Eastern Asia: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Eastern Asia

The East Asian rendered pig fat market surged to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption recorded resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Rendered Pig Fat Production in Eastern Asia

In value terms, rendered pig fat production surged to $X in 2022 estimated in export price. Overall, production showed a noticeable slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Rendered Pig Fat Exports

Exports in Eastern Asia

In 2022, rendered pig fat exports in Eastern Asia shrank remarkably to X tons, which is down by X% compared with 2021 figures. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, rendered pig fat exports reduced dramatically to $X in 2022. In general, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of export peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

In 2022, South Korea (X tons) was the key exporter of lard and other pig fat (rendered), achieving X% of total exports. Hong Kong SAR (X tons) held the second position in the ranking, distantly followed by Taiwan (Chinese) (X tons) and Japan (X tons). All these countries together held approx. X% share of total exports. China (X tons) took a little share of total exports.

South Korea was also the fastest-growing in terms of the lard and other pig fat (rendered) exports, with a CAGR of X% from 2012 to 2022. China experienced a relatively flat trend pattern. Taiwan (Chinese) (X%), Japan (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then declined remarkably in the following year.

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

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

Rendered Pig Fat Imports

Imports in Eastern Asia

In 2022, overseas purchases of lard and other pig fat (rendered) decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports showed a drastic downturn. The growth pace was the most rapid in 2019 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, rendered pig fat imports expanded sharply to $X in 2022. Overall, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) represented the main importers of lard and other pig fat (rendered) in 2022, resulting at near X% and X% of total imports, respectively. It was distantly followed by Japan (X tons), comprising an X% share of total imports. Macao SAR (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports 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.

Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated buoyant growth 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 import price increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) and Macao SAR ($X per ton) were amongst the lowest.

From 2012 to 2022, 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

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