Eastern Asia: Frozen Pork Carcase Market 2024

Frozen Pork Carcase Market Size in Eastern Asia

The East Asian frozen pork carcase market expanded modestly to $X in 2022, rising by 2% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.5% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Frozen Pork Carcase Production in Eastern Asia

In value terms, frozen pork carcase production amounted to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 52%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

China (X tons) constituted the country with the largest volume of frozen pork carcase production, comprising approx. 99.9% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China totaled +5.1%.

Frozen Pork Carcase Exports

Exports in Eastern Asia

Frozen pork carcase exports fell to X tons in 2022, which is down by -10.3% against the year before. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by 68%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen pork carcase exports shrank notably to $X in 2022. Over the period under review, exports saw a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 56%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the key exporter of frozen carcases of pig meat in Eastern Asia, with the volume of exports accounting for X tons, which was near 62% of total exports in 2022. It was distantly followed by Hong Kong SAR (X tons), generating a 38% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of -1.4%).

In value terms, Hong Kong SAR ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Hong Kong SAR, with a CAGR of +3.4%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, shrinking by -26.5% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 39% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, 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 Hong Kong SAR ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.8%).

Frozen Pork Carcase Imports

Imports in Eastern Asia

In 2022, imports of frozen carcases of pig meat in Eastern Asia surged to X tons, growing by 20% against 2021. Overall, imports, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2019 with an increase of 30% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen pork carcase imports reduced to $X in 2022. Over the period under review, imports, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 48%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR was the major importing country with an import of about X tons, which recorded 64% of total imports. China (X tons) held the second position in the ranking, distantly followed by Democratic People's Republic of Korea (X tons) and Macao SAR (X tons). All these countries together held near 36% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen pork carcase imports into Hong Kong SAR stood at -5.3%. At the same time, China (+15.8%) and Democratic People's Republic of Korea (+10.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +15.8% from 2012-2022. By contrast, Macao SAR (-3.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Democratic People's Republic of Korea increased by +20 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported frozen carcases of pig meat in Eastern Asia, comprising 72% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Macao SAR, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR stood at -4.4%. In the other countries, the average annual rates were as follows: China (+21.1% per year) and Macao SAR (+1.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, falling by -18.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 24% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Macao SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :