Asia-Pacific: Market for Fresh Or Chilled Cuts Of Turkey 2024

Market Size for Fresh Or Chilled Cuts Of Turkey in Asia-Pacific

In 2022, after two years of growth, there was significant decline in the Asia-Pacific market for fresh or chilled cuts of turkey, when its value decreased by -5.5% to $X. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then dropped in the following year.

Production of Fresh Or Chilled Cuts Of Turkey in Asia-Pacific

In value terms, fresh or chilled turkey cut production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were India (X tons), Pakistan (X tons) and Indonesia (X tons), with a combined 65% share of total production. South Korea, the Philippines, Australia and Thailand lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +9.7%), while production for the other leaders experienced more modest paces of growth.

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Exports of Fresh Or Chilled Cuts Of Turkey

Exports in Asia-Pacific

In 2022, exports of fresh or chilled cuts of turkey in Asia-Pacific dropped notably to X tons, declining by -31% on 2021 figures. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2013 when exports increased by 49% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, fresh or chilled turkey cut exports declined to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 63%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China was the key exporting country with an export of about X tons, which resulted at 60% of total exports. New Zealand (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons). All these countries together held near 32% share of total exports. Samoa (X tons), Indonesia (X tons) and Pakistan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the fresh or chilled cuts of turkey exports, with a CAGR of +92.6% from 2012 to 2022. At the same time, New Zealand (+44.9%), Indonesia (+11.5%), Malaysia (+8.5%) and Samoa (+7.5%) displayed positive paces of growth. By contrast, Pakistan (-24.6%) illustrated a downward trend over the same period. China (+60 p.p.), New Zealand (+27 p.p.), Malaysia (+3.5 p.p.), Indonesia (+2.6 p.p.) and Samoa (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -18.2% from 2012 to 2022, respectively.

In value terms, New Zealand ($X), China ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, together comprising 91% of total exports.

Among the main exporting countries, China, with a CAGR of +69.5%, saw the highest rates of growth with regard to 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, jumping by 36% against the previous year. Overall, the export price saw a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of 56%. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

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 New Zealand ($X per ton), while Samoa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.4%), while the other leaders experienced more modest paces of growth.

Imports of Fresh Or Chilled Cuts Of Turkey

Imports in Asia-Pacific

In 2022, supplies from abroad of fresh or chilled cuts of turkey was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 63%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, fresh or chilled turkey cut imports totaled $X in 2022. In general, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 48%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons) and Samoa (X tons) represented the key importers of fresh or chilled cuts of turkey in 2022, amounting to near 39% and 35% of total imports, respectively. Cambodia (X tons) took the next position in the ranking, distantly followed by China (X tons). All these countries together held approx. 23% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +72.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Samoa ($X), Cambodia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 88% of total imports.

Cambodia, with a CAGR of +71.1%, saw the highest rates of growth with regard to the value of imports, in terms of 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, reducing by -4.5% against the previous year. Overall, the import price recorded a slight decrease. The pace of growth appeared the most rapid in 2019 when the import price increased by 17% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Samoa (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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