China: Preserved Beef Market 2024

Preserved Beef Market Size in China

The Chinese preserved beef market totaled $X in 2021, flattening at the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Preserved Beef Production in China

In value terms, preserved beef production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 35% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Preserved Beef Exports

Exports from China

In 2021, overseas shipments of beef and veal (salted, in brine, dried or smoked) increased by 573% to X tons, rising for the third consecutive year after three years of decline. Overall, exports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2014 when exports increased by 1,782% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved beef exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 1,489%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for preserved beef exports from China, accounting for a 67% share of total exports. Moreover, preserved beef exports to Australia exceeded the volume sent to the second major destination, Malaysia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +56,946.2%.

In value terms, Australia ($X) remains the key foreign market for beef and veal (salted, in brine, dried or smoked) exports from China, comprising 82% of total exports. The second position in the ranking was held by Malaysia ($X), with a 6.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia stood at +71,166.2%.

Export Prices by Country

The average preserved beef export price stood at $X per ton in 2021, approximately reflecting the previous year. In general, the export price, however, showed a mild curtailment. The growth pace was the most rapid in 2016 when the average export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Malaysia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+28.8%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Beef Imports

Imports into China

In 2021, overseas purchases of beef and veal (salted, in brine, dried or smoked) decreased by -28.9% to X tons for the first time since 2015, thus ending a five-year rising trend. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when imports increased by 126%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, preserved beef imports dropped to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 131% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of preserved beef imports to China, with a combined 100% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +350.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to China, comprising 78% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by South Korea, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value from Vietnam totaled +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+255.2% per year) and South Korea (-26.1% per year).

Import Prices by Country

In 2021, the average preserved beef import price amounted to $X per ton, picking up by 34% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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