Thailand: Meat Market 2024

Meat Market Size in Thailand

The Thai meat market rose modestly to $X in 2022, surging by X% against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value 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, consumption increased by X% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Meat Production in Thailand

In value terms, meat production expanded modestly to $X in 2022 estimated in export price. In general, production recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

The average yield of meat in Thailand amounted to X kg per head in 2022, remaining stable against 2021. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. The meat yield peaked at X kg per head in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure.

The number of animals slaughtered for meat production in Thailand totaled X heads in 2022, almost unchanged from 2021. Overall, the number of producing animals, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the number of producing animals increased by X%. As a result, the amount of producing animals attained the peak level of X heads. From 2014 to 2022, the growth of this number remained at a lower figure.

Meat Exports

Exports from Thailand

In 2022, shipments abroad of meat decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, exports showed a sharp setback. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, meat exports shrank remarkably to $X in 2022. Over the period under review, exports saw a dramatic slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for meat exports from Thailand, with a X% share of total exports. Moreover, meat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Myanmar (X tons), twofold. The third position in this ranking was held by Cambodia (X tons), with a X% share.

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

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

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

Export Prices by Country

The average meat export price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, export price indicated a notable increase 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, meat export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Cambodia ($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 Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Imports

Imports into Thailand

In 2022, supplies from abroad of meat increased by X% to X tons, rising for the fifth consecutive year after two years of decline. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, meat imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X tons), Argentina (X tons) and New Zealand (X tons) were the main suppliers of meat imports to Thailand, together accounting for X% of total imports. Brazil, the United States and Japan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Australia ($X) constituted the largest supplier of meat to Thailand, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Japan (X% per year).

Import Prices by Country

The average meat import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated prominent growth 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, meat import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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