Eastern Asia: Rendered Pig Fat Market 2022

Rendered Pig Fat Market Size in Eastern Asia

In 2021, the East Asian rendered pig fat market decreased by -X% to $X, falling for the second year in a row after four years of growth. Overall, consumption showed a pronounced decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Rendered Pig Fat Production in Eastern Asia

In value terms, rendered pig fat production declined rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded strong growth. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2020, and then dropped remarkably in the following year.

Production By Country in Eastern Asia

The country with the largest volume of rendered pig fat production was Japan (X tons), comprising approx. X% of total volume. Moreover, rendered pig fat production in Japan exceeded the figures recorded by the second-largest producer, Hong Kong SAR (X tons), threefold.

In Japan, rendered pig fat production expanded at an average annual rate of +X% over the period from 2012-2021.

Rendered Pig Fat Exports

Exports in Eastern Asia

In 2021, after three years of growth, there was decline in shipments abroad of lard and other pig fat (rendered), when their volume decreased by -X% to X tons. In general, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, rendered pig fat exports amounted to $X in 2021. Over the period under review, exports, however, showed a moderate expansion. 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 attained the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Japan was the largest exporter of lard and other pig fat (rendered) in Eastern Asia, with the volume of exports reaching X tons, which was near X% of total exports in 2021. It was distantly followed by Hong Kong SAR (X tons) and China (X tons), together constituting a X% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +X%), while the other leaders experienced mixed trends in the exports figures.

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

In terms of the main exporting countries, China, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by X% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rendered pig fat export price increased by +X% against 2019 indices. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by the country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+X%), while the other leaders experienced a decline in the export price figures.

Rendered Pig Fat Imports

Imports in Eastern Asia

In 2021, the amount of lard and other pig fat (rendered) imported in Eastern Asia expanded significantly to X tons, growing by X% against the previous year's figure. Over the period under review, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, rendered pig fat imports soared to $X in 2021. Overall, imports, however, showed a perceptible decline. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of lard and other pig fat (rendered), namely Hong Kong SAR, China and Taiwan (Chinese), represented more than two-thirds of total import. It was distantly followed by Japan (X tons), comprising a X% share of total imports. Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Macao SAR (with a CAGR of +X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest rendered pig fat importing markets in Eastern Asia were Hong Kong SAR ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined X% share of total imports. China and Macao SAR lagged somewhat behind, together comprising a further X terms of the main importing countries, Macao SAR, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained 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 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Macao SAR (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform