Canada: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Canada

In 2022, the Canadian rendered pig fat market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a dramatic contraction. Rendered pig fat consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Rendered Pig Fat Production in Canada

In value terms, rendered pig fat production stood at $X in 2022 estimated in export price. In general, production, however, saw a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Rendered pig fat production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Rendered Pig Fat Exports

Exports from Canada

In 2022, overseas shipments of lard and other pig fat (rendered) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, rendered pig fat exports soared to $X in 2022. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons) was the main destination for rendered pig fat exports from Canada, accounting for a X% share of total exports. It was followed by Mexico (X tons), with a X% share of total exports. The third position in this ranking was held by New Zealand (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and New Zealand (X% per year).

In value terms, the United States ($X) remains the key foreign market for lard and other pig fat (rendered) exports from Canada, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and New Zealand (X% per year).

Export Prices by Country

The average rendered pig fat export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price 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, rendered pig fat export price increased by X% against 2018 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced a decline.

Rendered Pig Fat Imports

Imports into Canada

In 2022, approx. X tons of lard and other pig fat (rendered) were imported into Canada; surging by X% against the previous year's figure. Overall, imports enjoyed pronounced growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, rendered pig fat imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a notable increase. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the main supplier of rendered pig fat to Canada, accounting for a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at X%.

In value terms, the United States ($X) constituted the largest supplier of lard and other pig fat (rendered) to Canada.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%.

Import Prices by Country

In 2022, the average rendered pig fat import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Australia amounted to X% per year.

Source: IndexBox Platform

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