China: Processed Meat Market 2024

Processed Meat Market Size in China

The Chinese processed meat market totaled $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Processed meat consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Processed Meat Production in China

In value terms, processed meat production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Processed Meat Exports

Exports from China

In 2022, shipments abroad of processed meat increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, processed meat exports expanded significantly to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for processed meat exports from China, accounting for a X% share of total exports. Moreover, processed meat exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and the Netherlands (X% per year).

In value terms, Japan ($X) remains the key foreign market for processed meat exports from China, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average processed meat export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a slight descent. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into China

In 2022, the amount of processed meat imported into China shrank dramatically to X tons, with a decrease of X% compared with the previous year. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, processed meat imports dropped rapidly to $X in 2022. Overall, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

Mongolia (X tons), Spain (X tons) and Vietnam (X tons) were the main suppliers of processed meat imports to China, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of processed meat to China, comprising X% of total imports. The second position in the ranking was taken by Mongolia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mongolia (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average processed meat import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price recorded resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform