Eastern Asia: Meat Market 2024

Meat Market Size in Eastern Asia

The East Asian meat market reduced modestly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Meat Production in Eastern Asia

In value terms, meat production expanded sharply to $X in 2022 estimated in export price. The total production indicated a tangible 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 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of meat production was China (X tons), comprising approx. X% of total volume. It was followed by Japan (X tons), with a X% share of total production.

In China, meat production remained relatively stable over the period from 2012-2022. 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 meat yield contracted slightly to X kg per head in 2022, with a decrease of X% on 2021 figures. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X kg per head, and then fell slightly in the following year.

In 2022, number of animals slaughtered for meat production in Eastern Asia shrank to X heads, which is down by X% against 2021. In general, the number of producing animals recorded a slight decline. The pace of growth was the most pronounced in 2021 when the number of producing animals increased by X%. Over the period under review, this number attained the maximum level at X heads in 2015; however, from 2016 to 2022, producing animals failed to regain momentum.

Meat Exports

Exports in Eastern Asia

In 2022, overseas shipments of meat increased by X% to X tons, rising for the second consecutive year after six years of decline. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, meat exports shrank to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 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 stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR was the key exporter of meat in Eastern Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. China (X tons) took the second position in the ranking, distantly followed by Japan (X tons). All these countries together took near X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest meat supplying countries in Eastern Asia were Japan ($X), China ($X) and Hong Kong SAR ($X), together accounting for X% of total exports.

Among the main exporting countries, Japan, with a CAGR of X%, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, posted a strong expansion. The pace of growth was the most pronounced in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then declined significantly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Meat Imports

Imports in Eastern Asia

In 2022, purchases abroad of meat decreased by X% to X tons, falling for the second consecutive year after nine years of growth. In general, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, meat imports contracted slightly to $X in 2022. Overall, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of import peaked at $X in 2021, and then contracted slightly in the following year.

Imports by Country

China represented the key importing country with an import of about X tons, which finished at X% of total imports. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%). The following importers - Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the meat imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea, Hong Kong SAR and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, 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.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Japan ($X per ton) were 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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