Eastern Asia: Turkey Meat Market 2024

Turkey Meat Market Size in Eastern Asia

The East Asian turkey meat market rose rapidly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption showed a deep downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Turkey Meat Production in Eastern Asia

In value terms, turkey meat production totaled $X in 2022 estimated in export price. Overall, production, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Taiwan (Chinese) (X tons) constituted the country with the largest volume of turkey meat production, accounting for X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in Taiwan (Chinese) stood at X%.

In 2022, the average turkey meat yield in Eastern Asia dropped slightly to X kg per head, approximately reflecting 2021. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by X%. As a result, the yield attained the peak level of X kg per head. From 2016 to 2022, the growth of the turkey meat yield remained at a somewhat lower figure.

In 2022, the number of animals slaughtered for turkey meat production in Eastern Asia amounted to X heads, growing by X% compared with 2021 figures. Over the period under review, the number of producing animals, however, continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of producing animals peaked at X heads in 2012; however, from 2013 to 2022, producing animals remained at a lower figure.

Turkey Meat Exports

Exports in Eastern Asia

In 2022, exports of turkey meat in Eastern Asia soared to X tons, rising by X% compared with the year before. Overall, exports, however, faced a precipitous slump. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, turkey meat exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of turkey meat, namely Hong Kong SAR, represented more than two-thirds of total export.

Hong Kong SAR was also the fastest-growing in terms of the turkey meat exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) also remains the largest turkey meat supplier in Eastern Asia.

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

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to X% per year.

Turkey Meat Imports

Imports in Eastern Asia

In 2022, purchases abroad of turkey meat decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports showed a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, turkey meat imports surged to $X in 2022. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China prevails in imports structure, amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Hong Kong SAR (X tons), committing a X% share of total imports. The following importers - South Korea (X tons) and Japan (X tons) - together made up X% of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2022. South Korea (X%), Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. China (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. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, turkey meat imports plunged by an average annual rate of X% 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

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price 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, turkey meat import price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in South Korea ($X per ton) and Hong Kong SAR ($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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