Eastern Asia: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Eastern Asia

The East Asian fresh beef carcase market dropped slightly to $X in 2022, standing approx. at the previous year. The total consumption indicated prominent growth 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 decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Fresh Beef Carcase Production in Eastern Asia

In value terms, fresh beef carcase production fell slightly to $X in 2022 estimated in export price. The total production indicated a strong 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 appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Fresh Beef Carcase Exports

Exports in Eastern Asia

In 2022, approx. X tons of fresh or chilled carcases of beef and veal were exported in Eastern Asia; falling by X% on the previous year's figure. Over the period under review, exports saw a mild decline. The growth pace was the most rapid in 2017 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, fresh beef carcase exports fell significantly to $X in 2022. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Hong Kong SAR (X tons) represented the largest exporter of fresh or chilled carcases of beef and veal, committing X% of total exports. It was distantly followed by Japan (X tons), achieving a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fresh beef carcase exports from Hong Kong SAR stood at X%. At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Japan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR amounted to X%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, recorded a resilient increase. The growth pace was the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2021, and then contracted slightly in the following year.

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 Japan ($X per ton), while Hong Kong SAR totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Fresh Beef Carcase Imports

Imports in Eastern Asia

In 2022, the amount of fresh or chilled carcases of beef and veal imported in Eastern Asia reduced to X tons, with a decrease of X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, fresh beef carcase imports rose slightly to $X in 2022. In general, imports, however, showed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

South Korea dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2022. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%) and China (X%). Hong Kong SAR (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fresh beef carcase imports into South Korea stood at X%. At the same time, Japan (X%), Taiwan (Chinese) (X%), China (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Japan (X p.p.), Taiwan (Chinese) (X p.p.) and China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported fresh or chilled carcases of beef and veal in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports. It was followed by China, with a X% share.

In South Korea, fresh beef carcase imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and China (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price posted a resilient expansion. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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