Asia-Pacific: Animal Feed Market 2024

Animal Feed Market Size in Asia-Pacific

The Asia-Pacific animal feed market shrank slightly to $X in 2022, dropping by -2.6% against the previous year. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Animal Feed Production in Asia-Pacific

In value terms, animal feed production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% 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 appeared the most rapid in 2016 when the production volume increased by 16%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Animal Feed Exports

Exports in Asia-Pacific

In 2022, after two years of growth, there was decline in overseas shipments of animal and pet feed, when their volume decreased by less than 0.1% to X tons. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +47.2% against 2012 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 12%. The volume of export peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, animal feed exports stood at $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value 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 +74.8% against 2012 indices. The growth pace was the most rapid in 2021 with an increase of 14%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, China (X tons) was the main exporter of animal and pet feed, making up 42% of total exports. It was distantly followed by Malaysia (X tons), Thailand (X tons), Vietnam (X tons), Singapore (X tons) and India (X tons), together committing a 41% share of total exports. Australia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to animal feed exports from China stood at +3.5%. At the same time, Malaysia (+10.2%), Singapore (+5.9%), India (+5.1%), Vietnam (+4.5%) and Thailand (+1.2%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +10.2% from 2012-2022. By contrast, Australia (-2.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia increased by +5.2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest animal feed supplier in Asia-Pacific, comprising 44% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.2% share of total exports. It was followed by Vietnam, with an 8.9% share.

In China, animal feed exports increased at an average annual rate of +5.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+3.7% per year) and Vietnam (+10.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 9.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Australia ($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 Asia-Pacific

After two years of growth, overseas purchases of animal and pet feed decreased by -4.8% to X tons in 2022. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 17%. The volume of import peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, animal feed imports stood at $X in 2022. Total imports indicated a tangible 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, imports increased by +47.6% against 2013 indices. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, South Korea (X tons), followed by Vietnam (X tons), Thailand (X tons), China (X tons), the Philippines (X tons), Japan (X tons) and Lao People's Democratic Republic (X tons) represented the key importers of animal and pet feed, together mixing up 60% of total imports. The following importers - Indonesia (X tons), Malaysia (X tons), Singapore (X tons), New Zealand (X tons), Bangladesh (X tons) and India (X tons) - together made up 22% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +17.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed importing markets in Asia-Pacific were Vietnam ($X), Japan ($X) and China ($X), with a combined 31% share of total imports. India, Thailand, South Korea, the Philippines, Indonesia, Bangladesh, Malaysia, New Zealand, Singapore and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 51%.

South Korea, with a CAGR of +8.2%, recorded the highest rates of growth with regard to the value of imports, in terms of 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-Pacific stood at $X per ton in 2022, with an increase of 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2014 an increase of 11%. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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