
Asia-Pacific - Pork (Meat of Swine) - Market Analysis, Forecast, Size, Trends and Insights
Asia-Pacific: Pork Market 2023
Pork Market Size in Asia-Pacific
The Asia-Pacific pork market shrank slightly to $X in 2022, approximately reflecting the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.
Pork Production in Asia-Pacific
In value terms, pork production rose remarkably to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 -7.4% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 80% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.
The country with the largest volume of pork production was China (X tons), comprising approx. 82% of total volume. Moreover, pork production in China exceeded the figures recorded by the second-largest producer, Vietnam (X tons), more than tenfold. South Korea (X tons) ranked third in terms of total production with a 2.4% share.
In China, pork production declined by an average annual rate of -1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+0.9% per year) and South Korea (+2.6% per year).
The average pork yield dropped slightly to X kg per head in 2022, almost unchanged from 2021. The yield figure increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 11% against the previous year. The level of yield peaked at X kg per head in 2021, and then declined slightly in the following year.
In 2022, number of animals slaughtered for pork production in Asia-Pacific contracted to X heads, declining by -9.1% against 2021 figures. Over the period under review, the number of producing animals recorded a perceptible decrease. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. The level of producing animals peaked at X heads in 2014; however, from 2015 to 2022, producing animals failed to regain momentum.
Pork Exports
Exports in Asia-Pacific
In 2022, overseas shipments of pork increased by 2.4% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, saw a perceptible slump. The growth pace was the most rapid in 2014 when exports increased by 30%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, pork exports reduced slightly to $X in 2022. Over the period under review, exports, however, saw a perceptible downturn. The growth pace was the most rapid in 2014 when exports increased by 28% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.
Exports by Country
The shipments of the three major exporters of pork, namely Australia, China and Hong Kong SAR, represented more than half of total export. Thailand (X tons) ranks next in terms of the total exports with an 11% share, followed by Vietnam (10%) and Singapore (9.9%). Malaysia (X tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +28.5%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest pork supplying countries in Asia-Pacific were China ($X), Australia ($X) and Thailand ($X), with a combined 65% share of total exports.
Among the main exporting countries, Thailand, with a CAGR of +30.3%, 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 mixed trends in the exports figures.
Export Prices by Country
In 2022, the export price in Asia-Pacific amounted to $X per ton, which is down by -4.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2017 an increase of 19%. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Hong Kong SAR ($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 (+7.7%), while the other leaders experienced more modest paces of growth.
Pork Imports
Imports in Asia-Pacific
In 2022, supplies from abroad of pork decreased by -26.5% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 49% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, pork imports contracted dramatically to $X in 2022. Overall, imports, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 56%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.
Imports by Country
In 2022, China (X tons) was the major importer of pork, mixing up 40% of total imports. Japan (X tons) ranks second in terms of the total imports with a 22% share, followed by South Korea (12%) and the Philippines (8.8%). Australia (X tons), Hong Kong SAR (X tons) and Vietnam (X tons) took a little share of total imports.
From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +24.9%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest pork importing markets in Asia-Pacific were Japan ($X), China ($X) and South Korea ($X), together accounting for 77% of total imports. The Philippines, Hong Kong SAR, Australia and Vietnam lagged somewhat behind, together comprising a further 17%.
Vietnam, with a CAGR of +26.3%, recorded the highest growth rate of the value of imports, among 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, dropping by -7.1% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2020 an increase of 4.4%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.7%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the pork market in Asia-Pacific. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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