South-Eastern Asia: Processed Meat Market 2024

Processed Meat Market Size in South-Eastern Asia

The Southeast Asian processed meat market dropped slightly to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2022, and then dropped modestly in the following year.

Processed Meat Production in South-Eastern Asia

In value terms, processed meat production shrank to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2022, and then contracted modestly in the following year.

Processed Meat Exports

Exports in South-Eastern Asia

After two years of growth, overseas shipments of processed meat decreased by X% to X tons in 2023. Total exports indicated a noticeable expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, processed meat exports shrank slightly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

Thailand prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. Malaysia (X tons) ranks second in terms of the total exports with a X% share, followed by Vietnam (X%).

Exports from Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Vietnam and Malaysia increased by X and X percentage points, respectively.

In value terms, Thailand ($X) remains the largest processed meat supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

In Thailand, processed meat exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, leveling off at the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Processed Meat Imports

Imports in South-Eastern Asia

In 2023, approx. X tons of processed meat were imported in South-Eastern Asia; surging by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, processed meat imports reduced slightly to $X in 2023. Total imports indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then reduced in the following year.

Imports by Country

In 2023, Singapore (X tons), distantly followed by the Philippines (X tons), Thailand (X tons), Cambodia (X tons) and Vietnam (X tons) represented the main importers of processed meat, together achieving X% of total imports. The following importers - Myanmar (X tons) and Indonesia (X tons) - each reached a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported processed meat in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by the Philippines ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Singapore amounted to X%. In the other countries, the average annual rates were as follows: the Philippines (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, falling by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then fell slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform