Asia-Pacific: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in Asia-Pacific

The Asia-Pacific frozen chicken cut market dropped slightly to $X in 2022, waning by -3.2% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the market value increased by 8% against the previous year. The level of consumption peaked at $X in 2021, and then contracted modestly in the following year.

Frozen Chicken Cut Production in Asia-Pacific

In value terms, frozen chicken cut production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Indonesia (X tons), with a combined 75% share of total production. Thailand, Bangladesh and Pakistan lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Thailand (with a CAGR of +9.0%), while production for the other leaders experienced more modest paces of growth.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Frozen Chicken Cut Exports

Exports in Asia-Pacific

In 2022, overseas shipments of frozen cuts of chicken increased by 5.5% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2014 with an increase of 48% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, frozen chicken cut exports surged to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +23.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 33%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand was the main exporter of frozen cuts of chicken in Asia-Pacific, with the volume of exports recording X tons, which was approx. 52% of total exports in 2022. China (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Australia (6.7%) and Hong Kong SAR (5.3%). Singapore (X tons), South Korea (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen chicken cut exports from Thailand stood at +15.5%. At the same time, Vietnam (+40.6%), Singapore (+19.1%), China (+5.4%), South Korea (+5.3%) and Australia (+4.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +40.6% from 2012-2022. By contrast, Hong Kong SAR (-24.3%) illustrated a downward trend over the same period. While the share of Thailand (+42 p.p.), China (+11 p.p.), Singapore (+3.8 p.p.), Australia (+3 p.p.) and Vietnam (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-64.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest frozen chicken cut supplier in Asia-Pacific, comprising 67% of total exports. The second position in the ranking was taken by China ($X), with an 18% share of total exports. It was followed by Australia, with a 3.9% 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: China (+3.3% per year) and Australia (+5.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 17% against the previous year. Export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen chicken cut export price increased by +56.3% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 34% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 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-Pacific

In 2022, overseas purchases of frozen cuts of chicken decreased by -1% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 13%. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, frozen chicken cut imports surged to $X in 2022. Total imports indicated resilient growth 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 +63.1% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) represented the key importer of frozen cuts of chicken, creating 37% of total imports. It was distantly followed by Japan (X tons), the Philippines (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons), together constituting a 47% share of total imports. Singapore (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen chicken cut imports into China stood at +10.6%. At the same time, the Philippines (+14.7%), South Korea (+4.6%), Singapore (+4.5%) and Japan (+2.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +14.7% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Vietnam (-5.5%) illustrated a downward trend over the same period. While the share of China (+20 p.p.) and the Philippines (+8.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (-1.9 p.p.) and Vietnam (-9.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported frozen cuts of chicken in Asia-Pacific, comprising 50% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by the Philippines, with a 6.5% share.

In China, frozen chicken cut imports increased at an average annual rate of +16.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+2.4% per year) and the Philippines (+17.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, import price attained 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

Frequently Asked Questions (FAQ) :