Asia: Animal Feed Market 2024

Animal Feed Market Size in Asia

The Asian animal feed market reduced to $X in 2022, declining by -2.3% against the previous year. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 Asia

In value terms, animal feed production reduced modestly to $X in 2022 estimated in export price. The total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.4% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Animal Feed Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in shipments abroad of animal and pet feed, which increased by 12% to X tons in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +83.3% against 2015 indices. The pace of growth was the most pronounced in 2017 with an increase of 17% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, animal feed exports rose rapidly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +97.3% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, China (X tons), distantly followed by Turkey (X tons), Malaysia (X tons), Thailand (X tons), Vietnam (X tons) and Singapore (X tons) represented the key exporters of animal and pet feed, together achieving 77% of total exports. India (X tons), Indonesia (X tons), Saudi Arabia (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons), South Korea (X tons) and the United Arab Emirates (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kazakhstan (with a CAGR of +72.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest animal feed supplier in Asia, comprising 38% of total exports. The second position in the ranking was held by Turkey ($X), with an 8.6% share of total exports. It was followed by Thailand, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +5.9%. In the other countries, the average annual rates were as follows: Turkey (+13.5% per year) and Thailand (+3.7% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by 2.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 9%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+7.3%), while the other leaders experienced more modest paces of growth.

Animal Feed Imports

Imports in Asia

In 2022, supplies from abroad of animal and pet feed decreased by -4.1% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. The volume of import peaked at X tons in 2021, and then dropped slightly in the following year.

In value terms, animal feed imports stood at $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.7% against 2013 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 13%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, South Korea (X tons), followed by Vietnam (X tons), Thailand (X tons), China (X tons) and Iraq (X tons) represented the main importers of animal and pet feed, together committing 40% of total imports. The Philippines (X tons), Japan (X tons), Lao People's Democratic Republic (X tons), Indonesia (X tons), Palestine (X tons), Syrian Arab Republic (X tons), Malaysia (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Syrian Arab Republic (with a CAGR of +49.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed importing markets in Asia were Vietnam ($X), Japan ($X) and China ($X), together accounting for 26% of total imports. Thailand, South Korea, the Philippines, Palestine, Indonesia, Malaysia, Iraq, Singapore, Syrian Arab Republic and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 38%.

In terms of the main importing countries, Syrian Arab Republic, with a CAGR of +33.0%, saw the highest rates of growth with regard to the value of imports, 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 Asia amounted to $X per ton, with an increase of 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2014 when the import price increased by 12% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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