China: Beef Market 2023

Beef Market Size in China

For the third consecutive year, the Chinese beef market recorded growth in sales value, which increased by 5.2% to $X in 2021. The market value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Beef Production in China

In value terms, beef production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 100% against the previous year. Beef production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

The average yield of beef (cattle meat) in China stood at X kg per head in 2021, surging by 2.4% compared with 2020. Overall, the yield saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by 3.5%. As a result, the yield reached the peak level of X kg per head. From 2020 to 2021, the growth of the average beef yield remained at a lower figure.

In 2021, number of animals slaughtered for beef production in China reached X heads, approximately reflecting 2020. This number increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 when the number of producing animals increased by 10% against the previous year. The number of animals slaughtered for beef production peaked in 2021 and is likely to continue growth in the near future.

Beef Exports

Exports from China

In 2021, approx. X tons of beef (cattle meat) were exported from China; reducing by -27.6% compared with 2020 figures. In general, exports showed a sharp downturn. The most prominent rate of growth was recorded in 2016 with an increase of 38%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, beef exports fell rapidly to $X in 2021. Over the period under review, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2014 with an increase of 39% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Zambia (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main destinations of beef exports from China, together comprising 79% of total exports. These countries were followed by Maldives, Slovenia and Kenya, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +298.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the largest markets for beef exported from China worldwide, together accounting for 68% of total exports.

Among the main countries of destination, Zambia, with a CAGR of +316.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average beef export price stood at $X per ton in 2021, declining by -11.3% against the previous year. Overall, the export price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2017 when the average export price increased by 43%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (+43.4%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into China

For the tenth consecutive year, China recorded growth in overseas purchases of beef (cattle meat), which increased by 10% to X tons in 2021. In general, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 370% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, beef imports surged to $X in 2021. Over the period under review, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 399%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Brazil (X tons), Argentina (X tons) and Uruguay (X tons) were the main suppliers of beef imports to China, together accounting for 72% of total imports. These countries were followed by New Zealand, Australia and the United States, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +651.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constituted the largest supplier of beef (cattle meat) to China, comprising 37% of total imports. The second position in the ranking was taken by Argentina ($X), with a 16% share of total imports. It was followed by Uruguay, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil amounted to +70.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+131.8% per year) and Uruguay (+46.2% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2021, increasing by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2015 an increase of 13%. Over the period under review, average import prices reached the maximum in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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