Global Rendered Pig Fat Market 2023

Rendered Pig Fat Market Size

In 2021, the global rendered pig fat market increased by 46% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Rendered Pig Fat Production

In value terms, rendered pig fat production surged to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Rendered Pig Fat Exports

Exports

In 2021, approx. X tons of lard and other pig fat (rendered) were exported worldwide; surging by 4.6% compared with 2020 figures. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.9% against 2014 indices. The pace of growth appeared the most rapid in 2018 with an increase of 20% against the previous year. The global exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, rendered pig fat exports soared to $X in 2021. Over the period under review, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States prevails in exports structure, finishing at X tons, which was near 52% of total exports in 2021. France (X tons) held the second position in the ranking, followed by Germany (X tons), Belgium (X tons) and Italy (X tons). All these countries together took approx. 27% share of total exports. The following exporters - Canada (X tons), Sweden (X tons), Denmark (X tons), Spain (X tons), the Netherlands (X tons) and Poland (X tons) - together made up 16% of total exports.

From 2012 to 2021, average annual rates of growth with regard to rendered pig fat exports from the United States stood at +14.6%. At the same time, Italy (+16.8%), Poland (+9.3%), Canada (+6.6%), France (+3.3%), Sweden (+2.8%) and Spain (+1.9%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.8% from 2012-2021. Germany and Denmark experienced a relatively flat trend pattern. By contrast, Belgium (-2.6%) and the Netherlands (-18.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States and Italy increased by +29 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest rendered pig fat supplier worldwide, comprising 51% of global exports. The second position in the ranking was taken by France ($X), with a 9.5% share of global exports. It was followed by Germany, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States stood at +17.0%. The remaining exporting countries recorded the following average annual rates of exports growth: France (+5.7% per year) and Germany (+1.6% per year).

Export Prices by Country

In 2021, the average rendered pig fat export price amounted to $X per ton, rising by 52% against the previous year. In general, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. 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 +55.2% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Spain ($X per ton) and Poland ($X per ton), while Canada ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.1%), while the other global leaders experienced more modest paces of growth.

Rendered Pig Fat Imports

Imports

In 2021, global rendered pig fat imports amounted to X tons, leveling off at the year before. In general, imports enjoyed temperate growth. The most prominent rate of growth was recorded in 2020 when imports increased by 32% against the previous year. Global imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, rendered pig fat imports surged to $X in 2021. Over the period under review, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) represented the key importer of lard and other pig fat (rendered), mixing up 47% of total imports. It was distantly followed by Spain (X tons), the United States (X tons), the Netherlands (X tons), France (X tons) and Belgium (X tons), together creating a 30% share of total imports. The following importers - Slovakia (X tons), Poland (X tons), the UK (X tons), Germany (X tons) and Italy (X tons) - together made up 14% of total imports.

Singapore was also the fastest-growing in terms of the lard and other pig fat (rendered) imports, with a CAGR of +47.6% from 2012 to 2021. At the same time, France (+15.4%), Slovakia (+8.1%), Poland (+8.0%), Spain (+6.4%), the United States (+6.2%) and Belgium (+4.8%) displayed positive paces of growth. The UK experienced a relatively flat trend pattern. By contrast, Germany (-1.9%), Italy (-6.5%) and the Netherlands (-12.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore, France and Spain increased by +45, +2.7 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported lard and other pig fat (rendered) worldwide, comprising 45% of global imports. The second position in the ranking was taken by Spain ($X), with an 11% share of global imports. It was followed by the United States, with a 5.4% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to +76.8%. The remaining importing countries recorded the following average annual rates of imports growth: Spain (+8.1% per year) and the United States (+6.6% per year).

Import Prices by Country

The average rendered pig fat import price stood at $X per ton in 2021, with an increase of 50% against the previous year. In general, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.3% 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 import price increased by +58.0% against 2019 indices. As a result, import price reached 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 the UK ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+19.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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