South-Eastern Asia: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in South-Eastern Asia

In 2022, the Southeast Asian frozen chicken cut market increased by 7.8% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Frozen Chicken Cut Production in South-Eastern Asia

In value terms, frozen chicken cut production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 18%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Thailand (X tons) and Myanmar (X tons), with a combined 95% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Thailand (with a CAGR of +9.0%), while production for the other leaders experienced mixed trends in the production figures.

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Frozen Chicken Cut Exports

Exports in South-Eastern Asia

Frozen chicken cut exports totaled X tons in 2022, approximately mirroring the year before. Overall, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 61%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen chicken cut exports soared to $X in 2022. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2014 when exports increased by 71% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Thailand prevails in exports structure, recording X tons, which was near 87% of total exports in 2022. It was distantly followed by Singapore (X tons), comprising a 7.3% share of total exports. The following exporters - Vietnam (X tons) and Malaysia (X tons) - together made up 5.8% of total exports.

Exports from Thailand increased at an average annual rate of +15.5% from 2012 to 2022. At the same time, Vietnam (+40.6%), Singapore (+19.1%) and Malaysia (+2.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +40.6% from 2012-2022. From 2012 to 2022, the share of Thailand, Vietnam and Singapore increased by +7.3, +3.1 and +2.4 percentage points, respectively.

In value terms, Thailand ($X) remains the largest frozen chicken cut supplier in South-Eastern Asia, comprising 94% of total exports. The second position in the ranking was taken by Singapore ($X), with a 4.2% share of total exports. It was followed by Vietnam, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to +20.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+18.3% per year) and Vietnam (+43.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, jumping by 24% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2020 an increase of 45% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced more modest paces of growth.

Frozen Chicken Cut Imports

Imports in South-Eastern Asia

After two years of decline, supplies from abroad of frozen cuts of chicken increased by 16% to X tons in 2022. The total import volume increased at an average annual rate of +2.9% 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 2018 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen chicken cut imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 37%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

The Philippines (X tons) and Vietnam (X tons) were the key importers of frozen cuts of chicken in 2022, amounting to approx. 42% and 28% of total imports, respectively. Singapore (X tons) ranks next in terms of the total imports with a 15% share, followed by Malaysia (11%). Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen chicken cut importing markets in South-Eastern Asia were the Philippines ($X), Singapore ($X) and Vietnam ($X), together accounting for 83% of total imports. Malaysia and Cambodia lagged somewhat behind, together comprising a further 16%.

Cambodia, with a CAGR of +47.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, surging by 6.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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