Southern Asia: Animal Fats Market 2024

Animal Fats Market Size in Southern Asia

The South Asian animal fats market contracted to $X in 2023, approximately equating the previous year. The total consumption indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Animal Fats Production in Southern Asia

In value terms, animal fats production shrank to $X in 2023 estimated in export price. The total production indicated a strong expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

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Animal Fats Exports

Exports in Southern Asia

For the fourth year in a row, Southern Asia recorded decline in shipments abroad of animal fats and oils, which decreased by X% to X tons in 2023. Over the period under review, exports recorded a sharp slump. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2023, the growth of the exports remained at a lower figure.

In value terms, animal fats exports reduced to $X in 2023. In general, exports saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Sri Lanka represented the key exporter of animal fats and oils in Southern Asia, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. Nepal (X tons) held the second position in the ranking, followed by Pakistan (X tons). All these countries together held approx. X% share of total exports.

Sri Lanka was also the fastest-growing in terms of the animal fats and oils exports, with a CAGR of X% from 2012 to 2023. At the same time, Nepal (X%) displayed positive paces of growth. By contrast, Pakistan (X%) illustrated a downward trend over the same period. While the share of Sri Lanka (X p.p.) and Nepal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Pakistan (X p.p.) displayed negative dynamics.

In value terms, Sri Lanka ($X) remains the largest animal fats supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Pakistan ($X), with a X% share of total exports.

In Sri Lanka, animal fats exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and Nepal (X% per year).

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then contracted in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sri Lanka (X%), while the other leaders experienced more modest paces of growth.

Animal Fats Imports

Imports in Southern Asia

In 2023, supplies from abroad of animal fats and oils decreased by X% to X tons, falling for the third consecutive year after three years of growth. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, animal fats imports fell remarkably to $X in 2023. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Pakistan was the largest importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Bangladesh (X tons), creating a X% share of total imports. The following importers - Afghanistan (X tons) and India (X tons) - together made up X% of total imports.

Pakistan was also the fastest-growing in terms of the animal fats and oils imports, with a CAGR of X% from 2012 to 2023. At the same time, Bangladesh (X%) and India (X%) displayed positive paces of growth. Afghanistan experienced a relatively flat trend pattern. Pakistan (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while India and Afghanistan saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Pakistan ($X) constitutes the largest market for imported animal fats and oils in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Afghanistan, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Pakistan amounted to X%. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Afghanistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price saw a deep reduction. The pace of growth appeared the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform