Asia-Pacific: Turkey Meat Market 2024

Turkey Meat Market Size in Asia-Pacific

The Asia-Pacific turkey meat market dropped to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption recorded a pronounced decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Turkey Meat Production in Asia-Pacific

In value terms, turkey meat production reduced to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Australia (X tons) constituted the country with the largest volume of turkey meat production, comprising approx. X% of total volume. Moreover, turkey meat production in Australia exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (X tons), sevenfold. The Philippines (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual growth rate of volume in Australia amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Taiwan (Chinese) (X% per year) and the Philippines (X% per year).

In 2022, the average turkey meat yield in Asia-Pacific totaled X kg per head, approximately mirroring the previous year's figure. Overall, the yield, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the yield increased by X%. As a result, the yield reached the peak level of X kg per head. From 2016 to 2022, the growth of the turkey meat yield remained at a lower figure.

In 2022, number of animals slaughtered for turkey meat production in Asia-Pacific amounted to X heads, remaining constant against 2021. Over the period under review, the number of producing animals, however, continues to indicate a slight downturn. Over the period under review, this number attained the maximum level at X heads in 2012; however, from 2013 to 2022, producing animals remained at a lower figure.

Turkey Meat Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded decline in overseas shipments of turkey meat, which decreased by X% to X tons in 2022. Over the period under review, exports showed a deep setback. The most prominent rate of growth was recorded in 2015 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, turkey meat exports plummeted to $X in 2022. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Hong Kong SAR (X tons), India (X tons) and Australia (X tons) represented the key exporter of turkey meat in Asia-Pacific, achieving X% of total export. Malaysia (X tons) ranks next in terms of the total exports with a X% share, followed by New Zealand (X%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), India ($X) and Australia ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. New Zealand, Singapore and Malaysia lagged somewhat behind, together accounting for a further X%.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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, with an increase of X% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat export price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

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 ($X per ton), while Malaysia ($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 (X%), while the other leaders experienced more modest paces of growth.

Turkey Meat Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of turkey meat decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, turkey meat imports expanded notably to $X in 2022. Overall, imports recorded a noticeable slump. The pace of growth was the most pronounced in 2016 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. Cambodia (X tons) held the second position in the ranking, followed by Samoa (X tons) and Vietnam (X tons). All these countries together held near X% share of total imports. The following importers - Hong Kong SAR (X tons), South Korea (X tons), New Zealand (X tons) and Japan (X tons) - together made up X% of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, New Zealand (X%), Cambodia (X%), Samoa (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%), Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cambodia, Samoa, China, Vietnam and New Zealand increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported turkey meat in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Cambodia, with a X% share.

In China, turkey meat imports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Cambodia (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, turkey meat import price increased by X% against 2018 indices. 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 South Korea ($X per ton), while Samoa ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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