Eastern Asia: Market for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Eastern Asia

The East Asian market for fresh or chilled pig meat other than cuts or carcases stood at $X in 2022, with an increase of 7.6% against the previous year. Over the period under review, consumption showed a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases in Eastern Asia

In value terms, production of fresh or chilled pig meat other than cuts or carcases rose significantly to $X in 2022 estimated in export price. Overall, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 50%. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a lower figure.

China (X tons) constituted the country with the largest volume of production of fresh or chilled pig meat other than cuts or carcases, accounting for 97% of total volume. It was followed by Democratic People's Republic of Korea (X tons), with a 2.6% share of total production.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +5.1%.

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Exports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Exports in Eastern Asia

Exports of fresh or chilled pig meat other than cuts or carcases expanded rapidly to X tons in 2022, with an increase of 8.8% on the previous year's figure. In general, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of 180%. Over the period under review, the exports of hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, exports of fresh or chilled pig meat other than cuts or carcases fell to $X in 2022. Overall, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 70%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in carcases structure, accounting for X tons, which was near 97% of total exports in 2022. South Korea (X tons) took a little share of total exports.

Exports from China decreased at an average annual rate of -9.6% from 2012 to 2022. At the same time, South Korea (+153.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +153.9% from 2012-2022. From 2012 to 2022, the share of South Korea increased by +1.8 percentage points.

In value terms, China ($X) remains the largest fresh pork other than cuts or carcases supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was held by South Korea ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to -8.1%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, which is down by -12.2% against the previous year. Overall, the export price, however, saw mild growth. The pace of growth appeared the most rapid in 2017 when the export price increased by 67% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.6%).

Imports of Fresh Or Chilled Pig Meat Other Than Cuts Or Carcases

Imports in Eastern Asia

In 2022, supplies from abroad of fresh or chilled pig meat other than cuts or carcases decreased by -2.5% to X tons for the first time since 2011, thus ending a ten-year rising trend. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 11%. Over the period under review, imports of attained the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, imports of fresh or chilled pig meat other than cuts or carcases dropped to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 18%. Over the period under review, imports of reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

Japan prevails in carcases structure, amounting to X tons, which was near 89% of total imports in 2022. South Korea (X tons) ranks second in terms of the total imports with a 6.1% share, followed by Hong Kong SAR (4.5%).

Imports into Japan increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Hong Kong SAR (+12.4%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +12.4% from 2012-2022. From 2012 to 2022, the share of Hong Kong SAR increased by +2.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported fresh or chilled pig meat other than cuts or carcases in Eastern Asia, comprising 87% of total imports. The second position in the ranking was held by South Korea ($X), with an 8.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: South Korea (+5.8% per year) and Hong Kong SAR (+15.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, falling by -8% against the previous year. In general, the import price showed a noticeable setback. The pace of growth was the most pronounced in 2016 an increase of 7.1% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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