Nepal: Market for Salted, Dried or Smoked Meat, and Offal 2024

Market Size for Salted, Dried or Smoked Meat, and Offal in Nepal

The Nepalese market for salted, dried or smoked meat, and offal rose modestly to $X in 2022, growing by 1.9% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.8% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in Nepal

In value terms, production of salted, dried or smoked meat, and offal stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 -1.9% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports from Nepal

After two years of decline, overseas shipments of salted, dried or smoked meat, and offal increased by 120% to X tons in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when exports increased by 269% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of salted, dried or smoked meat, and offal skyrocketed to $X in 2022. In general, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2013 when exports increased by 350% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons), Thailand (X tons) and Hong Kong SAR (X kg) were the main destinations of exports of salted, dried or smoked meat, and offal from Nepal, with a combined 100% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +57.8%), while the other leaders experienced a decline.

In value terms, the largest markets for salted, dried or smoked meat, and offal exported from Nepal were Vietnam ($X), Thailand ($X) and Hong Kong SAR ($X), together accounting for 99% of total exports.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +58.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average export price for salted, dried or smoked meat, and offal amounted to $X per ton, rising by 8.5% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for salted, dried or smoked meat, and offal increased by +78.6% against 2016 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 22% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports into Nepal

After three years of decline, overseas purchases of salted, dried or smoked meat, and offal increased by 63% to X kg in 2022. In general, imports, however, continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2018 when imports increased by 315% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of salted, dried or smoked meat, and offal surged to $X in 2022. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 467%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X kg) constituted the largest supplier of salted, dried or smoked meat, and offal to Nepal, with a 78% share of total imports. Moreover, imports of salted, dried or smoked meat, and offal from Thailand exceeded the figures recorded by the second-largest supplier, Singapore (X kg), fivefold. The third position in this ranking was taken by China (X kg), with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+4.0% per year) and China (-7.3% per year).

In value terms, Thailand ($X) constituted the largest supplier of salted, dried or smoked meat, and offal to Nepal, comprising 76% of total imports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total imports. It was followed by Italy, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +38.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+7.1% per year) and Italy (-12.7% per year).

Import Prices by Country

In 2022, the average import price for salted, dried or smoked meat, and offal amounted to $X per ton, declining by -7.1% against the previous year. Over the period under review, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 when the average import price increased by 83%. The import price peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 China (+37.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform