Thailand: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Thailand

The Thai market for frozen pig meat other than cuts or carcases contracted to $X in 2022, shrinking by -5.9% against the previous year. Overall, consumption, however, saw a noticeable increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Thailand

In value terms, production of frozen pig meat other than cuts or carcases shrank to $X in 2022 estimated in export price. In general, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production of growth remained at a somewhat lower figure.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Thailand

In 2022, shipments abroad of frozen pig meat other than cuts or carcases decreased by -67.7% to X tons, falling for the second year in a row after three years of growth. Overall, exports continue to indicate a sharp decline. The growth pace was the most rapid in 2020 when exports increased by 209%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of frozen pig meat other than cuts or carcases contracted significantly to $X in 2022. In general, exports saw a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 152%. Over the period under review, the exports of reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons), Hong Kong SAR (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of exports of frozen pig meat other than cuts or carcases from Thailand, with a combined 99.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +28.3%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for frozen pig meat other than cuts or carcases exported from Thailand were Hong Kong SAR ($X), Myanmar ($X) and Lao People's Democratic Republic ($X).

Myanmar, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, waning by -3.1% against the previous year. Over the period under review, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 135% against the previous year. The export price peaked at $X per ton in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Myanmar ($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 Lao People's Democratic Republic (+12.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into Thailand

In 2022, approx. X tons of frozen pig meat other than cuts or carcases were imported into Thailand; growing by 43% compared with the previous year. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2020 when imports increased by 286,925%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of frozen pig meat other than cuts or carcases surged to $X in 2022. Over the period under review, imports recorded significant growth. The pace of growth was the most pronounced in 2020 with an increase of 259,060% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of frozen pig meat other than cuts or carcases to Thailand, accounting for a 66% share of total imports. Moreover, imports of frozen pig meat other than cuts or carcases from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +135.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-22.8% per year) and Japan (+199.8% per year).

In value terms, the largest frozen pig meat other than cuts or carcases suppliers to Thailand were Japan ($X), Spain ($X) and Brazil ($X).

Japan, with a CAGR of +152.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, rising by 83% against the previous year. Overall, the import price saw prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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