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There are also some differences in the production scale of pig raising and pork industry in 10 Southeast Asian countries. According to CRI's analysis, Myanmar, Vietnam and the Philippines have more developed pig raising industries, with more than 10 million pigs on hand in 2019, of which Myanmar is the largest pig raising industry among the 10 Southeast Asian countries, with 21.604 million pigs on hand in 2019. Indonesia, Thailand, Laos and Cambodia also have a relatively sizable pig raising industry, while Brunei and Singapore have a small or almost non-existent pig raising industry.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels also vary greatly from country to country, with Brunei, which has the smallest population, having a total population of less than 500,000 people in 2021, and Indonesia, which has the largest population, having a population of about 275 million people in 2021. The most economically advanced countries in Southeast Asia do not have a legal minimum wage, with the actual minimum wage exceeding US$400 per month (for foreign maids), while the lowest minimum wage level in Myanmar is only about US$93 per month.
Vietnam is the leading pork producer among 10 Southeast Asian countries. In 2019, Vietnam produced 3.329 million tons of pork, accounting for 41.5% of the total pork production in Southeast Asia in that year. Pork production in the Philippines, Myanmar and Thailand also has a certain scale.
Overall, the market size of the pig raising and pork industry in Southeast Asian countries has fluctuated slightly in recent years, but CRI expects the demand for pork to grow steadily as the countries' populations increase and their economies grow.
According to CRI, the Southeast Asian pig raising and pork industry is forecast to maintain growth from 2023-2032. On the one hand, the expansion of pig raising and pork industry in Southeast Asian countries and low labor costs have prompted global pork processors to shift production capacity to these regions. On the other hand, economic growth in Southeast Asia and increase in population income have led to growth in market demand for pork.
Topics covered:
- Southeast Asia Pig Raising and Pork Industry Status and Major Sources in 2018-2022
- What is the Impact of COVID-19 on Southeast Asia Pig Raising and Pork Industry?
- Which Companies are the Major Players in Southeast Asia Pig Raising and Pork Industry Market and What are their Competitive Benchmarks?
- Key Drivers and Market Opportunities in Southeast Asia Pig Raising and Pork Industry
- What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Pig Raising and Pork Industry during 2023-2032?
- What is the Expected Revenue of Southeast Asia Pig Raising and Pork Industry during 2023-2032?
- What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
- What are the Competitive Advantages of the Major Players in Southeast Asia Pig Raising and Pork Industry Market?
- Which Segment of Southeast Asia Pig Raising and Pork Industry is Expected to Dominate the Market in 2032?
- What are the Major Adverse Factors Facing Southeast Asia Pig Raising and Pork Industry?