China's Processed Meat Market: Anticipated CAGR of +0.8% for the Period 2024-2035 - News and Statistics - IndexBox

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The processed meat market in China is expected to experience continued growth due to rising demand. Market performance is forecasted to slow down, with a projected CAGR of +0.8% in volume and +1.1% in value from 2024 to 2035. By the end of 2035, the market volume is expected to reach 57M tons, and the market value is projected to be $250.7B in nominal prices.

Driven by increasing demand for processed meat in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market volume to 57M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.1% for the period from 2024 to 2035, which is projected to bring the market value to $250.7B (in nominal wholesale prices) by the end of 2035.

Processed meat consumption in China was estimated at 52M tons in 2024, remaining constant against the year before. The total consumption volume increased at an average annual rate of +2.3% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, consumption reached the maximum volume at 53M tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The revenue of the processed meat market in China declined slightly to $221.5B in 2024, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $264.7B. From 2017 to 2024, the growth of the market remained at a lower figure.

Prepared or preserved meat (33M tons) constituted the product with the largest volume of consumption, comprising approx. 63% of total volume. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, sausages and similar products of meat (11M tons), threefold. The third position in this ranking was taken by salted, dried or smoked meat, and offal (6M tons), with an 11% share.

From 2013 to 2024, the average annual rate of growth in terms of the volume of prepared or preserved meat consumption totaled +1.7%. With regard to the other consumed products, the following average annual rates of growth were recorded: sausages and similar products of meat (+3.8% per year) and salted, dried or smoked meat, and offal (+2.3% per year).

In value terms, prepared or preserved meat ($142.2B) led the market, alone. The second position in the ranking was held by sausages and similar products of meat ($39.2B). It was followed by salted, dried or smoked meat, and offal.

From 2013 to 2024, the average annual rate of growth in terms of the value of prepared or preserved meat market totaled +1.6%. With regard to the other consumed products, the following average annual rates of growth were recorded: sausages and similar products of meat (+0.5% per year) and salted, dried or smoked meat, and offal (+2.7% per year).

In 2024, the amount of processed meat produced in China totaled 53M tons, almost unchanged from 2023 figures. The total output volume increased at an average annual rate of +2.3% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 6.3% against the previous year. Over the period under review, production hit record highs at 53M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, processed meat production fell slightly to $221.7B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 41%. As a result, production attained the peak level of $294.2B. From 2017 to 2024, production growth remained at a somewhat lower figure.

Prepared or preserved meat (33M tons) constituted the product with the largest volume of production, accounting for 63% of total volume. Moreover, prepared or preserved meat exceeded the figures recorded for the second-largest type, sausages and similar products of meat (12M tons), threefold. The third position in this ranking was taken by salted, dried or smoked meat, and offal (6M tons), with an 11% share.

From 2013 to 2024, the average annual growth rate of the volume of prepared or preserved meat production stood at +1.7%. With regard to the other produced products, the following average annual rates of growth were recorded: sausages and similar products of meat (+3.8% per year) and salted, dried or smoked meat, and offal (+2.3% per year).

In value terms, prepared or preserved meat ($142.6B) led the market, alone. The second position in the ranking was held by sausages and similar products of meat ($38B). It was followed by salted, dried or smoked meat, and offal.

From 2013 to 2024, the average annual growth rate of the value of prepared or preserved meat production amounted to +1.5%. With regard to the other produced products, the following average annual rates of growth were recorded: sausages and similar products of meat (-0.1% per year) and salted, dried or smoked meat, and offal (+2.8% per year).

In 2024, purchases abroad of processed meat increased by 59% to 78K tons, rising for the second consecutive year after two years of decline. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 533% against the previous year. Imports peaked in 2024 and are expected to retain growth in the near future.

In value terms, processed meat imports skyrocketed to $348M in 2024. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 258%. Over the period under review, imports hit record highs in 2024 and are expected to retain growth in the immediate term.

In 2024, the United States (47K tons) constituted the largest processed meat supplier to China, accounting for a 60% share of total imports. Moreover, processed meat imports from the United States exceeded the figures recorded by the second-largest supplier, Mongolia (19K tons), twofold. The third position in this ranking was held by Spain (1.9K tons), with a 2.4% share.

From 2013 to 2024, the average annual rate of growth in terms of volume from the United States stood at +35.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mongolia (+61.5% per year) and Spain (+44.0% per year).

In value terms, the United States ($192M) constituted the largest supplier of processed meat to China, comprising 55% of total imports. The second position in the ranking was held by Mongolia ($71M), with a 20% share of total imports. It was followed by Spain, with a 9.5% share.

From 2013 to 2024, the average annual growth rate of value from the United States totaled +38.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Mongolia (+68.3% per year) and Spain (+28.8% per year).

In 2024, prepared or preserved meat (74K tons) was the main type of processed meat supplied to China, accounting for a 95% share of total imports. It was followed by salted, dried or smoked meat, and offal (1.9K tons), with a 2.5% share of total imports. Pasta stuffed with meat, fish and cheese (1.9K tons) ranked third in terms of total imports with a 2.4% share.

From 2013 to 2024, the average annual growth rate of the volume of prepared or preserved meat imports amounted to +44.6%. With regard to the other supplied products, the following average annual rates of growth were recorded: salted, dried or smoked meat, and offal (+29.3% per year) and pasta stuffed with meat, fish and cheese (+8.5% per year).

In value terms, prepared or preserved meat ($297M) constituted the largest type of processed meat supplied to China, comprising 85% of total imports. The second position in the ranking was taken by salted, dried or smoked meat, and offal ($34M), with a 9.7% share of total imports. It was followed by pasta stuffed with meat, fish and cheese, with a 4% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of prepared or preserved meat imports amounted to +44.2%. With regard to the other supplied products, the following average annual rates of growth were recorded: salted, dried or smoked meat, and offal (+23.5% per year) and pasta stuffed with meat, fish and cheese (+16.1% per year).

In 2024, the average processed meat import price amounted to $4,446 per ton, picking up by 11% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the average import price increased by 53%. As a result, import price attained the peak level of $7,603 per ton. From 2023 to 2024, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was salted, dried or smoked meat, and offal ($17,470 per ton), while the price for prepared or preserved meat ($4,002 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by sausage (+14.6%), while the prices for the other products experienced mixed trend patterns.

In 2024, the average processed meat import price amounted to $4,446 per ton, with an increase of 11% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average import price increased by 53% against the previous year. As a result, import price attained the peak level of $7,603 per ton. From 2023 to 2024, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Spain ($17,404 per ton), while the price for South Korea ($3,635 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+20.2%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, approx. 683K tons of processed meat were exported from China; growing by 16% against 2023 figures. In general, total exports indicated a moderate expansion from 2013 to 2024: its volume increased at an average annual rate of +2.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +50.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 112% against the previous year. The exports peaked in 2024 and are expected to retain growth in years to come.

In value terms, processed meat exports expanded sharply to $2.3B in 2024. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 with an increase of 14%. Over the period under review, the exports hit record highs in 2024 and are likely to see steady growth in the immediate term.

Japan (226K tons) was the main destination for processed meat exports from China, accounting for a 33% share of total exports. Moreover, processed meat exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (110K tons), twofold. The Netherlands (54K tons) ranked third in terms of total exports with a 7.9% share.

From 2013 to 2024, the average annual growth rate of volume to Japan amounted to -2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+0.9% per year) and the Netherlands (+13.8% per year).

In value terms, Japan ($922M) remains the key foreign market for processed meat exports from China, comprising 40% of total exports. The second position in the ranking was held by Hong Kong SAR ($433M), with a 19% share of total exports. It was followed by the Netherlands, with a 7.3% share.

From 2013 to 2024, the average annual growth rate of value to Japan amounted to -3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-0.2% per year) and the Netherlands (+12.8% per year).

Prepared or preserved meat (495K tons) was the largest type of processed meat exported from China, accounting for a 73% share of total exports. Moreover, prepared or preserved meat exceeded the volume of the second product type, pasta stuffed with meat, fish and cheese (135K tons), fourfold. The third position in this ranking was taken by sausages and similar products of meat (51K tons), with a 7.5% share.

From 2013 to 2024, the average annual growth rate of the volume of prepared or preserved meat exports totaled +1.4%. With regard to the other exported products, the following average annual rates of growth were recorded: pasta stuffed with meat, fish and cheese (+4.6% per year) and sausages and similar products of meat (+3.6% per year).

In value terms, prepared or preserved meat ($1.9B) remains the largest type of processed meat exported from China, comprising 81% of total exports. The second position in the ranking was held by pasta stuffed with meat, fish and cheese ($314M), with a 13% share of total exports. It was followed by sausages and similar products of meat, with a 5.4% share.

From 2013 to 2024, the average annual growth rate of the value of prepared or preserved meat exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: pasta stuffed with meat, fish and cheese (+3.9% per year) and sausages and similar products of meat (-3.3% per year).

The average processed meat export price stood at $3,412 per ton in 2024, waning by -5.3% against the previous year. Over the period under review, the export price showed a mild slump. The most prominent rate of growth was recorded in 2016 when the average export price increased by 84% against the previous year. As a result, the export price attained the peak level of $7,489 per ton. From 2017 to 2024, the average export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was salted, dried or smoked meat, and offal ($5,341 per ton), while the average price for exports of pasta stuffed with meat, fish and cheese ($2,325 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: meat, fish or cheese pasta (-0.7%), while the prices for the other products experienced a decline.

In 2024, the average processed meat export price amounted to $3,412 per ton, falling by -5.3% against the previous year. In general, the export price continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2016 when the average export price increased by 84%. As a result, the export price attained the peak level of $7,489 per ton. From 2017 to 2024, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($4,086 per ton), while the average price for exports to Democratic People's Republic of Korea ($1,208 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+0.3%), while the prices for the other major destinations experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the processed meat market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

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The Largest Import Supplying Countries

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The Largest Producers on The Market and Their Profiles