Asia: Preserved Beef Market 2024

Preserved Beef Market Size in Asia

The Asian preserved beef market expanded significantly to $X in 2023, with an increase of X% against the previous year. Overall, consumption continues to indicate prominent growth. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Preserved Beef Production in Asia

In value terms, preserved beef production expanded to $X in 2023 estimated in export price. The total production indicated measured growth from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Preserved Beef Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of beef and veal (salted, in brine, dried or smoked), which increased by X% to X tons in 2023. Overall, exports posted a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked in 2023 and is likely to see gradual growth in the near future.

In value terms, preserved beef exports surged to $X in 2023. In general, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

In 2023, Malaysia (X tons) represented the major exporter of beef and veal (salted, in brine, dried or smoked), achieving X% of total exports. It was distantly followed by India (X tons), constituting a X% share of total exports. The following exporters - Hong Kong SAR (X tons) and Bangladesh (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to preserved beef exports from Malaysia stood at X%. At the same time, Hong Kong SAR (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, India (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Malaysia and Hong Kong SAR increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest preserved beef supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Malaysia amounted to X%. In the other countries, the average annual rates were as follows: India (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Preserved Beef Imports

Imports in Asia

In 2023, after three years of growth, there was significant decline in overseas purchases of beef and veal (salted, in brine, dried or smoked), when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then declined rapidly in the following year.

In value terms, preserved beef imports contracted sharply to $X in 2023. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2022, and then dropped markedly in the following year.

Imports by Country

The purchases of the one major importers of beef and veal (salted, in brine, dried or smoked), namely Hong Kong SAR, represented more than two-thirds of total import.

Hong Kong SAR was also the fastest-growing in terms of the beef and veal (salted, in brine, dried or smoked) imports, with a CAGR of X% from 2012 to 2023. While the share of Hong Kong SAR (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported beef and veal (salted, in brine, dried or smoked) in Asia.

In Hong Kong SAR, preserved beef imports expanded at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, approximately equating the previous year. Import price indicated a mild expansion from 2012 to 2023: its price 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, preserved beef import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2023, the rate of growth in terms of prices for Hong Kong SAR amounted to X% per year.

Source: IndexBox Platform