Asia-Pacific: Fresh Chicken Cut Market 2024

Fresh Chicken Cut Market Size in Asia-Pacific

The Asia-Pacific fresh chicken cut market contracted modestly to $X in 2021, with a decrease of -1.9% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the market value increased by 10%. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Fresh Chicken Cut Production in Asia-Pacific

In value terms, fresh chicken cut production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then fell slightly in the following year.

China (X tons) remains the largest fresh chicken cut producing country in Asia-Pacific, accounting for 34% of total volume. Moreover, fresh chicken cut production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. Indonesia (X tons) ranked third in terms of total production with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in China stood at +4.2%. In the other countries, the average annual rates were as follows: India (+8.0% per year) and Indonesia (+2.5% per year).

Fresh Chicken Cut Exports

Exports in Asia-Pacific

After two years of decline, overseas shipments of fresh or chilled cuts of chicken increased by 42% to X tons in 2021. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 70%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, fresh chicken cut exports surged to $X in 2021. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 140%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) represented the major exporter of fresh or chilled cuts of chicken, achieving 66% of total exports. China (X tons) held the second position in the ranking, distantly followed by New Zealand (X tons). All these countries together took near 27% share of total exports. The following exporters - Australia (X tons) and Malaysia (X tons) - each resulted at a 3.9% share of total exports.

Exports from Thailand increased at an average annual rate of +3.9% from 2012 to 2021. At the same time, China (+45.1%), New Zealand (+24.5%) and Australia (+18.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +45.1% from 2012-2021. By contrast, Malaysia (-15.7%) illustrated a downward trend over the same period. While the share of China (+19 p.p.) and New Zealand (+5.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-6.5 p.p.) and Malaysia (-10.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fresh chicken cut supplying countries in Asia-Pacific were Thailand ($X), China ($X) and New Zealand ($X), with a combined 93% share of total exports.

Among the main exporting countries, China, with a CAGR of +38.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, declining by -10.2% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the export price increased by 51%. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of origin: the country with the highest price was New Zealand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.6%), while the other leaders experienced more modest paces of growth.

Fresh Chicken Cut Imports

Imports in Asia-Pacific

In 2021, fresh chicken cut imports in Asia-Pacific was estimated at X tons, growing by 5.5% against 2020 figures. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 55%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, fresh chicken cut imports shrank to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.6% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 40%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Myanmar (X tons) and Hong Kong SAR (X tons) represented roughly 65% of total imports in 2021. Samoa (X tons) ranks next in terms of the total imports with a 5.3% share, followed by Vietnam (5.1%), Macao SAR (4.6%) and Malaysia (4.5%). Taiwan (Chinese) (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hong Kong SAR (with a CAGR of +39.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported fresh or chilled cuts of chicken in Asia-Pacific, comprising 52% of total imports. The second position in the ranking was held by Myanmar ($X), with a 22% share of total imports. It was followed by Macao SAR, with a 4.8% share.

In Hong Kong SAR, fresh chicken cut imports increased at an average annual rate of +29.8% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Myanmar (+45.5% per year) and Macao SAR (+25.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, which is down by -8.1% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 an increase of 33%. The level of import peaked at $X per ton in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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