ASEAN: Frozen Chicken Cut Market 2024

Frozen Chicken Cut Market Size in ASEAN

In 2022, the ASEAN frozen chicken cut market increased by 8% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Frozen Chicken Cut Production in ASEAN

In value terms, frozen chicken cut production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Thailand (X tons) and Myanmar (X tons), with a combined 95% share of total production.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +9.0%), while production for the other leaders experienced mixed trends in the production figures.

Frozen Chicken Cut Exports

Exports in ASEAN

In 2022, the amount of frozen cuts of chicken exported in ASEAN stood at X tons, remaining stable against the year before. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 61%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen chicken cut exports skyrocketed to $X in 2022. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 71%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Thailand dominates exports structure, reaching X tons, which was near 87% of total exports in 2022. It was distantly followed by Singapore (X tons), creating a 7.3% share of total exports. Vietnam (X tons) and Malaysia (X tons) took a relatively small share of total exports.

Exports from Thailand increased at an average annual rate of +15.5% from 2012 to 2022. At the same time, Vietnam (+40.6%), Singapore (+19.1%) and Malaysia (+2.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +40.6% from 2012-2022. While the share of Thailand (+7.3 p.p.), Vietnam (+3.1 p.p.) and Singapore (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-4.3 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest frozen chicken cut supplier in ASEAN, comprising 94% of total exports. The second position in the ranking was taken by Singapore ($X), with a 4.2% share of total exports. It was followed by Vietnam, with a 1.6% share.

In Thailand, frozen chicken cut exports increased at an average annual rate of +20.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+18.3% per year) and Vietnam (+43.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, increasing by 24% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2020 when the export price increased by 45% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Frozen Chicken Cut Imports

Imports in ASEAN

In 2022, supplies from abroad of frozen cuts of chicken was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 36%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, frozen chicken cut imports soared to $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 37%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

The Philippines (X tons) and Vietnam (X tons) represented roughly 71% of total imports in 2022. Singapore (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (11%). Cambodia (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +55.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Singapore ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 83% of total imports. Malaysia and Cambodia lagged somewhat behind, together comprising a further 16%.

Cambodia, with a CAGR of +47.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, rising by 6.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 12%. Over the period under review, import prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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