Asia-Pacific: Preserved Turkey Market 2024

Preserved Turkey Market Size in Asia-Pacific

The Asia-Pacific preserved turkey market expanded notably to $X in 2023, growing by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Preserved Turkey Production in Asia-Pacific

In value terms, preserved turkey production rose remarkably to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Preserved Turkey Exports

Exports in Asia-Pacific

For the fifth year in a row, Asia-Pacific recorded decline in shipments abroad of prepared or preserved meat or offal of turkeys, which decreased by X% to X tons in 2023. In general, exports, however, saw a moderate expansion. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved turkey exports reduced remarkably to $X in 2023. Overall, exports, however, saw a tangible increase. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Thailand (X tons) represented the main exporter of prepared or preserved meat or offal of turkeys, comprising X% of total exports. Hong Kong SAR (X tons) ranks second in terms of the total exports with an X% share, followed by Vietnam (X%), Indonesia (X%), the Philippines (X%) and South Korea (X%). Singapore (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%), South Korea (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Vietnam (X%), Singapore (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand, the Philippines, Indonesia and South Korea increased by X, X, X and X percentage points, respectively.

In value terms, the largest preserved turkey supplying countries in Asia-Pacific were Thailand ($X), Hong Kong SAR ($X) and Vietnam ($X), with a combined X% share of total exports. South Korea, Singapore, the Philippines and Indonesia lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, leveling off at the previous year. In general, the export price, however, showed a mild decline. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

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 South Korea ($X per ton), while Thailand ($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.

Preserved Turkey Imports

Imports in Asia-Pacific

In 2023, overseas purchases of prepared or preserved meat or offal of turkeys were finally on the rise to reach X tons for the first time since 2017, thus ending a five-year declining trend. Over the period under review, imports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, preserved turkey imports amounted to $X in 2023. Overall, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Japan (X tons), distantly followed by Hong Kong SAR (X tons), French Polynesia (X tons), Thailand (X tons), New Caledonia (X tons), Singapore (X tons) and Australia (X tons) represented the key importers of prepared or preserved meat or offal of turkeys, together constituting X% of total imports. Taiwan (Chinese) (X tons), Cambodia (X tons), India (X tons), the Philippines (X tons), Vietnam (X tons) and Myanmar (X tons) took a relatively small share of total imports.

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

In value terms, the largest preserved turkey importing markets in Asia-Pacific were Japan ($X), Hong Kong SAR ($X) and Singapore ($X), with a combined X% share of total imports. Thailand, French Polynesia, Australia, New Caledonia, Taiwan (Chinese), Vietnam, India, Cambodia, Myanmar and the Philippines lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, which is down by X% against the previous year. Import price indicated a measured expansion from 2012 to 2023: its price 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. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was India ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform