Eastern Asia: Preserved Turkey Market 2025

Preserved Turkey Market Size in Eastern Asia

The East Asian preserved turkey market reached $X in 2021, rising by 3.6% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Preserved Turkey Production in Eastern Asia

In value terms, preserved turkey production rose to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 -4.5% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 34% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Preserved Turkey Exports

Exports in Eastern Asia

In 2021, approx. X tons of prepared or preserved meat or offal of turkeys were exported in Eastern Asia; picking up by 17% compared with 2020. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 193% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, preserved turkey exports soared to $X in 2021. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 129% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

Exports by Country

China was the key exporting country with an export of about X tons, which resulted at 69% of total exports. Hong Kong SAR (X tons) ranks second in terms of the total exports with a 26% share, followed by South Korea (5.1%).

Exports from China increased at an average annual rate of +34.6% from 2012 to 2021. At the same time, South Korea (+56.3%) and Hong Kong SAR (+2.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +56.3% from 2012-2021. China (+51 p.p.) and South Korea (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -55.3% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest preserved turkey supplier in Eastern Asia, comprising 68% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China totaled +40.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+1.8% per year) and South Korea (+58.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, remaining constant against the previous year. Overall, the export price, however, saw a tangible expansion. The growth pace was the most rapid in 2014 an increase of 48% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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 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 China (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Preserved Turkey Imports

Imports in Eastern Asia

In 2021, purchases abroad of prepared or preserved meat or offal of turkeys decreased by -17.8% to X tons, falling for the fourth consecutive year after three years of growth. Overall, imports showed a abrupt decline. The growth pace was the most rapid in 2015 with an increase of 67% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, preserved turkey imports expanded markedly to $X in 2021. In general, imports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons) and Hong Kong SAR (X tons) were the largest importers of prepared or preserved meat or offal of turkeys in 2021, reaching near 42% and 36% of total imports, respectively. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 15% share of total imports. The following importers - Democratic People's Republic of Korea (X tons), China (X tons) and South Korea (X tons) - each finished at a 5.6% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of +8.8%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest preserved turkey importing markets in Eastern Asia were Japan ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X), together comprising 92% of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +12.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, jumping by 33% against the previous year. Import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved turkey import price increased by +100.6% against 2017 indices. The pace of growth was the most pronounced in 2019 an increase of 46%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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