ASEAN: Animal Feed Market 2024

Animal Feed Market Size in ASEAN

The ASEAN animal feed market declined slightly to $X in 2022, with a decrease of -3.1% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +10.8% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Animal Feed Production in ASEAN

In value terms, animal feed production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 20%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Animal Feed Exports

Exports in ASEAN

In 2022, shipments abroad of animal and pet feed increased by 2.9% to X tons, rising for the fourth year in a row after two years of decline. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% 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 +62.5% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, animal feed exports amounted to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +90.9% against 2012 indices. The growth pace was the most rapid in 2020 with an increase of 22%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The biggest shipments were from Malaysia (X tons), Thailand (X tons), Vietnam (X tons) and Singapore (X tons), together reaching 90% of total export. It was distantly followed by Indonesia (X tons), constituting an 8.3% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Indonesia (with a CAGR of +14.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Singapore ($X), together accounting for 73% of total exports. Malaysia and Indonesia lagged somewhat behind, together accounting for a further 26%.

Among the main exporting countries, Indonesia, with a CAGR of +15.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, which is down by -2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 11% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.7%), while the other leaders experienced more modest paces of growth.

Animal Feed Imports

Imports in ASEAN

Animal feed imports dropped to X tons in 2022, waning by -6.7% on the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 27%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, animal feed imports contracted slightly to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 14%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted slightly in the following year.

Imports by Country

In 2022, Vietnam (X tons), distantly followed by Thailand (X tons), the Philippines (X tons), Lao People's Democratic Republic (X tons), Indonesia (X tons), Malaysia (X tons), Singapore (X tons) and Cambodia (X tons) represented the major importers of animal and pet feed, together mixing up 95% of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed importing markets in ASEAN were Vietnam ($X), Thailand ($X) and the Philippines ($X), with a combined 61% share of total imports. Indonesia, Malaysia, Singapore, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 35%.

Singapore, with a CAGR of +7.1%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, growing by 6.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2018 when the import price increased by 14%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform