Eastern Asia: Preserved Pork Market 2021

Preserved Pork Market Size in Eastern Asia

The East Asian preserved pork market was estimated at $X in 2020, almost unchanged from the previous year. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Over the period under review, the market attained the peak level in 2020 and is expected to retain growth in the immediate term.

Preserved Pork Production in Eastern Asia

In value terms, preserved pork production dropped slightly to $X in 2020 estimated in export prices. The total production indicated a measured increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% year-to-year. Over the period under review, production attained the peak level at $X in 2019, and then shrank slightly in the following year.

Production By Country in Eastern Asia

China (X tons) constituted the country with the largest volume of preserved pork production, comprising approx. X% of total volume. Moreover, preserved pork production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), fivefold. South Korea (X tons) ranked third in terms of total production with a X% share.

From 2007 to 2020, the average annual growth rate of volume in China stood at +X%. In the other countries, the average annual rates were as follows: Japan (-X% per year) and South Korea (+X% per year).

Preserved Pork Exports

Exports in Eastern Asia

Preserved pork exports dropped to X tons in 2020, which is down by -X% against the previous year's figure. Overall, exports showed a noticeable decline. The growth pace was the most rapid in 2008 when exports increased by X% year-to-year. The volume of export peaked at X tons in 2009; however, from 2010 to 2020, exports remained at a lower figure.

In value terms, preserved pork exports shrank markedly to $X in 2020. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. The level of export peaked at $X in 2014; however, from 2015 to 2020, exports remained at a lower figure.

Exports by Country

China (X tons) and South Korea (X tons) dominates preserved pork exports structure, together committing X% of total exports. It was distantly followed by Hong Kong SAR (X tons), constituting an X% share of total exports.

From 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (+X% per year), while exports for the other leaders experienced a decline in the exports figures.

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

From 2007 to 2020, the average annual rate of growth in terms of value in China stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+X% per year) and Hong Kong SAR (+X% per year).

Export Prices by Country

In 2020, the preserved pork export price in Eastern Asia amounted to $X per ton, dropping by -X% against the previous year. Over the period under review, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2009 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced mixed trends in the export price figures.

Preserved Pork Imports

Imports in Eastern Asia

In 2020, overseas purchases of pig meat salted (salted, in brine, dried or smoked) decreased by -X% to X tons, falling for the sixth year in a row after five years of growth. Overall, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X% year-to-year. The volume of import peaked at X tons in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

In value terms, preserved pork imports amounted to $X in 2020. Over the period under review, imports continue to indicate a notable increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2020, imports remained at a lower figure.

Imports by Country

Japan was the largest importer of pig meat salted (salted, in brine, dried or smoked) in Eastern Asia, with the volume of imports recording X tons, which was near X% of total imports in 2020. Hong Kong SAR (X tons) held an X% share (based on tons) of total imports, which put it in second place, followed by China (X%). South Korea (X tons), Democratic People's Republic of Korea (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to preserved pork imports into Japan stood at -X%. At the same time, China (+X%), Democratic People's Republic of Korea (+X%), Taiwan (Chinese) (+X%) and South Korea (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +X% from 2007-2020. Hong Kong SAR experienced a relatively flat trend pattern. From 2007 to 2020, the share of China, Hong Kong SAR, Democratic People's Republic of Korea, Taiwan (Chinese) and South Korea increased by +X%, +X%, +X%, +X% and +X% percentage points, while Japan (-X p.p.) saw their share reduced.

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

From 2007 to 2020, the average annual rate of growth in terms of value in Japan stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: China (+X% per year) and South Korea (+X% per year).

Import Prices by Country

In 2020, the preserved pork import price in Eastern Asia amounted to $X per ton, jumping by X% against the previous year. In general, the import price recorded prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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