China: Beef Market 2024

Beef Market Size in China

The Chinese beef market expanded to $X in 2022, picking up by X% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value 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, consumption increased by X% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Beef Production in China

In value terms, beef production stood at $X in 2022 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

The average yield of beef (cattle meat) in China dropped modestly to X kg per head in 2022, flattening at the previous year. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the yield attained the peak level of X kg per head. From 2020 to 2022, the growth of the average beef yield remained at a somewhat lower figure.

The number of animals slaughtered for beef production in China fell to X heads in 2022, flattening at the previous year's figure. This number increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the number of producing animals increased by X% against the previous year. Over the period under review, this number reached the peak level at X heads in 2021, and then reduced in the following year.

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Beef Exports

Exports from China

After seven years of decline, overseas shipments of beef (cattle meat) increased by X% to X tons in 2022. In general, exports, however, faced a sharp decline. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, beef exports surged to $X in 2022. Overall, exports, however, saw a dramatic curtailment. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons) and the United States (X tons) were the main destinations of beef exports from China.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%).

In value terms, the largest markets for beef exported from China were Hong Kong SAR ($X) and the United States ($X).

Among the main countries of destination, the United States, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the average beef export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, export price indicated a buoyant expansion 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, beef export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into China

In 2022, beef imports into China surged to X tons, jumping by X% on the previous year. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, beef imports surged to $X in 2022. Overall, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of beef to China, with a X% share of total imports. Moreover, beef imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), twofold. The third position in this ranking was held by Uruguay (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Uruguay (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Uruguay (X% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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