Eastern Asia: Meat Market 2024

Meat Market Size in Eastern Asia

The East Asian meat market declined to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Meat Production in Eastern Asia

In value terms, meat production stood at $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The country with the largest volume of meat production was China (X tons), comprising approx. X% of total volume. It was followed by Japan (X tons), with a X% share of total production.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Japan (X% per year) and South Korea (X% per year).

The average meat yield reduced to X kg per head in 2022, with a decrease of X% compared with the year before. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield attained the peak level of X kg per head, and then fell slightly in the following year.

In 2022, approx. X heads of animals slaughtered for meat production in Eastern Asia; which is down by X% compared with the previous year's figure. Over the period under review, the number of producing animals continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of producing animals peaked at X heads in 2015; however, from 2016 to 2022, producing animals failed to regain momentum.

Meat Exports

Exports in Eastern Asia

In 2022, overseas shipments of meat increased by X% to X tons, rising for the second consecutive year after six years of decline. Over the period under review, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, meat exports declined to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Hong Kong SAR (X tons) represented the largest exporter of meat, creating X% of total exports. China (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%).

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest meat supplying countries in Eastern Asia were Japan ($X), China ($X) and Hong Kong SAR ($X), together comprising X% of total exports.

Japan, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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, reducing by X% against the previous year. Over the period under review, the export price, however, posted a buoyant expansion. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then contracted dramatically in the following year.

Prices varied noticeably by country of origin: 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 Hong Kong SAR (X%), while the other leaders experienced mixed trends in the export price figures.

Meat Imports

Imports in Eastern Asia

In 2022, supplies from abroad of meat decreased by X% to X tons, falling for the second consecutive year after nine years of growth. In general, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, meat imports dropped to $X in 2022. Over the period under review, imports, however, showed resilient growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

China was the main importing country with an import of around X tons, which finished at X% of total imports. Japan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%). Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the meat imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Japan (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Hong Kong SAR (X p.p.) and Japan (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Hong Kong SAR ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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