Eastern Asia: Beef Market 2022

Beef Market Size in Eastern Asia

The East Asian beef market rose slightly to $X in 2021, surging by X% against the previous year. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2012 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Beef Production in Eastern Asia

In value terms, beef production stood at $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

China (X tons) remains the largest beef producing country in Eastern Asia, accounting for X% of total volume. Moreover, beef production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Japan (-X% per year) and South Korea (-X% per year).

The average beef yield declined modestly to X kg per head in 2021, standing approx. at the previous year. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the beef yield reached the peak level at X kg per head in 2014; however, from 2015 to 2021, the yield remained at a lower figure.

In 2021, number of animals slaughtered for beef production in Eastern Asia amounted to X heads, remaining stable against the year before. Overall, the number of producing animals saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the number of producing animals increased by X% against the previous year. The level of producing animals peaked in 2021 and is likely to continue growth in the immediate term.

Beef Exports

Exports in Eastern Asia

In 2021, overseas shipments of beef (cattle meat) decreased by -X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, beef exports soared to $X in 2021. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2015 with an increase of X%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

In 2021, Japan (X tons) represented the largest exporter of beef (cattle meat), making up X% of total exports. It was distantly followed by Hong Kong SAR (X tons), making up a X% share of total exports.

Japan was also the fastest-growing in terms of the beef (cattle meat) exports, with a CAGR of +X% from 2012 to 2021. Hong Kong SAR (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan increased by +X percentage points. Hong Kong SAR (-X p.p.) saw their shares reduced.

In value terms, Japan ($X) remains the largest beef supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Japan amounted to +X%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. In general, the export price recorded a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Hong Kong SAR stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+X%).

Beef Imports

Imports in Eastern Asia

After nine years of growth, supplies from abroad of beef (cattle meat) decreased by -X% to X tons in 2021. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020, and then fell modestly in the following year.

In value terms, beef imports expanded rapidly to $X in 2021. Over the period under review, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

Imports by Country

China was the largest importer of beef (cattle meat) in Eastern Asia, with the volume of imports finishing at X tons, which was near X% of total imports in 2021. It was distantly followed by Japan (X tons), South Korea (X tons) and Hong Kong SAR (X tons), together generating a X% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the beef (cattle meat) imports, with a CAGR of +X% from 2012 to 2021. At the same time, South Korea (+X%), Taiwan (Chinese) (+X%), Hong Kong SAR (+X%) and Japan (+X%) displayed positive paces of growth. From 2012 to 2021, the share of China increased by +X percentage points. Taiwan (Chinese) (-X p.p.), South Korea (-X p.p.), Hong Kong SAR (-X p.p.) and Japan (-X p.p.) saw their shares reduced.

In value terms, China ($X) constitutes the largest market for imported beef (cattle meat) in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, beef imports expanded at an average annual rate of +X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+X% per year) and South Korea (+X% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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