Eastern Asia: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Eastern Asia

In 2021, the East Asian prepared dish and meal market decreased by -5.8% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then declined in the following year.

Production of Prepared Dishes And Meals in Eastern Asia

In value terms, prepared dish and meal production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 26% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Prepared Dishes And Meals

Exports in Eastern Asia

In 2021, prepared dish and meal exports in Eastern Asia reached X tons, growing by 8.3% on 2020. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +79.8% against 2012 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 14% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, prepared dish and meal exports soared to $X in 2021. In general, exports saw a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 25% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China was the major exporter of prepared dishes and meals in Eastern Asia, with the volume of exports finishing at X tons, which was approx. 56% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with an 18% share, followed by Taiwan (Chinese) (16%), Japan (5.1%) and Hong Kong SAR (4.6%).

Exports from China increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Taiwan (Chinese) (+13.5%), Hong Kong SAR (+13.1%) and Japan (+10.9%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.5% from 2012-2021. South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (+6.9 p.p.), China (+4.9 p.p.) and Hong Kong SAR (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -15.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2021, with a combined 74% share of total exports.

Hong Kong SAR, with a CAGR of +29.2%, 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 more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 6.5% against the previous year. Export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared dish and meal export price increased by +73.5% against 2013 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 15% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+14.2%), while the other leaders experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports in Eastern Asia

Prepared dish and meal imports amounted to X tons in 2021, growing by 5.5% compared with 2020. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 8.4%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, prepared dish and meal imports expanded significantly to $X in 2021. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

Japan (X tons) and China (X tons) represented roughly 66% of total imports in 2021. South Korea (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (11%) and Hong Kong SAR (10%).

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +16.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared dish and meal importing markets in Eastern Asia were China ($X), South Korea ($X) and Hong Kong SAR ($X), together accounting for 80% of total imports.

In terms of the main importing countries, China, with a CAGR of +21.2%, recorded the highest growth rate of 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 2021, increasing by 5.5% against the previous year. Import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared dish and meal import price increased by +97.1% against 2012 indices. The most prominent rate of growth was recorded in 2016 an increase of 16%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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