Eastern Asia: Beef Market 2024

Beef Market Size in Eastern Asia

The East Asian beef market rose to $X in 2022, picking up by X% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Beef Production in Eastern Asia

In value terms, beef production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

China (X tons) constituted the country with the largest volume of beef production, comprising approx. X% of total volume. Moreover, beef production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), more than tenfold.

In China, beef production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Japan (X% per year) and South Korea (X% per year).

In 2022, the average yield of beef (cattle meat) in Eastern Asia shrank to X kg per head, approximately mirroring the year before. Over the period under review, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. As a result, the yield attained the peak level of X kg per head. From 2020 to 2022, the growth of the beef yield failed to regain momentum.

In 2022, approx. X heads of animals slaughtered for beef production in Eastern Asia; stabilizing at the year before. This number increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of producing animals peaked at X heads in 2021, and then declined slightly in the following year.

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Beef Exports

Exports in Eastern Asia

In 2022, beef exports in Eastern Asia skyrocketed to X tons, jumping by X% on the previous year's figure. In general, exports, however, saw a slight setback. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, beef exports fell to $X in 2022. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Hong Kong SAR represented the major exporter of beef (cattle meat) in Eastern Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Japan (X tons), creating a X% share of total exports.

Hong Kong SAR experienced a relatively flat trend pattern with regard to volume of exports of beef (cattle meat). At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Japan and Hong Kong SAR increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest beef supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, reducing by X% against the previous year. In general, the export price, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then contracted dramatically in the following year.

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 Japan ($X per ton), while Hong Kong SAR totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Beef Imports

Imports in Eastern Asia

In 2022, approx. X tons of beef (cattle meat) were imported in Eastern Asia; growing by X% against the previous year. Over the period under review, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, beef imports skyrocketed to $X in 2022. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

China represented the major importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together generating a X% share of total imports. Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) took a relatively small share of total imports.

China was also the fastest-growing in terms of the beef (cattle meat) imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported beef (cattle meat) in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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