Eastern Asia: Meat-Preparation Industrial Machinery Market 2024

Meat-Preparation Industrial Machinery Market Size in Eastern Asia

The East Asian meat-preparation industrial machinery market skyrocketed to $X in 2022, jumping by 40% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Meat-Preparation Industrial Machinery Production in Eastern Asia

In value terms, meat-preparation industrial machinery production rose modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Meat-Preparation Industrial Machinery Exports

Exports in Eastern Asia

In 2022, shipments abroad of industrial machinery for the preparation of meat or poultry increased by 97% to X units, rising for the third year in a row after two years of decline. Overall, exports showed prominent growth. The growth pace was the most rapid in 2021 with an increase of 126% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, meat-preparation industrial machinery exports declined slightly to $X in 2022. In general, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 47% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

China (X units) represented roughly 99% of total exports in 2022.

China was also the fastest-growing in terms of the industrial machinery for the preparation of meat or poultry exports, with a CAGR of +12.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest meat-preparation industrial machinery supplier in Eastern Asia.

In China, meat-preparation industrial machinery exports expanded at an average annual rate of +11.7% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, falling by -49.5% against the previous year. Over the period under review, the export price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2018 an increase of 42%. Over the period under review, the export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.1% per year.

Meat-Preparation Industrial Machinery Imports

Imports in Eastern Asia

In 2022, meat-preparation industrial machinery imports in Eastern Asia fell slightly to X units, which is down by -1.9% on 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, meat-preparation industrial machinery imports contracted significantly to $X in 2022. In general, imports recorded a perceptible curtailment. The pace of growth was the most pronounced in 2021 with an increase of 31%. As a result, imports attained the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Japan represented the largest importing country with an import of around X units, which recorded 49% of total imports. It was distantly followed by South Korea (X units), Taiwan (Chinese) (X units), China (X units) and Hong Kong SAR (X units), together comprising a 51% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to meat-preparation industrial machinery imports into Japan stood at +7.5%. At the same time, Taiwan (Chinese) (+17.7%) and China (+1.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +17.7% from 2012-2022. By contrast, Hong Kong SAR (-4.1%) and South Korea (-7.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan and Taiwan (Chinese) increased by +23 and +9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported industrial machinery for the preparation of meat or poultry in Eastern Asia, comprising 52% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by South Korea, with a 17% share.

In China, meat-preparation industrial machinery imports declined by an average annual rate of -2.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+1.0% per year) and South Korea (-7.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, reducing by -39.1% against the previous year. In general, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the import price increased by 50% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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