Eastern Asia: Processed Meat Market 2024

Processed Meat Market Size in Eastern Asia

The East Asian processed meat market was estimated at $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Processed Meat Production in Eastern Asia

In value terms, processed meat production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period 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 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Processed Meat Exports

Exports in Eastern Asia

In 2022, exports of processed meat in Eastern Asia rose sharply to X tons, surging by X% against 2021 figures. Over the period under review, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed meat exports amounted to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by South Korea (X tons), creating a X% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of processed meat. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest processed meat supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Hong Kong SAR (X% per year).

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 continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 a decline in the export price figures.

Processed Meat Imports

Imports in Eastern Asia

In 2022, after three years of decline, there was growth in purchases abroad of processed meat, when their volume increased by X% to X tons. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, processed meat imports expanded modestly to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2018; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Japan (X tons) represented the major importer of processed meat, constituting X% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%).

Japan experienced a relatively flat trend pattern with regard to volume of imports of processed meat. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. Japan (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Japan ($X) constitutes the largest market for imported processed meat in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total imports.

In Japan, processed meat imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 import price figures.

Source: IndexBox Platform

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