ASEAN: Meat Market 2024

Meat Market Size in ASEAN

For the fourth year in a row, the ASEAN meat market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Meat Production in ASEAN

In value terms, meat production totaled $X in 2022 estimated in export price. Overall, production saw a measured increase. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Vietnam (X tons), the Philippines (X tons) and Thailand (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Vietnam (with a CAGR of X%), while production for the other leaders experienced a decline in the production figures.

The average meat yield reduced to X kg per head in 2022, with a decrease of X% on 2021. Over the period under review, the yield continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of yield peaked at X kg per head in 2014; however, from 2015 to 2022, the yield remained at a lower figure.

In 2022, number of animals slaughtered for meat production in ASEAN rose modestly to X heads, increasing by X% compared with 2021 figures. In general, the number of producing animals saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the number of producing animals increased by X% against the previous year. Over the period under review, this number hit record highs at X heads in 2017; however, from 2018 to 2022, producing animals failed to regain momentum.

Meat Exports

Exports in ASEAN

In 2022, shipments abroad of meat decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a perceptible slump. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, meat exports reduced to $X in 2022. In general, exports recorded a mild shrinkage. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) and Vietnam (X tons) dominates exports structure, together achieving X% of total exports. The following exporters - Malaysia (X tons), Indonesia (X tons), Thailand (X tons) and Lao People's Democratic Republic (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Vietnam ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Malaysia, Thailand and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Lao People's Democratic Republic, with a CAGR of X%, 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 ASEAN amounted to $X per ton, dropping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. 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 Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

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

Meat Imports

Imports in ASEAN

For the eleventh year in a row, ASEAN recorded growth in purchases abroad of meat, which increased by X% to X tons in 2022. Over the period under review, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, meat imports soared to $X in 2022. In general, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, the Philippines (X tons) was the largest importer of meat, making up X% of total imports. Malaysia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Vietnam (X%) and Singapore (X%). Thailand (X tons) followed a long way behind the leaders.

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

In value terms, the Philippines ($X), Malaysia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in ASEAN stood at $X per ton in 2022, approximately equating the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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