Asia-Pacific: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Asia-Pacific

In 2022, the Asia-Pacific rendered pig fat market increased by X% to $X, rising for the fifth consecutive year after two years of decline. In general, consumption posted a significant expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Rendered Pig Fat Production in Asia-Pacific

In value terms, rendered pig fat production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production saw a significant expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Rendered Pig Fat Exports

Exports in Asia-Pacific

In 2022, approx. X tons of lard and other pig fat (rendered) were exported in Asia-Pacific; with a decrease of X% compared with 2021. In general, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, rendered pig fat exports fell remarkably to $X in 2022. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

In 2022, South Korea (X tons) was the main exporter of lard and other pig fat (rendered), constituting X% of total exports. Hong Kong SAR (X tons) ranks second in terms of the total exports with a X% share, followed by Taiwan (Chinese) (X%) and Japan (X%). China (X tons) followed a long way behind the leaders.

South Korea was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of X% from 2012 to 2022. China experienced a relatively flat trend pattern. Taiwan (Chinese) (X%), Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rendered pig fat supplying countries in Asia-Pacific were South Korea ($X), Hong Kong SAR ($X) and Japan ($X), with a combined X% share of total exports.

Among the main exporting countries, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, showed a moderate increase. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2021, and then declined significantly in the following year.

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 Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Rendered Pig Fat Imports

Imports in Asia-Pacific

In 2022, overseas purchases of lard and other pig fat (rendered) decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, imports faced a precipitous curtailment. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, rendered pig fat imports contracted significantly to $X in 2022. Over the period under review, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2021, and then declined markedly in the following year.

Imports by Country

Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) represented the main importers of lard and other pig fat (rendered) in 2022, amounting to near X% and X% of total imports, respectively. It was distantly followed by New Zealand (X tons) and Japan (X tons), together making up a X% share of total imports. The following importers - Australia (X tons) and Macao SAR (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rendered pig fat importing markets in Asia-Pacific were Hong Kong SAR ($X), Taiwan (Chinese) ($X) and New Zealand ($X), together comprising X% of total imports.

Among the main importing countries, New Zealand, 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 2022, jumping by X% against the previous year. In general, the import price recorded a resilient increase. As a result, import price reached the peak level and is likely to continue 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 Australia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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