Myanmar: Processed Meat Market 2024

Processed Meat Market Size in Myanmar

In 2022, the Myanmar's processed meat market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption, however, showed a prominent increase. Processed meat consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Processed Meat Production in Myanmar

In value terms, processed meat production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Processed meat production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Processed Meat Exports

Exports from Myanmar

In 2022, shipments abroad of processed meat decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, processed meat exports reduced to $X in 2022. Over the period under review, exports showed a deep downturn. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for processed meat exports from Myanmar, with a X% share of total exports. Moreover, processed meat exports to Japan exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Hong Kong SAR (X% per year).

In value terms, Japan ($X) remains the key foreign market for processed meat exports from Myanmar, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average processed meat export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into Myanmar

In 2022, processed meat imports into Myanmar surged to X tons, rising by X% against 2021. In general, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed meat imports skyrocketed to $X in 2022. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest processed meat supplier to Myanmar, accounting for a X% share of total imports. Moreover, processed meat imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), tenfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and South Korea (X% per year).

In value terms, the largest processed meat suppliers to Myanmar were Thailand ($X), China ($X) and South Korea ($X), with a combined X% share of total imports. Taiwan (Chinese) lagged somewhat behind, comprising a further X%.

Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average processed meat import price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2018 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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