Vietnam: Preserved Beef Market 2024

Preserved Beef Market Size in Vietnam

The Vietnamese preserved beef market rose remarkably to $X in 2022, surging by X% against the previous year. Overall, consumption, however, continues to indicate a pronounced contraction. Preserved beef consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Preserved Beef Production in Vietnam

In value terms, preserved beef production expanded sharply to $X in 2022 estimated in export price. In general, production, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Preserved Beef Exports

Exports from Vietnam

For the third year in a row, Vietnam recorded decline in shipments abroad of beef and veal (salted, in brine, dried or smoked), which decreased by X% to X tons in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, preserved beef exports dropped notably to $X in 2022. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), India (X tons) and Hong Kong SAR (X tons) were the main destinations of preserved beef exports from Vietnam, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved beef exported from Vietnam were China ($X), India ($X) and Hong Kong SAR ($X), together accounting for X% of total exports.

Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average preserved beef export price amounted to $X per ton, falling by X% against the previous year. In general, export price indicated pronounced 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. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then shrank remarkably in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Cambodia ($X per ton) and South Korea ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and China ($X per ton) were amongst the lowest.

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

Preserved Beef Imports

Imports into Vietnam

In 2022, approx. X tons of beef and veal (salted, in brine, dried or smoked) were imported into Vietnam; which is down by X% on the previous year's figure. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, preserved beef imports contracted remarkably to $X in 2022. Overall, imports showed a slight decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest preserved beef supplier to Vietnam, with a X% share of total imports. Moreover, preserved beef imports from Australia exceeded the figures recorded by the second-largest supplier, Spain (X kg), sevenfold.

From 2016 to 2022, the average annual growth rate of volume from Australia amounted to X%.

In value terms, Australia ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Spain ($X), with a X% share of total imports.

From 2016 to 2022, the average annual rate of growth in terms of value from Australia stood at X%.

Import Prices by Country

The average preserved beef import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2016 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2016 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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