Asia: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in Asia

The Asian frozen chicken cut market reduced slightly to $X in 2022, waning by -1.7% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Frozen Chicken Cut Production in Asia

In value terms, frozen chicken cut production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Indonesia (X tons), with a combined 68% share of total production. Thailand, Iran, Bangladesh and Pakistan lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +9.0%), while production for the other leaders experienced more modest paces of growth.

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Frozen Chicken Cut Exports

Exports in Asia

In 2022, shipments abroad of frozen cuts of chicken increased by 12% to X tons for the first time since 2018, thus ending a three-year declining trend. Total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% 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 2014 with an increase of 48%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, frozen chicken cut exports skyrocketed to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.6% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 36%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Thailand (X tons) and Turkey (X tons) represented the largest exporters of frozen cuts of chicken in Asia, together resulting at near 64% of total exports. It was distantly followed by China (X tons), comprising a 14% share of total exports. The following exporters - Iran (X tons), the United Arab Emirates (X tons), Hong Kong SAR (X tons), Singapore (X tons) and South Korea (X tons) - together made up 15% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Iran (with a CAGR of +40.8%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the largest frozen chicken cut supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by Turkey ($X), with a 22% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to +20.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+16.4% per year) and China (+3.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2013 when the export price increased by 24% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while South Korea ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Frozen Chicken Cut Imports

Imports in Asia

Frozen chicken cut imports totaled X tons in 2022, remaining constant against 2021. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 11% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen chicken cut imports soared to $X in 2022. Total imports indicated a buoyant 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, imports increased by +59.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the major importing country with an import of about X tons, which reached 27% of total imports. Japan (X tons) ranks second in terms of the total imports with a 12% share, followed by the Philippines (9%), Vietnam (6%) and the United Arab Emirates (5.7%). The following importers - Taiwan (Chinese) (X tons), Saudi Arabia (X tons), Iraq (X tons), South Korea (X tons), Singapore (X tons), Kazakhstan (X tons), Hong Kong SAR (X tons) and Malaysia (X tons) - together made up 28% of total imports.

Imports into China increased at an average annual rate of +10.6% from 2012 to 2022. At the same time, the Philippines (+14.7%), Malaysia (+9.9%), the United Arab Emirates (+4.9%), South Korea (+4.6%), Saudi Arabia (+4.5%), Singapore (+4.5%), Iraq (+4.1%), Japan (+2.8%) and Kazakhstan (+2.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +14.7% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Vietnam (-5.5%) and Hong Kong SAR (-16.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and the Philippines increased by +14 and +6.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported frozen cuts of chicken in Asia, comprising 40% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 5.7% share.

In China, frozen chicken cut imports increased at an average annual rate of +16.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+2.4% per year) and the United Arab Emirates (+7.3% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, rising by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. 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 China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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