Asia-Pacific: Pig Fat Market 2024

Pig Fat Market Size in Asia-Pacific

The Asia-Pacific pig fat market contracted notably to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, enjoyed a remarkable increase. The level of consumption peaked at $X in 2021, and then fell dramatically in the following year.

Pig Fat Production in Asia-Pacific

In value terms, pig fat production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight increase. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Pig Fat Exports

Exports in Asia-Pacific

After two years of growth, shipments abroad of pig fat decreased by X% to X tons in 2022. In general, exports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, pig fat exports dropped to $X in 2022. Over the period under review, exports, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Australia (X tons) represented the main exporter of pig fat, generating X% of total exports. It was distantly followed by Hong Kong SAR (X tons), Singapore (X tons), Vietnam (X tons) and China (X tons), together constituting a X% share of total exports. The following exporters - Malaysia (X tons) and Lao People's Democratic Republic (X tons) - each resulted at an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to pig fat exports from Australia stood at X%. At the same time, Lao People's Democratic Republic (X%), Singapore (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Vietnam and China experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. Australia (X p.p.), Singapore (X p.p.), Vietnam (X p.p.), Malaysia (X p.p.) and Lao People's Democratic Republic (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, Australia ($X), Lao People's Democratic Republic ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Lao People's Democratic Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Malaysia ($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.

Pig Fat Imports

Imports in Asia-Pacific

In 2022, pig fat imports in Asia-Pacific shrank dramatically to X tons, waning by X% against the year before. In general, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, pig fat imports reduced remarkably to $X in 2022. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped sharply in the following year.

Imports by Country

The Philippines represented the largest importer of pig fat in Asia-Pacific, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Japan (X tons), South Korea (X tons), Vietnam (X tons) and China (X tons), together achieving a X% share of total imports. Singapore (X tons) took a relatively small share of total imports.

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

In value terms, the Philippines ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Vietnam, China and Singapore lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Vietnam, 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, declining by X% against the previous year. In general, the import price saw a slight decrease. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform