Asia: Beef Market 2023

Beef Market Size in Asia

The Asian beef market rose notably to $X in 2021, growing by 6.2% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the near future.

Beef Production in Asia

In value terms, beef production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 25%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2021 were China (X tons), India (X tons) and Pakistan (X tons), together accounting for 67% of total production. These countries were followed by Turkey, Uzbekistan, Kazakhstan, Japan, Indonesia and Turkmenistan, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Turkmenistan (with a CAGR of +10.7%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average yield of beef (cattle meat) in Asia amounted to X kg per head, standing approx. at the previous year's figure. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the yield increased by 1.5% against the previous year. Over the period under review, the beef yield attained the maximum level in 2021 and is likely to see gradual growth in the near future.

In 2021, number of animals slaughtered for beef production in Asia amounted to X heads, surging by 3% against 2020 figures. This number increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when the number of producing animals increased by 4.1% against the previous year. The level of producing animals peaked in 2021 and is expected to retain growth in the near future.

Beef Exports

Exports in Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of beef (cattle meat), when their volume increased by 9% to X tons. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 31% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, beef exports reached $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 43% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, resulting at X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Pakistan (X tons), creating a 5.6% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of beef (cattle meat). At the same time, Pakistan (+7.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +7.3% from 2012-2021. By contrast, Hong Kong SAR (-8.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Pakistan increased by +2.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest beef supplier in Asia, comprising 75% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 6.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+11.8% per year) and Hong Kong SAR (-0.4% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, surging by 5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 when the export price increased by 8.9% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.0%), while the other leaders experienced more modest paces of growth.

Beef Imports

Imports in Asia

In 2021, approx. X tons of beef (cattle meat) were imported in Asia; increasing by 7.3% against 2020. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +122.9% against 2012 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 28%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, beef imports surged to $X in 2021. In general, imports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

China was the main importing country with an import of about X tons, which resulted at 44% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons) and Hong Kong SAR (X tons), together committing a 25% share of total imports. Indonesia (X tons), Vietnam (X tons), Malaysia (X tons), the Philippines (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons), Israel (X tons), Saudi Arabia (X tons) and Iraq (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the beef (cattle meat) imports, with a CAGR of +50.2% from 2012 to 2021. At the same time, Indonesia (+22.7%), Iraq (+12.4%), Israel (+8.7%), South Korea (+6.6%), the Philippines (+6.5%), the United Arab Emirates (+5.9%), Taiwan (Chinese) (+5.6%), Hong Kong SAR (+4.6%), Malaysia (+2.8%) and Japan (+1.4%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Vietnam (-6.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Indonesia increased by +41 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported beef (cattle meat) in Asia, comprising 43% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +54.1%. In the other countries, the average annual rates were as follows: Japan (+3.3% per year) and South Korea (+12.2% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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