Thailand: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Thailand

In 2021, the Thai preserved cows meat market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Cows Meat Production in Thailand

In value terms, preserved cows meat production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Preserved Cows Meat Exports

Exports from Thailand

In 2021, overseas shipments of prepared or preserved meat or offal of bovine animals decreased by -48.5% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 152%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, preserved cows meat exports shrank dramatically to $X in 2021. Over the period under review, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 141%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Ghana (X tons) and Hong Kong SAR (X tons) were the main destinations of preserved cows meat exports from Thailand, together comprising 99% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +213.3%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for prepared or preserved meat or offal of bovine animals exports from Thailand, comprising 72% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +243.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+7.8% per year) and Ghana (0.0% per year).

Export Prices by Country

The average preserved cows meat export price stood at $X per ton in 2021, rising by 9.8% against the previous year. Overall, the export price, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2013 an increase of 64% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Cows Meat Imports

Imports into Thailand

In 2021, overseas purchases of prepared or preserved meat or offal of bovine animals decreased by -34.6% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2013 when imports increased by 87% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved cows meat imports declined notably to $X in 2021. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 103% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Australia (X tons) constituted the largest supplier of preserved cows meat to Thailand, accounting for a 90% share of total imports. Moreover, preserved cows meat imports from Australia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), tenfold.

From 2012 to 2021, the average annual growth rate of volume from Australia stood at +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+23.1% per year) and New Zealand (-47.6% per year).

In value terms, Australia ($X) constituted the largest supplier of prepared or preserved meat or offal of bovine animals to Thailand, comprising 89% of total imports. The second position in the ranking was held by Malaysia ($X), with a 9.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Australia stood at +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+32.3% per year) and New Zealand (-35.3% per year).

Import Prices by Country

The average preserved cows meat import price stood at $X per ton in 2021, rising by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2020 when the average import price increased by 24% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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