Eastern Asia: Canned Meat Market 2024

Canned Meat Market Size in Eastern Asia

The East Asian canned meat market amounted to $X in 2021, therefore, remained relatively stable against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.8% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Canned Meat Production in Eastern Asia

In value terms, canned meat production amounted to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.8% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 22%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Canned Meat Exports

Exports in Eastern Asia

In 2021, overseas shipments of canned meat were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2018 when exports increased by 13% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, canned meat exports expanded remarkably to $X in 2021. Overall, exports, however, recorded a perceptible slump. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, amounting to X tons, which was near 95% of total exports in 2021. The following exporters - South Korea (X tons) and Hong Kong SAR (X tons) - each recorded a 3.6% share of total exports.

Exports from China decreased at an average annual rate of -1.2% from 2012 to 2021. At the same time, South Korea (+8.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +8.8% from 2012-2021. By contrast, Hong Kong SAR (-20.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +7.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest canned meat supplier in Eastern Asia, comprising 94% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.1% share of total exports.

In China, canned meat exports plunged by an average annual rate of -2.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+9.0% per year) and Hong Kong SAR (-9.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, flattening at the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 9.7% against the previous year. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 (+13.3%), while the other leaders experienced mixed trends in the export price figures.

Canned Meat Imports

Imports in Eastern Asia

In 2021, supplies from abroad of canned meat decreased by -3.7% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports saw a slight curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 13% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, canned meat imports shrank modestly to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 14% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Japan represented the key importer of canned meat in Eastern Asia, with the volume of imports amounting to X tons, which was near 76% of total imports in 2021. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 16% share, followed by South Korea (5%). China (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of canned meat. At the same time, China (+42.7%) and South Korea (+4.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +42.7% from 2012-2021. By contrast, Hong Kong SAR (-8.6%) illustrated a downward trend over the same period. Japan (+11 p.p.), South Korea (+2.1 p.p.) and China (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -15.6% from 2012 to 2021, respectively.

In value terms, Japan ($X) constitutes the largest market for imported canned meat in Eastern Asia, comprising 79% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by South Korea, with a 4.8% share.

In Japan, canned meat imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (-3.3% per year) and South Korea (+6.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, rising by 3.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2016 when the import price increased by 4.8%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the near future.

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 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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