Asia-Pacific: Frozen Whole Turkey Market 2024

Frozen Whole Turkey Market Size in Asia-Pacific

The Asia-Pacific frozen whole turkey market amounted to $X in 2022, approximately reflecting the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +20.3% against 2016 indices. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Whole Turkey Production in Asia-Pacific

In value terms, frozen whole turkey production rose slightly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.9% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 18% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

India (X tons) constituted the country with the largest volume of frozen whole turkey production, comprising approx. 79% of total volume. Moreover, frozen whole turkey production in India exceeded the figures recorded by the second-largest producer, Australia (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume in India totaled +7.9%. The remaining producing countries recorded the following average annual rates of production growth: Australia (+2.8% per year) and New Zealand (+10.9% per year).

Frozen Whole Turkey Exports

Exports in Asia-Pacific

In 2022, overseas shipments of frozen whole turkeys decreased by -42% to X tons, falling for the second consecutive year after two years of growth. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when exports increased by 165%. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen whole turkey exports fell markedly to $X in 2022. Over the period under review, exports showed a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 314% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Australia (X tons) represented the key exporter of frozen whole turkeys, making up 50% of total exports. New Zealand (X tons) ranks second in terms of the total exports with a 29% share, followed by Singapore (10%) and Hong Kong SAR (5%). Fiji (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Fiji (with a CAGR of +47.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole turkey supplying countries in Asia-Pacific were New Zealand ($X), Australia ($X) and Singapore ($X), together comprising 84% of total exports. Fiji and Hong Kong SAR lagged somewhat behind, together comprising a further 14%.

In terms of the main exporting countries, Fiji, with a CAGR of +60.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by 37% against the previous year. Overall, the export price showed a strong expansion. The pace of growth appeared the most rapid in 2013 when the export price increased by 129% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; however, from 2021 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 Fiji ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+9.6%), while the other leaders experienced more modest paces of growth.

Frozen Whole Turkey Imports

Imports in Asia-Pacific

In 2022, approx. X tons of frozen whole turkeys were imported in Asia-Pacific; with a decrease of -18.1% on 2021. In general, imports showed a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 68% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen whole turkey imports fell dramatically to $X in 2022. Over the period under review, imports showed a noticeable slump. The pace of growth appeared the most rapid in 2016 with an increase of 63% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons), Singapore (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons) and China (X tons) was the major importer of frozen whole turkeys in Asia-Pacific, creating 76% of total import. Maldives (X tons) held a 4.7% share (based on physical terms) of total imports, which put it in second place, followed by Vanuatu (4.6%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vanuatu (with a CAGR of +57.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole turkey importing markets in Asia-Pacific were Hong Kong SAR ($X), Singapore ($X) and Malaysia ($X), together accounting for 47% of total imports. Taiwan (Chinese), China, the Philippines, Maldives and Vanuatu lagged somewhat behind, together comprising a further 36%.

Vanuatu, with a CAGR of +56.1%, saw 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 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by 1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2013 an increase of 17%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the Philippines ($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 Philippines (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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