APAC Red Meat Market Size
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 497.16 Billion |
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Market Size (2029) | USD 543.59 Billion |
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Largest Share by Type | Pork |
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CAGR (2024 - 2029) | 1.80 % |
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Largest Share by Country | China |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
APAC Red Meat Market Analysis
The Asia-Pacific Red Meat Market size is estimated at 497.16 billion USD in 2024, and is expected to reach 543.59 billion USD by 2029, growing at a CAGR of 1.80% during the forecast period (2024-2029).
497.16 Billion
Market Size in 2024 (USD)
543.59 Billion
Market Size in 2029 (USD)
1.90 %
CAGR (2017-2023)
1.80 %
CAGR (2024-2029)
Largest Segment by Type
53.10 %
value share, Pork, 2023
Pork has become the primary protein choice in the region, and it emerged as the default meat type in the base year due to its popularity and changing consumer preferences.
Largest Segment by Country
54.41 %
value share, China, 2023
The abundant availability and growing population are the major factors driving the demand for meat products in China, making it the largest meat-consuming country.
Fastest-growing Segment by Type
2.11 %
Projected CAGR, Pork, 2024-2029
The rising incomes, growing population, and increasing urbanization are the major factors contributing to the growth in pork production and consumption in the region.
Fastest-growing Segment by Country
2.15 %
Projected CAGR, Malaysia, 2024-2029
Consumer preference for meat in Malaysia is much higher than in any other country in the region. The lifestyle of the Malaysian population is impacting meat consumption.
Leading Market Player
2.07 %
market share, WH Group Limited, 2022
The extensive brand recognition and wider product portfolio under a wide brand range ensure the safety of the products offered by the company, making it the market leader.
Advancements in pork production and declining poultry prices are fueling the demand
- The Asia-Pacific red meat market was majorly led by pork meat throughout the study period. It is also anticipated to be the fastest-growing meat type during the forecast period (2023-2029), registering a CAGR of 2.88% by value. This is mainly supported by its growing production rate. It was the most-produced meat type in the region, accounting for a share of 46.8% by value in 2021, and it is anticipated to continue being the highest-produced meat type during the forecast period. As of 2022, China led the global pork production, which was estimated to produce over 50 million metric tons of meat, followed by Vietnam, the second-largest pork meat producer in Asia-Pacific and the seventh-largest globally.
- As of 2022, the second-largest market share by value was occupied by beef, which registered a growth in market sales value by 3.88% from 2017 to 2022, mostly because it was priced less than mutton and pork, making it an affordable addition to people's diets. Beef is the second most widely consumed red meat in Asia, with per capita consumption highest in South Korea, followed by Vietnam. China, Japan, and South Korea import the most beef in Asia. The imports are expected to increase to meet demand unless domestic production is revamped for the better.
- Mutton is the third-largest variety of red meat consumed in the region, with the sales value reaching 4.49% during 2017-2022. For all Asian countries, it has been observed that mutton is costlier than beef, which could have acted as a restraint. However, owing to larger disposable incomes and growing middle-class incomes in South Asian countries, the purchasing power of consumers is expected to increase, thereby implying opportunities for a demand hike for mutton.
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Rising working population and increasing household income driving the market
- The red meat market in Asia-Pacific experienced significant growth during the historical period, growing at a value rate of 5.3% from 2020 to 2022. The most consumed meat type in the region is pork, followed by beef and mutton. Across Asia, pork is the primary protein in many cuisines. Most pork consumed in the region is domestically produced, while imports contribute to a sizable portion. China is one of the largest producers and consumers of pork in the world, producing 53.97 million metric tons of pork in 2022. However, production is expected to decline in the next two years, as a devastating outbreak of African swine fever (ASF) can hamper the country's pork supply.
- The Malaysian red meat market is anticipated to witness the fastest growth among the countries in the region, and it is projected to register a CAGR value of 2.19% during the forecast period (2023-2029). The growth will be driven by the development of the processed red meat segment in the country, as the number of employed people grew to 16.16 million in 2022, growing by 29,000 from the 2021 number. The meat supply chain consists of establishments for slaughtering animals, cutting, processing, packaging, and distributing meat for consumption or sale.
- Pork is the fastest-growing meat segment in the region, and it is projected to register a CAGR of 2.12% from 2023 to 2029. The growing household income continues to be a key driver of rising pork consumption. As customers' options for food expand with the rising disposable incomes, the demand for meat is anticipated to increase in developing countries. The per capita consumption of pork meat increased to 15.76 kg per capita in 2022, with the highest consumption in all meat types, as domestic production is increasing.
Asia-Pacific Red Meat Market Trends
Major producing countries are observing growth owing to the increasing export demand
- In Asia-Pacific, the leading producers of beef were China, India, and Australia, with a volume share of 38.95%, 29.69%, and 9.84%, respectively, in 2022. In China, production grew by 3.22% in 2022 compared to 2021. The production is anticipated to grow in the future, driven by rising cattle herds, particularly on large farms, and strong domestic demand owing to the ongoing pork shortage. High feed costs and lower-cost imports of beef products would have an impact on China's cattle production. Consumer demand for beef products has grown beyond the normal hotel and restaurant trade to include ready-cooked meals.
- The Indian market saw a growth of around 2% in 2022 compared to 2021, owing to the growing export demand and marginally higher domestic consumption. In 2023, India was expected to consume 779 million kg of beef, an increase of 1.84% from 2022, driven largely by its affordable pricing. For the supply and promotion of quality meat, the regulatory bodies in the nation are encouraging farmers' cooperatives to play an important role, including the promotion of backward integration and contract farming.
- In March 2023, the number of cattle slaughtered in Australia increased 13.5% to 1.7 million compared to the previous year. Beef production in the March 2023 quarter increased 11.3% to 524,335 tons compared to the same period in 2022. In 2022, Australia produced approximately 1.9 million tons of carcass weight (cwt) of beef and veal, and in the same year, Australia exported 67% of its total beef and veal production. The plentiful grazing pasture in the country supported the production of grass-fed cattle. In 2022, 2.7 million grain-fed cattle were marketed, accounting for 47% of all adult cattle slaughtered.
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Beef prices are growing at a steady pace in the region owing to the large production base
- In 2022, beef prices in the region were up by 0.96% compared to 2021. This rise in prices was owing to the heated geopolitical conditions, supply imbalance and demand for global commodities, increasing energy prices, and logistic barriers. The beef price index saw a decrease in 2023, reaching 118.48 in June and falling from 135.83 during the same period in 2022, which is anticipated to stabilize the beef prices in the region.
- The price of beef in China highly impacts the Asia-Pacific market, owing to China being the largest producer of beef in the region. The price of beef in China increased at an average of 2.02% throughout the review period compared to a regional average growth rate of 1.40%. The country also imports a good amount of beef from Brazil, which is mainly used in preparing industrialized products and other popular dishes. In 2023, the country saw a decrease in imports owing to the increase in local production, thus stabilizing the prices. The beef prices in the region experience a spike during the festive season. In countries like Indonesia, in 2022, beef prices ranged from USD 9.75 to USD 6.96/kg, whereas it was around USD 11.84/kg during Eid and Ramadan.
- Australia is among the top three producers of beef in the region and a major source of premium beef in the region. More than 60% of the beef produced annually in Australia is exported to the global market. The price of young Australian cattle in the market jumped by 132% in about two years, reaching USD 7.99 in October 2021. Importers from countries such as Indonesia and Vietnam struggled with a combination of a strong Australian currency and rising cattle prices. However, despite the rise in CIF (cost, insurance, and freight), retail beef prices were steady in both Indonesia and Vietnam.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Higher production costs and weaker demand are fluctuating prices
- Governments are supporting production with subsidies; however, supply constraints exist
- Outbreak of African swine fever impacted pork prices across the region
- Investments are being made across major producing nations to overcome outbreaks
APAC Red Meat Industry Overview
The Asia-Pacific Red Meat Market is fragmented, with the top five companies occupying 5.16%. The major players in this market are Cargill Inc., COFCO Corporation, NH Foods Ltd, Tyson Foods Inc. and WH Group Limited (sorted alphabetically).
APAC Red Meat Market Leaders
Cargill Inc.
COFCO Corporation
NH Foods Ltd
Tyson Foods Inc.
WH Group Limited
Other important companies include Allanasons Private Limited, Charoen Pokphand Foods Public Co. Ltd, F & G Foods Pte Ltd, JBS SA, Muyuan Foods Co., Ltd., New Hope Liuhe Co. Ltd.
*Disclaimer: Major Players sorted in alphabetical order.
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APAC Red Meat Market News
- November 2023: Tyson Foods announced plans to build new production facilities in China and Thailand, and expand its facility in the Netherlands. The latest expansions, adds over 100,000 tonnes of fully cooked poultry capacity. The new plant in China and Thailand is expected to create more than 700, 1000 jobs respectively and the European expansion will add more than 150 jobs.
- November 2022: WH Group has expanded it's operations into Europe region by selling its US-based Saratoga Food Specialties seasoning maker to Solina Group, a European company in the same business, through its wholly owned US subsidiary Smithfield Foods. The deal is valued worth USD 587 million.
- October 2021: Tyson Foods Inc. introduced air-fried chicken bites, a protein-packed snack with 75% lesser fat and 35% fewer calories. Tyson® Air Fried Chicken Bites are available in 20 oz packages providing seven servings per bag and protein count per flavor: 13g for Spicy and 14g for Parmesan.
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We offer a comprehensive and exhaustive set of data pointers. These cover global, regional, and country-level metrics that illustrate the fundamentals of the meat and meat substitutes industry. Clients can access in-depth market analysis through 45+ free charts. This analysis is based on the production of various meat and seafood types, as well as the prices of meat, meat substitutes, and different seafood types. We provide granular-level segmental information, supported by a repository of market data, trends, and expert analysis. Data and analysis on meat types, seafood types, meat substitute types, forms, distribution channels, and more are available. These are provided in the form of comprehensive reports as well as Excel-based data worksheets.
APAC Red Meat Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. INTRODUCTION
- 2.1 Study Assumptions & Market Definition
- 2.2 Scope of the Study
- 2.3 Research Methodology
3. KEY INDUSTRY TRENDS
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3.1 Price Trends
- 3.1.1 Beef
- 3.1.2 Mutton
- 3.1.3 Pork
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3.2 Production Trends
- 3.2.1 Beef
- 3.2.2 Mutton
- 3.2.3 Pork
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3.3 Regulatory Framework
- 3.3.1 Australia
- 3.3.2 China
- 3.3.3 India
- 3.3.4 Japan
- 3.4 Value Chain & Distribution Channel Analysis
4. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)
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4.1 Type
- 4.1.1 Beef
- 4.1.2 Mutton
- 4.1.3 Pork
- 4.1.4 Other Meat
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4.2 Form
- 4.2.1 Canned
- 4.2.2 Fresh / Chilled
- 4.2.3 Frozen
- 4.2.4 Processed
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4.3 Distribution Channel
- 4.3.1 Off-Trade
- 4.3.1.1 Convenience Stores
- 4.3.1.2 Online Channel
- 4.3.1.3 Supermarkets and Hypermarkets
- 4.3.1.4 Others
- 4.3.2 On-Trade
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4.4 Country
- 4.4.1 Australia
- 4.4.2 China
- 4.4.3 India
- 4.4.4 Indonesia
- 4.4.5 Japan
- 4.4.6 Malaysia
- 4.4.7 South Korea
- 4.4.8 Rest of Asia-Pacific
5. COMPETITIVE LANDSCAPE
- 5.1 Key Strategic Moves
- 5.2 Market Share Analysis
- 5.3 Company Landscape
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5.4 Company Profiles (includes Global level Overview, Market level overview, Core Business Segments, Financials, Headcount, Key Information, Market Rank, Market Share, Products and Services, and analysis of Recent Developments)
- 5.4.1 Allanasons Private Limited
- 5.4.2 Cargill Inc.
- 5.4.3 Charoen Pokphand Foods Public Co. Ltd
- 5.4.4 COFCO Corporation
- 5.4.5 F & G Foods Pte Ltd
- 5.4.6 JBS SA
- 5.4.7 Muyuan Foods Co., Ltd.
- 5.4.8 New Hope Liuhe Co. Ltd
- 5.4.9 NH Foods Ltd
- 5.4.10 Tyson Foods Inc.
- 5.4.11 WH Group Limited
6. KEY STRATEGIC QUESTIONS FOR MEAT INDUSTRY CEOS
7. APPENDIX
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7.1 Global Overview
- 7.1.1 Overview
- 7.1.2 Porter’s Five Forces Framework
- 7.1.3 Global Value Chain Analysis
- 7.1.4 Market Dynamics (DROs)
- 7.2 Sources & References
- 7.3 List of Tables & Figures
- 7.4 Primary Insights
- 7.5 Data Pack
- 7.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- BEEF PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 2:
- MUTTON PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 3:
- PORK PRICE PER METRIC TON, USD, ASIA-PACIFIC, 2017 - 2023
- Figure 4:
- BEEF PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 5:
- MUTTON PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 6:
- PORK PRODUCTION, METRIC TON, ASIA-PACIFIC, 2017 - 2029
- Figure 7:
- VOLUME OF RED MEAT MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 8:
- VALUE OF RED MEAT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 9:
- VOLUME OF RED MEAT MARKET BY TYPE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 10:
- VALUE OF RED MEAT MARKET BY TYPE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 11:
- VOLUME SHARE OF RED MEAT MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 12:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 13:
- VOLUME OF BEEF MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 14:
- VALUE OF BEEF MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 15:
- VALUE SHARE OF BEEF RED MEAT MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 16:
- VOLUME OF MUTTON MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 17:
- VALUE OF MUTTON MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 18:
- VALUE SHARE OF MUTTON RED MEAT MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 19:
- VOLUME OF PORK MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 20:
- VALUE OF PORK MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 21:
- VALUE SHARE OF PORK RED MEAT MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 22:
- VOLUME OF OTHER MEAT MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 23:
- VALUE OF OTHER MEAT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 24:
- VALUE SHARE OF OTHER MEAT RED MEAT MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 25:
- VOLUME OF RED MEAT MARKET BY FORM, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 26:
- VALUE OF RED MEAT MARKET BY FORM, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 27:
- VOLUME SHARE OF RED MEAT MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 28:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY FORM, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 29:
- VOLUME OF CANNED RED MEAT MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 30:
- VALUE OF CANNED RED MEAT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 31:
- VALUE SHARE OF CANNED RED MEAT MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 32:
- VOLUME OF FRESH / CHILLED RED MEAT MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 33:
- VALUE OF FRESH / CHILLED RED MEAT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 34:
- VALUE SHARE OF FRESH / CHILLED RED MEAT MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 35:
- VOLUME OF FROZEN RED MEAT MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 36:
- VALUE OF FROZEN RED MEAT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 37:
- VALUE SHARE OF FROZEN RED MEAT MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 38:
- VOLUME OF PROCESSED RED MEAT MARKET, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 39:
- VALUE OF PROCESSED RED MEAT MARKET, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 40:
- VALUE SHARE OF PROCESSED RED MEAT MARKET SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 41:
- VOLUME OF RED MEAT MARKET BY DISTRIBUTION CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 42:
- VALUE OF RED MEAT MARKET BY DISTRIBUTION CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 43:
- VOLUME SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 44:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 45:
- VOLUME OF RED MEAT MARKET SOLD VIA OFF-TRADE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 46:
- VALUE OF RED MEAT MARKET SOLD VIA OFF-TRADE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 47:
- VOLUME OF RED MEAT MARKET SOLD VIA OFF-TRADE CHANNELS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 48:
- VALUE OF RED MEAT MARKET SOLD VIA OFF-TRADE CHANNELS, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 49:
- VOLUME OF RED MEAT MARKET SOLD VIA CONVENIENCE STORES, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 50:
- VALUE OF RED MEAT MARKET SOLD VIA CONVENIENCE STORES, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 51:
- VALUE SHARE OF RED MEAT MARKET SOLD VIA CONVENIENCE STORES SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 52:
- VOLUME OF RED MEAT MARKET SOLD VIA ONLINE CHANNEL, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 53:
- VALUE OF RED MEAT MARKET SOLD VIA ONLINE CHANNEL, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 54:
- VALUE SHARE OF RED MEAT MARKET SOLD VIA ONLINE CHANNEL SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 55:
- VOLUME OF RED MEAT MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 56:
- VALUE OF RED MEAT MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 57:
- VALUE SHARE OF RED MEAT MARKET SOLD VIA SUPERMARKETS AND HYPERMARKETS SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 58:
- VOLUME OF RED MEAT MARKET SOLD VIA OTHERS, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 59:
- VALUE OF RED MEAT MARKET SOLD VIA OTHERS, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 60:
- VALUE SHARE OF RED MEAT MARKET SOLD VIA OTHERS SPLIT BY TYPE, %, ASIA-PACIFIC, 2022 VS 2029
- Figure 61:
- VOLUME OF RED MEAT MARKET SOLD VIA ON-TRADE, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 62:
- VALUE OF RED MEAT MARKET SOLD VIA ON-TRADE, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 63:
- VOLUME OF RED MEAT MARKET BY COUNTRY, METRIC TONS, ASIA-PACIFIC, 2017 - 2029
- Figure 64:
- VALUE OF RED MEAT MARKET BY COUNTRY, USD, ASIA-PACIFIC, 2017 - 2029
- Figure 65:
- VOLUME SHARE OF RED MEAT MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 66:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY COUNTRY, %, ASIA-PACIFIC, 2017 VS 2023 VS 2029
- Figure 67:
- VOLUME OF RED MEAT MARKET, METRIC TONS, AUSTRALIA, 2017 - 2029
- Figure 68:
- VALUE OF RED MEAT MARKET, USD, AUSTRALIA, 2017 - 2029
- Figure 69:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, AUSTRALIA, 2022 VS 2029
- Figure 70:
- VOLUME OF RED MEAT MARKET, METRIC TONS, CHINA, 2017 - 2029
- Figure 71:
- VALUE OF RED MEAT MARKET, USD, CHINA, 2017 - 2029
- Figure 72:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, CHINA, 2022 VS 2029
- Figure 73:
- VOLUME OF RED MEAT MARKET, METRIC TONS, INDIA, 2017 - 2029
- Figure 74:
- VALUE OF RED MEAT MARKET, USD, INDIA, 2017 - 2029
- Figure 75:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDIA, 2022 VS 2029
- Figure 76:
- VOLUME OF RED MEAT MARKET, METRIC TONS, INDONESIA, 2017 - 2029
- Figure 77:
- VALUE OF RED MEAT MARKET, USD, INDONESIA, 2017 - 2029
- Figure 78:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, INDONESIA, 2022 VS 2029
- Figure 79:
- VOLUME OF RED MEAT MARKET, METRIC TONS, JAPAN, 2017 - 2029
- Figure 80:
- VALUE OF RED MEAT MARKET, USD, JAPAN, 2017 - 2029
- Figure 81:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, JAPAN, 2022 VS 2029
- Figure 82:
- VOLUME OF RED MEAT MARKET, METRIC TONS, MALAYSIA, 2017 - 2029
- Figure 83:
- VALUE OF RED MEAT MARKET, USD, MALAYSIA, 2017 - 2029
- Figure 84:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, MALAYSIA, 2022 VS 2029
- Figure 85:
- VOLUME OF RED MEAT MARKET, METRIC TONS, SOUTH KOREA, 2017 - 2029
- Figure 86:
- VALUE OF RED MEAT MARKET, USD, SOUTH KOREA, 2017 - 2029
- Figure 87:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, SOUTH KOREA, 2022 VS 2029
- Figure 88:
- VOLUME OF RED MEAT MARKET, METRIC TONS, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 89:
- VALUE OF RED MEAT MARKET, USD, REST OF ASIA-PACIFIC, 2017 - 2029
- Figure 90:
- VALUE SHARE OF RED MEAT MARKET SPLIT BY DISTRIBUTION CHANNEL, %, REST OF ASIA-PACIFIC, 2022 VS 2029
- Figure 91:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, COUNT, ASIA-PACIFIC, 2020 - 2023
- Figure 92:
- MOST ADOPTED STRATEGIES, COUNT, ASIA-PACIFIC, 2020 - 2023
- Figure 93:
- VALUE SHARE OF MAJOR PLAYERS, %, ASIA-PACIFIC, 2022
Asia-Pacific Red Meat Industry Segmentation
Beef, Mutton, Pork are covered as segments by Type. Canned, Fresh / Chilled, Frozen, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel. Australia, China, India, Indonesia, Japan, Malaysia, South Korea are covered as segments by Country.
- The Asia-Pacific red meat market was majorly led by pork meat throughout the study period. It is also anticipated to be the fastest-growing meat type during the forecast period (2023-2029), registering a CAGR of 2.88% by value. This is mainly supported by its growing production rate. It was the most-produced meat type in the region, accounting for a share of 46.8% by value in 2021, and it is anticipated to continue being the highest-produced meat type during the forecast period. As of 2022, China led the global pork production, which was estimated to produce over 50 million metric tons of meat, followed by Vietnam, the second-largest pork meat producer in Asia-Pacific and the seventh-largest globally.
- As of 2022, the second-largest market share by value was occupied by beef, which registered a growth in market sales value by 3.88% from 2017 to 2022, mostly because it was priced less than mutton and pork, making it an affordable addition to people's diets. Beef is the second most widely consumed red meat in Asia, with per capita consumption highest in South Korea, followed by Vietnam. China, Japan, and South Korea import the most beef in Asia. The imports are expected to increase to meet demand unless domestic production is revamped for the better.
- Mutton is the third-largest variety of red meat consumed in the region, with the sales value reaching 4.49% during 2017-2022. For all Asian countries, it has been observed that mutton is costlier than beef, which could have acted as a restraint. However, owing to larger disposable incomes and growing middle-class incomes in South Asian countries, the purchasing power of consumers is expected to increase, thereby implying opportunities for a demand hike for mutton.
| Type | Beef | |
| Mutton | ||
| Pork | ||
| Other Meat | ||
| Form | Canned | |
| Fresh / Chilled | ||
| Frozen | ||
| Processed | ||
| Distribution Channel | Off-Trade | Convenience Stores |
| Online Channel | ||
| Supermarkets and Hypermarkets | ||
| Others | ||
| Distribution Channel | On-Trade | |
| Country | Australia | |
| China | ||
| India | ||
| Indonesia | ||
| Japan | ||
| Malaysia | ||
| South Korea | ||
| Rest of Asia-Pacific |
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Market Definition
- Meat - Meat is defined as the flesh or other edible parts of an animal used for food. The end use of the meat industry consists of only human consumption. Meat is generally purchased from retail outlets for home cooking and consumption. For the market studied, only uncooked meat has been considered. This could be processed in various forms, which have been covered under the “Processed” form. The other purchases of meat happen through the consumption of meat at foodservice outlets (restaurants, hotels, catering, etc.).
- Other Meats - The other meat segment includes the meat of camel, horse, rabbit, etc. These are not so commonly consumed meat types but still, have a presence in distinct parts of the world. Regardless of it being part of red meat, we have considered these meat types separately for a better understanding of the market.
- Poultry Meat - Poultry meat also called white meat, comes from birds raised commercially or domestically for human consumption. This includes chicken, turkey, ducks, and geese.
- Red Meat - Red meat typically has a red color when raw and a dark color when cooked. It includes any meat that comes from mammals, such as beef, lamb, pork, goat, veal, and mutton.
| Keyword | Definition |
|---|---|
| A5 | It is a Japanese grading system for beef. The 'A' means the carcass yield is the highest possible and the numeric rating relates to beef marbling, color and brightness of the flesh, its texture and color, luster, and fat quality. A5 is the highest mark wagyu beef can score. |
| Abbatoir | It is another name for a slaughterhouse and refers to the premise used for or in connection with the slaughter of animals whose meat is intended for human consumption. |
| Acute Hepatopancreatic Necrosis Disease (AHPND) | It is a disease that affects shrimp and is characterized by high mortalities, in many cases reaching 100% within 30-35 days of stocking grow-out ponds. |
| African Swine Fever (ASF) | It is a highly contagious viral disease of pigs caused by a double-stranded DNA virus in the Asfarviridae family. |
| Albacore Tuna | It is one of the smallest species of tuna found in the six distinct stocks known globally in the Atlantic, Pacific, and Indian oceans, as well as the Mediterranean Sea. |
| Angus beef | It is beef derived from a specific breed of cattle indigenous to Scotland. It requires certification from the American Angus Association to receive the "Certified Angus Beef" quality mark |
| Bacon | It is salted or smoked meat that comes from the back or sides of a pig |
| Black Angus | It is beef derived from a black-hided breed of cows that don't have horns. |
| Bologna | It is an Italian smoked sausage made of meat, typically large and made from pork, beef or veal. |
| Bovine spongiform encephalopathy (BSE) | It is a progressive neurological disorder of cattle that results from infection by an unusual transmissible agent called a prion. |
| Bratwurst | It refers to a type of German sausage made from pork, beef or veal. |
| BRC | British Retail Consortium |
| Brisket | It is a cut of meat from the breast or lower chest of beef or veal. The beef brisket is one of the nine beef primal cuts. |
| Broiler | It refers to any chicken (Gallus domesticus) that is bred and raised specifically for meat production. |
| Bushel | It is a unit of measurement for grains and pulses. 1 bushel = 27.216 kg |
| Carcass | It refers to the dressed body of a meat animal from which butchers trim the meat |
| CFIA | Canadian Food Inspection Agency |
| Chicken Tender | It refers to chicken meat prepared from the pectoralis minor muscles of a chicken bird. |
| Chuck Steak | It refers to a cut of beef that is part of the chuck primal, which is a large section of meat from the shoulder area of a cow |
| Corned Beef | It refers to beef brisket cured in brine and boiled, typically served cold. |
| CWT | Also known as a hundredweight, it is a unit of measurement used to define the quantity of meat. 1 CWT = 50.80 kg |
| Drumstick | It refers to a chicken leg without the thigh. |
| EFSA | European Food Safety Authority |
| ERS | Economic Research Service of the USDA |
| Ewe | It is an adult female sheep. |
| FDA | Food and Drug Administration |
| Fillet Mignon | It is a cut of meat taken from the smaller end of the tenderloin. |
| Flank Steak | It is a cut of beef steak taken from the flank, which lies forward of the rear quarter of a cow. |
| Foodservice | It refers to the part of the food industry which includes businesses, institutions, and companies which prepare meals outside the home. It includes restaurants, school and hospital cafeterias, catering operations, and many other formats. |
| Forage | It refers to animal feed. |
| Foreshank | It is the upper part of the foreleg of cattle |
| Franks | Also known as frankfurter or Würstchen, it is a type of highly seasoned smoked sausage popular in Austria and Germany. |
| FSANZ | Food Standards Australia New Zealand |
| FSIS | Food Safety and Inspection Service |
| FSSAI | Food Safety and Standards Authority of India |
| Gizzard | It refers to an organ found in the digestive tract of birds. It is also called the mechanical stomach of a bird. |
| Gluten | It is a family of proteins found in grains, including wheat, rye, spelt, and barley |
| Grain-fed beef | It is beef derived from cattle that have been fed a diet supplemented with soy and corn and other additives. Grainfed cows can also be given antibiotics and growth hormones to fatten them up more quickly. |
| Grass-fed beef | It is beef derived from cattle that have only been fed grass as feed. |
| Ham | It refers to the pork meat taken from the leg of a pig. |
| HoReCa | Hotels, Restaurants and Cafes |
| Jerky | It is lean trimmed meat that has been cut into strips and dried (dehydrated) to prevent spoilage. |
| Kobe Beef | It is Wagyu beef specifically from the Kuroge Washu breed of cows in Japan. To be classified as Kobe beef, the cow must have been born, raised, and slaughtered within the Hyōgo prefecture in the city of Kobe in Japan. |
| Liverwurst | It is type of German sausage made from beef or pork liver. |
| Loin | It refers to the sides between the lower ribs and pelvis, and the lower part of the back of a cow. |
| Mortadella | It is a large Italian sausage or luncheon meat made of finely hashed or ground heat-cured pork, which incorporates at least 15% small cubes of pork fat. |
| Pastrami | It refers to a highly seasoned smoked beef, typically served in thin slices. |
| Pepperoni | It is an American variety of spicy salami made from cured meat. |
| Plate | It refers to a forequarter cut from the belly of a cow, just below the rib cut. |
| Porcine reproductive and respiratory syndrome (PRRS) | It is a disease occurring in swine causing late-term reproductive failure and severe pneumonia in neonatal pigs. |
| Primal cuts | It refers to the major sections of the carcass. |
| Quorn | It is a meat substitute product prepared using mycoprotein as an ingredient, in which the fungus culture is dried and mixed with egg albumen or potato protein, which acts as a binder, and then is adjusted in texture and pressed into various forms. |
| Ready-to-Cook (RTC) | It refers to food products that include all of the ingredients, where some preparation or cooking is required through a process that is given on the package. |
| Ready-to-Eat (RTE) | It refers to a food product prepared or cooked in advance, with no further cooking or preparation required before being eaten |
| Retort Packaging | It is a process of aseptic packaging food in which food is filled into a pouch or metal can, sealed, and then heated to extremely high temperatures, rendering the product commercially sterile. |
| Round Steak | It refers to a beef steak from the the rear leg of the cow. |
| Rump Steak | It refers to a cut of beef derived from the division between the leg and the chine. |
| Salami | It is a cured sausage consisting of fermented and air-dried meat. |
| Saturated fat | It is a type of fat in which the fatty acid chains have all single bonds. It is generally considered unhealthy. |
| Sausage | It is a meat product made of finely chopped and seasoned meat, which may be fresh, smoked, or pickled and which is then usually stuffed into a casing. |
| Scallop | It is an edible shellfish that is a mollusk with a ribbed shell in two parts. |
| Seitan | It is a plant-based meat substitute made out of wheat gluten. |
| Self-service kios | It refers to a self-order point-of-sale (POS) system through which customers place and pay for their own orders at kiosks, enabling totally contactless and frictionless service. |
| Sirloin | It is a cut of beef from the bottom and side parts of a cow's back. |
| Surimi | It is a paste made from deboned fish |
| Tenderloin | It refers to a cut of beef consisting of the entire tenderloin muscle of a cow |
| Tiger Shrimp | It refers to a large shrimp variety from the Indian and Pacific oceans |
| Trans fat | Also called trans-unsaturated fatty acids or trans fatty acids, it is a type of unsaturated fat that naturally occurs in small amounts in meat. |
| Vannamei shrimp | It refers to tropical prawns and shrimp that are farmed in areas near the equator, generally along the coast in artificial ponds. |
| Wagyu Bee | It is beef derived from any of four strains of a breed of black or red Japanese cattle that are valued for their highly marbled meat. |
| Zoosanitary | It refers to the cleanliness of animals or animal product |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step 1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set, and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms.
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