Asia-Pacific: Frozen Pork Carcase Market 2024

Frozen Pork Carcase Market Size in Asia-Pacific

The Asia-Pacific frozen pork carcase market totaled $X in 2022, increasing by 1.8% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.4% against 2016 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Frozen Pork Carcase Production in Asia-Pacific

In value terms, frozen pork carcase production totaled $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 58% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

China (X tons) remains the largest frozen pork carcase producing country in Asia-Pacific, comprising approx. 64% of total volume. Moreover, frozen pork carcase production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 4.2% share.

In China, frozen pork carcase production expanded at an average annual rate of +5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+4.9% per year) and Thailand (+2.7% per year).

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Frozen Pork Carcase Exports

Exports in Asia-Pacific

In 2022, the amount of frozen carcases of pig meat exported in Asia-Pacific shrank significantly to X tons, waning by -23.8% against the previous year. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2021 when exports increased by 56%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen pork carcase exports declined significantly to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 46%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam prevails in exports structure, amounting to X tons, which was near 80% of total exports in 2022. India (X tons) held a 6.6% share (based on physical terms) of total exports, which put it in second place, followed by China (6.5%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen pork carcase exports from Vietnam stood at -3.9%. At the same time, India (+63.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +63.0% from 2012-2022. By contrast, Hong Kong SAR (-1.4%) and China (-16.8%) illustrated a downward trend over the same period. Vietnam (+9.2 p.p.) and India (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -17.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen pork carcase supplier in Asia-Pacific, comprising 73% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 9.6% share of total exports. It was followed by China, with a 7.7% share.

In Vietnam, frozen pork carcase exports shrank by an average annual rate of -4.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (+3.4% per year) and China (-20.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, growing by 3.6% against the previous year. In general, the export price, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2013 when the export price increased by 24%. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Frozen Pork Carcase Imports

Imports in Asia-Pacific

In 2022, approx. X tons of frozen carcases of pig meat were imported in Asia-Pacific; approximately reflecting 2021. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +109.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 108% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, frozen pork carcase imports contracted to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

The Philippines represented the key importer of frozen carcases of pig meat in Asia-Pacific, with the volume of imports finishing at X tons, which was approx. 48% of total imports in 2022. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 28% share, followed by China (11%). Bhutan (X tons), Democratic People's Republic of Korea (X tons), Singapore (X tons) and Macao SAR (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +47.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen pork carcase importing markets in Asia-Pacific were Hong Kong SAR ($X), the Philippines ($X) and China ($X), with a combined 80% share of total imports. Macao SAR, Singapore, Democratic People's Republic of Korea and Bhutan lagged somewhat behind, together comprising a further 17%.

In terms of the main importing countries, Bhutan, with a CAGR of +50.1%, saw the highest rates of growth with regard to the value of imports, 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 Asia-Pacific stood at $X per ton in 2022, which is down by -7.3% against the previous year. Over the period under review, the import price showed a pronounced decrease. The pace of growth appeared the most rapid in 2015 when the import price increased by 10%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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