Asia-Pacific: Animal Feed Market 2024

Animal Feed Market Size in Asia-Pacific

The Asia-Pacific animal feed market declined to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Animal Feed Production in Asia-Pacific

In value terms, animal feed production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Animal Feed Exports

Exports in Asia-Pacific

In 2022, after six years of growth, there was decline in shipments abroad of animal and pet feed, when their volume decreased by X% to X tons. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, animal feed exports expanded sharply to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China was the key exporter of animal and pet feed in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Malaysia (X tons), Thailand (X tons), Singapore (X tons), Vietnam (X tons) and India (X tons), together creating a X% share of total exports. Australia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to animal feed exports from China stood at X%. At the same time, Malaysia (X%), Vietnam (X%), Singapore (X%), India (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Australia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Australia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest animal feed supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, 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.

Animal Feed Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of animal and pet feed decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of import peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, animal feed imports reduced to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, South Korea (X tons), distantly followed by Vietnam (X tons), Thailand (X tons), China (X tons), the Philippines (X tons), Japan (X tons), Cambodia (X tons), Lao People's Democratic Republic (X tons) and Indonesia (X tons) were the major importers of animal and pet feed, together making up X% of total imports. Malaysia (X tons), Singapore (X tons), New Zealand (X tons) and Bangladesh (X tons) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of X% from 2012 to 2022. At the same time, Singapore (X%), Lao People's Democratic Republic (X%), China (X%), New Zealand (X%), Vietnam (X%), the Philippines (X%), Thailand (X%) and Cambodia (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Japan (X%), Bangladesh (X%) and Indonesia (X%) illustrated a downward trend over the same period. South Korea (X p.p.), China (X p.p.), Singapore (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Bangladesh, Japan and Indonesia saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Japan ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand, South Korea, the Philippines, Indonesia, Bangladesh, Malaysia, Cambodia, New Zealand, Singapore and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, South Korea, with a CAGR of X%, saw the highest growth rate of 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 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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