Vietnam: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Vietnam

In 2021, the Vietnamese preserved cows meat market decreased by -5.3% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Preserved Cows Meat Production in Vietnam

In value terms, preserved cows meat production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 45% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Preserved Cows Meat Exports

Exports from Vietnam

In 2021, approx. X tons of prepared or preserved meat or offal of bovine animals were exported from Vietnam; with an increase of 208% on 2020 figures. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 508% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, preserved cows meat exports skyrocketed to $X in 2021. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 625% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

China (X tons) was the main destination for preserved cows meat exports from Vietnam, with a 97% share of total exports. It was followed by Hong Kong SAR (X tons), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China totaled +85.8%.

In value terms, China ($X) remains the key foreign market for prepared or preserved meat or offal of bovine animals exports from Vietnam, comprising 97% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 1.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China stood at +79.7%.

Export Prices by Country

In 2021, the average preserved cows meat export price amounted to $X per ton, which is down by -2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 19% against the previous year. The export price peaked at $X per ton in 2020, and then shrank in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Hong Kong SAR amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+7.8%).

Preserved Cows Meat Imports

Imports into Vietnam

Preserved cows meat imports into Vietnam plummeted to X tons in 2021, which is down by -44.2% against the year before. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 367% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved cows meat imports shrank rapidly to $X in 2021. Overall, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 when imports increased by 396% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR (X tons), Argentina (X tons) and Turkey (X tons) were the main suppliers of preserved cows meat imports to Vietnam, with a combined 97% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +34.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest preserved cows meat suppliers to Vietnam were Hong Kong SAR ($X), Argentina ($X) and Turkey ($X), with a combined 94% share of total imports.

Hong Kong SAR, with a CAGR of +31.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average preserved cows meat import price amounted to $X per ton, surging by 8.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 30% against the previous year. The import price peaked in 2021 and is likely to see gradual 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 Turkey ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :