Asia: Oleo Oils Market 2025

Oleo Oils Market Size in Asia

The Asian oleo oils market totaled $X in 2021, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Oleo Oils Production in Asia

In value terms, oleo oils production reduced slightly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 55%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Oleo Oils Exports

Exports in Asia

In 2021, shipments abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil decreased by -29.4% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 794% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, oleo oils exports declined rapidly to $X in 2021. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 when exports increased by 698%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons), Singapore (X tons) and Taiwan (Chinese) (X tons) represented roughly 68% of total exports in 2021. Japan (X tons) took the next position in the ranking, followed by Malaysia (X tons). All these countries together took approx. 19% share of total exports. The Philippines (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +31.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest oleo oils supplying countries in Asia were Taiwan (Chinese) ($X), South Korea ($X) and Singapore ($X), together accounting for 71% of total exports.

Singapore, with a CAGR of +9.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 5.7% against the previous year. In general, the export price, however, continues to indicate a mild slump. The growth pace was the most rapid in 2017 when the export price increased by 92% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.3%), while the other leaders experienced more modest paces of growth.

Oleo Oils Imports

Imports in Asia

In 2021, purchases abroad of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil increased by 47% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a pronounced slump. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, oleo oils imports surged to $X in 2021. In general, imports, however, recorded a pronounced slump. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by South Korea (X tons), Kuwait (X tons) and Malaysia (X tons) represented the key importers of lard stearin, lard oil, oleostearin, oleo-oil and tallow oil, together achieving 74% of total imports. Macao SAR (X tons), Nepal (X tons), Azerbaijan (X tons), Singapore (X tons), Japan (X tons), China (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Azerbaijan (with a CAGR of +126.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest oleo oils importing markets in Asia were South Korea ($X), Indonesia ($X) and Kuwait ($X), with a combined 62% share of total imports. Malaysia, Japan, Singapore, Macao SAR, Turkey, China, Taiwan (Chinese), Nepal and Azerbaijan lagged somewhat behind, together accounting for a further 29%.

Azerbaijan, with a CAGR of +75.1%, 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 more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 2.1% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 22% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Azerbaijan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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