South-Eastern Asia: Frozen Pork Cut Market 2024

Frozen Pork Cut Market Size in South-Eastern Asia

In 2022, the Southeast Asian frozen pork cut market increased by 5.9% to $X, rising for the sixth consecutive year after three years of decline. Over the period under review, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Frozen Pork Cut Production in South-Eastern Asia

In value terms, frozen pork cut production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by 53%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Indonesia (X tons) constituted the country with the largest volume of frozen pork cut production, accounting for 70% of total volume. Moreover, frozen pork cut production in Indonesia exceeded the figures recorded by the second-largest producer, Thailand (X tons), twofold.

In Indonesia, frozen pork cut production expanded at an average annual rate of +6.5% over the period from 2012-2022.

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Frozen Pork Cut Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded decline in shipments abroad of frozen hams, shoulders and cuts of pig meat, which decreased by -62.4% to X tons in 2022. In general, exports, however, saw modest growth. The growth pace was the most rapid in 2015 when exports increased by 684% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen pork cut exports dropped rapidly to $X in 2022. Over the period under review, exports, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2015 with an increase of 837%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X tons) and Thailand (X tons) prevails in exports structure, together committing 94% of total exports. It was distantly followed by Vietnam (X tons), committing a 5.7% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +34.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X), Singapore ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 100% share of total exports.

In terms of the main exporting countries, Singapore, with a CAGR of +29.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 16% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen pork cut export price increased by +78.1% against 2016 indices. The pace of growth was the most pronounced in 2021 an increase of 20%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore ($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 (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Frozen Pork Cut Imports

Imports in South-Eastern Asia

After two years of growth, purchases abroad of frozen hams, shoulders and cuts of pig meat decreased by -1.9% to X tons in 2022. Overall, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 129% against the previous year. As a result, imports attained the peak of X tons, and then fell modestly in the following year.

In value terms, frozen pork cut imports fell to $X in 2022. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 131% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, the Philippines (X tons) was the major importer of frozen hams, shoulders and cuts of pig meat, achieving 73% of total imports. It was distantly followed by Vietnam (X tons), creating a 25% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen pork cut imports into the Philippines stood at +26.3%. At the same time, Vietnam (+40.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +40.0% from 2012-2022. From 2012 to 2022, the share of Vietnam and the Philippines increased by +18 and +16 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported frozen hams, shoulders and cuts of pig meat in South-Eastern Asia, comprising 70% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 25% share of total imports.

In the Philippines, frozen pork cut imports expanded at an average annual rate of +27.2% over the period from 2012-2022.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with a decrease of -4.7% against the previous year. Over the period under review, the import price recorded a slight curtailment. The pace of growth was the most pronounced in 2020 an increase of 14%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the Philippines amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+0.7%).

Source: IndexBox Platform

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