Eastern Asia: Animal Feed Market 2024

Animal Feed Market Size in Eastern Asia

The East Asian animal feed market declined modestly to $X in 2022, dropping by X% against the previous year. The total consumption indicated buoyant growth 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, consumption increased by X% against 2020 indices. 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 Eastern Asia

In value terms, animal feed production contracted slightly to $X in 2022 estimated in export price. The total production indicated a strong 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, production increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Animal Feed Exports

Exports in Eastern Asia

In 2022, animal feed exports in Eastern Asia expanded rapidly to X tons, with an increase of X% compared with the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, animal feed exports surged to $X in 2022. Total exports indicated buoyant growth 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 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Taiwan (Chinese) (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). Japan (X tons) held a little share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Japan (X%), Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia 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 most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Animal Feed Imports

Imports in Eastern Asia

In 2022, supplies from abroad of animal and pet feed decreased by X% to X tons for the first time since 2011, thus ending a ten-year rising trend. Total imports indicated a remarkable increase 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, imports increased by X% against 2012 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted modestly in the following year.

In value terms, animal feed imports reduced modestly to $X in 2022. Total imports indicated a buoyant 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 2013 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

South Korea represented the key importer of animal and pet feed in Eastern Asia, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. China (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%) and Taiwan (Chinese) (X%). Hong Kong SAR (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, China (X%), Hong Kong SAR (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and China increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Among the main importing countries, South Korea, 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 Eastern Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, showed a slight decline. The pace of growth was the most pronounced in 2021 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 remained at a lower figure.

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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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