Asia-Pacific: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Asia-Pacific

The Asia-Pacific market for fresh or chilled pig meat other than cuts or carcases stood at $X in 2022, growing by 4.3% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.2% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Asia-Pacific

In value terms, production of fresh or chilled pig meat other than cuts or carcases reached $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 31%. Over the period under review, production of hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

China (X tons) remains the largest fresh pork other than cuts or carcases producing country in Asia-Pacific, accounting for 55% of total volume. Moreover, production of fresh or chilled pig meat other than cuts or carcases in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was held by Indonesia (X tons), with a 9.1% share.

In China, production of fresh or chilled pig meat other than cuts or carcases increased at an average annual rate of +5.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+9.2% per year) and Indonesia (+7.0% per year).

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Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports in Asia-Pacific

In 2022, approx. X tons of fresh or chilled pig meat other than cuts or carcases were exported in Asia-Pacific; increasing by 6.9% on 2021. Over the period under review, exports showed a measured expansion. The pace of growth was the most pronounced in 2020 when exports increased by 133%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases reached $X in 2022. Overall, exports posted measured growth. The growth pace was the most rapid in 2020 with an increase of 121% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

In 2022, Thailand (X tons) represented the key exporter of fresh or chilled pig meat other than cuts or carcases, comprising 65% of total exports. China (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons). All these countries together held near 30% share of total exports. Australia (X tons) took a minor share of total exports.

Thailand was also the fastest-growing in terms of the fresh or chilled pig meat other than cuts or carcases exports, with a CAGR of +65.0% from 2012 to 2022. At the same time, Malaysia (+22.4%) displayed positive paces of growth. By contrast, Australia (-5.5%) and China (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Malaysia increased by +64 and +4.1 percentage points, respectively.

In value terms, Thailand ($X) remains the largest fresh pork other than cuts or carcases supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was held by China ($X), with a 26% share of total exports. It was followed by Australia, with a 6.8% share.

In Thailand, exports of fresh or chilled pig meat other than cuts or carcases increased at an average annual rate of +64.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-8.1% per year) and Australia (-2.8% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, stabilizing at the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 53%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports in Asia-Pacific

In 2022, overseas purchases of fresh or chilled pig meat other than cuts or carcases decreased by -2.6% to X tons for the first time since 2011, thus ending a ten-year rising trend. The total import volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 11% against the previous year. The volume of import peaked at X tons in 2021, and then reduced in the following year.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases contracted to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 18% against the previous year. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Japan prevails in carcases structure, recording X tons, which was approx. 88% of total imports in 2022. South Korea (X tons) ranks second in terms of the total imports with a 6% share, followed by Hong Kong SAR (4.5%).

From 2012 to 2022, average annual rates of growth with regard to fresh pork other than cuts or carcases imports into Japan stood at +4.5%. At the same time, Hong Kong SAR (+12.4%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +12.4% from 2012-2022. While the share of Hong Kong SAR (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported fresh or chilled pig meat other than cuts or carcases in Asia-Pacific, comprising 86% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.4% share of total imports.

In Japan, imports of fresh or chilled pig meat other than cuts or carcases remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.8% per year) and Hong Kong SAR (+15.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, waning by -7.8% against the previous year. Over the period under review, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2016 an increase of 6.5% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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