Malaysia: Bacon And Ham Market 2024

Bacon And Ham Market Size in Malaysia

In 2022, the Malaysian bacon and ham market was finally on the rise to reach $X after three years of decline. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Bacon And Ham Production in Malaysia

In value terms, bacon and ham production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Bacon And Ham Exports

Exports from Malaysia

Bacon and ham exports from Malaysia reduced notably to X tons in 2022, dropping by -37.3% compared with 2021. Overall, exports continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2016 with an increase of 14,732% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, bacon and ham exports contracted markedly to $X in 2022. Over the period under review, exports saw a significant contraction. The growth pace was the most rapid in 2016 when exports increased by 14,720% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) and Hong Kong SAR (X tons) were the main destinations of bacon and ham exports from Malaysia.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +18.0%).

In value terms, the largest markets for bacon and ham exported from Malaysia were Vietnam ($X) and Hong Kong SAR ($X).

In terms of the main countries of destination, Vietnam, with a CAGR of +35.0%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average bacon and ham export price amounted to $X per ton, jumping by 21% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham export price decreased by -11.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 43%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+35.8%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into Malaysia

In 2022, overseas purchases of bacon, ham and other dried, salted or smoked pig meat were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2016 when imports increased by 85% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, bacon and ham imports reduced slightly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 92% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest bacon and ham supplier to Malaysia, accounting for a 25% share of total imports. Moreover, bacon and ham imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Spain (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore totaled +16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.3% per year) and Spain (+2.5% per year).

In value terms, the largest bacon and ham suppliers to Malaysia were Spain ($X), the United States ($X) and Singapore ($X), together comprising 27% of total imports. China, Australia, Italy and Canada lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, Australia, with a CAGR of +4.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average bacon and ham import price amounted to $X per ton, shrinking by -9% against the previous year. Over the period under review, the import price, however, recorded buoyant growth. The growth pace was the most rapid in 2020 when the average import price increased by 39% against the previous year. The import price peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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