022. At the same time, Pakistan (+50.5%), Vietnam (+44.8%), Indonesia (+23.9%) and Hong Kong SAR (+8.8%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +50.5% from 2012-2022. While the share of Pakistan (+5.1 p.p.), Indonesia (+5 p.p.) and Vietnam (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest salted, dried or smoked meat, and offal supplier in Asia, comprising 76% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 6.2% share of total exports. It was followed by Indonesia, with a 4.4% share.

In Thailand, exports of salted, dried or smoked meat, and offal expanded at an average annual rate of +7.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+14.6% per year) and Indonesia (+27.0% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by 34% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2018; however, from 2019 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 Hong Kong SAR ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+9.5%), while the other leaders experienced more modest paces of growth.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports in Asia

In 2022, approx. X tons of salted, dried or smoked meat, and offal were imported in Asia; growing by 15% on 2021 figures. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 27%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of salted, dried or smoked meat, and offal soared to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Hong Kong SAR (X tons) represented the key importer of salted, dried or smoked meat, and offal, comprising 47% of total imports. It was distantly followed by Japan (X tons), China (X tons), Lao People's Democratic Republic (X tons), Singapore (X tons) and South Korea (X tons), together creating a 35% share of total imports. Taiwan (Chinese) (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to salted, dried or smoked meat, and offal imports into Hong Kong SAR stood at +10.0%. At the same time, Taiwan (Chinese) (+37.2%), China (+29.0%) and South Korea (+6.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia, with a CAGR of +37.2% from 2012-2022. Japan and Singapore experienced a relatively flat trend pattern. By contrast, Lao People's Democratic Republic (-8.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hong Kong SAR, China, Taiwan (Chinese) and South Korea increased by +25, +5.7, +3.2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported salted, dried or smoked meat, and offal in Asia, comprising 39% of total imports. The second position in the ranking was taken by Japan ($X), with a 17% share of total imports. It was followed by China, with a 15% share.

In Hong Kong SAR, imports of salted, dried or smoked meat, and offal increased at an average annual rate of +12.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.2% per year) and China (+33.6% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by 2.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2016 an increase of 13%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 China ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform