Eastern Asia: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Eastern Asia

In 2022, the East Asian market for frozen pig meat other than cuts or carcases decreased by -34.7% to $X, falling for the second consecutive year after six years of growth. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 -38.6% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Eastern Asia

In value terms, production of frozen pig meat other than cuts or carcases dropped rapidly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep reduction. The growth pace was the most rapid in 2021 when the production volume increased by 773% against the previous year. Over the period under review, production of attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of production of frozen pig meat other than cuts or carcases was China (X tons), accounting for 93% of total volume. Moreover, production of frozen pig meat other than cuts or carcases in China exceeded the figures recorded by the second-largest producer, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at -15.7%.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports in Eastern Asia

In 2022, overseas shipments of frozen pig meat other than cuts or carcases increased by 9.3% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 43%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of frozen pig meat other than cuts or carcases reduced slightly to $X in 2022. Over the period under review, exports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 43%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR represented the largest exporter of frozen pig meat other than cuts or carcases in Eastern Asia, with the volume of exports finishing at X tons, which was approx. 60% of total exports in 2022. It was distantly followed by China (X tons), committing a 35% share of total exports. Japan (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Japan (with a CAGR of +25.2%), while the other leaders experienced a decline in the exports figures.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 99% share of total exports.

Japan, with a CAGR of +20.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, with a decrease of -12.9% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for frozen pig meat other than cuts or carcases decreased by -21.8% against 2020 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 35%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports in Eastern Asia

In 2022, overseas purchases of frozen pig meat other than cuts or carcases decreased by -30.1% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 54%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of frozen pig meat other than cuts or carcases fell significantly to $X in 2022. Overall, imports, however, showed tangible growth. The most prominent rate of growth was recorded in 2020 when imports increased by 63%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

China represented the key importer of frozen pig meat other than cuts or carcases in Eastern Asia, with the volume of imports finishing at X tons, which was near 49% of total imports in 2022. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons) and Hong Kong SAR (X tons). All these countries together held near 48% share of total imports. Taiwan (Chinese) (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the frozen pig meat other than cuts or carcases imports, with a CAGR of +13.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+9.9%), South Korea (+3.6%) and Japan (+1.0%) displayed positive paces of growth. By contrast, Hong Kong SAR (-3.2%) illustrated a downward trend over the same period. China (+24 p.p.) significantly strengthened its position in terms of the total imports, while South Korea, Hong Kong SAR and Japan saw its share reduced by -4.3%, -7.6% and -12.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen pig meat other than cuts or carcases importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together comprising 91% of total imports.

In terms of the main importing countries, China, with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, falling by -7.3% against the previous year. Over the period under review, the import price showed a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 5.8% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :