South-Eastern Asia: Beef Market 2025

Beef Market Size in South-Eastern Asia

In 2021, after three years of decline, there was significant growth in the Southeast Asian beef market, when its value increased by 9.5% to $X. Overall, consumption, however, showed a pronounced contraction. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Beef Production in South-Eastern Asia

In value terms, beef production stood at $X in 2021 estimated in export price. Overall, production, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2015 when the production volume increased by 37%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

The countries with the highest volumes of production in 2021 were Indonesia (X tons), Vietnam (X tons) and the Philippines (X tons), with a combined 68% share of total production.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Vietnam (with a CAGR of +5.7%), while production for the other leaders experienced mixed trends in the production figures.

In 2021, the average beef yield in South-Eastern Asia soared to X kg per head, increasing by 21% compared with 2020. Overall, the yield showed a relatively flat trend pattern. As a result, the yield reached the peak level and is likely to continue growth in the immediate term.

In 2021, number of animals slaughtered for beef production in South-Eastern Asia declined to X heads, waning by -14.9% against the previous year's figure. In general, the number of producing animals continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2019 with an increase of 1.8%. The level of producing animals peaked at X heads in 2013; however, from 2014 to 2021, producing animals failed to regain momentum.

Beef Exports

Exports in South-Eastern Asia

Beef exports declined rapidly to X tons in 2021, which is down by -17.7% compared with the year before. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by 32%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, beef exports expanded rapidly to $X in 2021. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 48%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the largest exporter of beef (cattle meat) in South-Eastern Asia, with the volume of exports recording X tons, which was approx. 77% of total exports in 2021. Malaysia (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Lao People's Democratic Republic (5.6%) and Vietnam (4.7%).

Exports from Singapore increased at an average annual rate of +2.2% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+65.0%) and Vietnam (+9.5%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +65.0% from 2012-2021. By contrast, Malaysia (-12.1%) illustrated a downward trend over the same period. While the share of Singapore (+56 p.p.), Lao People's Democratic Republic (+5.6 p.p.) and Vietnam (+4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest beef supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 11% share of total exports. It was followed by Vietnam, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +4.0%. In the other countries, the average annual rates were as follows: Malaysia (-11.4% per year) and Vietnam (+2.4% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, picking up by 36% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Beef Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of beef (cattle meat) increased by 14% to X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.8% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 44%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, beef imports skyrocketed to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -28.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 48% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) was the key importer of beef (cattle meat) in South-Eastern Asia, comprising 91% of total import. It was distantly followed by Singapore (X tons), creating a 5.2% share of total imports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +22.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 67% of total imports.

Indonesia, with a CAGR of +21.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, surging by 7.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 an increase of 9.6%. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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