Asia: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Asia

The Asian market for fresh or chilled pig meat other than cuts or carcases expanded to $X in 2022, surging by 4.3% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 -4.0% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Asia

In value terms, production of fresh or chilled pig meat other than cuts or carcases expanded sharply to $X in 2022 estimated in export price. Over the period under review, production posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

China (X tons) remains the largest fresh pork other than cuts or carcases producing country in Asia, comprising approx. 49% of total volume. Moreover, production of fresh or chilled pig meat other than cuts or carcases in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was held by Indonesia (X tons), with an 8.1% share.

In China, production of fresh or chilled pig meat other than cuts or carcases increased at an average annual rate of +5.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+9.2% per year) and Indonesia (+7.0% per year).

Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports in Asia

Exports of fresh or chilled pig meat other than cuts or carcases rose markedly to X tons in 2022, picking up by 7.8% against the year before. Overall, exports enjoyed temperate growth. The most prominent rate of growth was recorded in 2020 when exports increased by 134%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases rose sharply to $X in 2022. In general, exports saw noticeable growth. The pace of growth was the most pronounced in 2020 with an increase of 120% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X tons) represented the largest exporter of fresh or chilled pig meat other than cuts or carcases, committing 64% of total exports. China (X tons) ranks second in terms of the total exports with a 25% share, followed by Malaysia (4.9%). Cyprus (X tons) held a relatively small share of total exports.

Thailand was also the fastest-growing in terms of the fresh or chilled pig meat other than cuts or carcases exports, with a CAGR of +65.0% from 2012 to 2022. At the same time, Cyprus (+41.1%) and Malaysia (+22.4%) displayed positive paces of growth. By contrast, China (-9.6%) illustrated a downward trend over the same period. While the share of Thailand (+64 p.p.), Cyprus (+4.1 p.p.) and Malaysia (+4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-71.8 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest fresh pork other than cuts or carcases supplier in Asia, comprising 64% of total exports. The second position in the ranking was held by China ($X), with a 28% share of total exports. It was followed by Malaysia, with a 4% share.

In Thailand, exports of fresh or chilled pig meat other than cuts or carcases increased at an average annual rate of +64.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (-8.1% per year) and Malaysia (+19.4% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, approximately mirroring the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 56%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cyprus (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports in Asia

In 2022, after ten years of growth, there was decline in purchases abroad of fresh or chilled pig meat other than cuts or carcases, when their volume decreased by -2.4% to X tons. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 12% against the previous year. The volume of import peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases dropped to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 18% against the previous year. Over the period under review, imports of reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

Japan prevails in carcases structure, resulting at X tons, which was approx. 87% of total imports in 2022. It was distantly followed by South Korea (X tons), generating a 6% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to fresh pork other than cuts or carcases imports into Japan stood at +4.5%. At the same time, Hong Kong SAR (+12.4%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Asia, with a CAGR of +12.4% from 2012-2022. Hong Kong SAR (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported fresh or chilled pig meat other than cuts or carcases in Asia, comprising 85% of total imports. The second position in the ranking was taken by South Korea ($X), with an 8.4% share of total imports.

In Japan, imports of fresh or chilled pig meat other than cuts or carcases remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.8% per year) and Hong Kong SAR (+15.8% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, dropping by -7.9% against the previous year. Over the period under review, the import price continues to indicate a pronounced setback. The growth pace was the most rapid in 2016 when the import price increased by 7.2% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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