Asia-Pacific: Vegetable Oils Market 2025

Vegetable Oils Market Size in Asia-Pacific

In 2022, the Asia-Pacific vegetable oils market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vegetable Oils Production in Asia-Pacific

In value terms, vegetable oils production reached $X in 2022 estimated in export price. Overall, production, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vegetable Oils Exports

Exports in Asia-Pacific

In 2022, vegetable oils exports in Asia-Pacific rose rapidly to X tons, picking up by X% against 2021. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, vegetable oils exports rose notably to $X in 2022. In general, exports recorded a noticeable increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Malaysia was the major exporter of vegetable fats and oils in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Indonesia (X tons) and China (X tons), together creating a X% share of total exports. Pakistan (X tons) followed a long way behind the leaders.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of vegetable fats and oils. At the same time, China (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Pakistan (X%) illustrated a downward trend over the same period. While the share of Indonesia (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (X p.p.) and Malaysia (X p.p.) displayed negative dynamics.

In value terms, the largest vegetable oils supplying countries in Asia-Pacific were Malaysia ($X), Indonesia ($X) and China ($X), with a combined X% share of total exports.

Among the main exporting countries, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, remaining stable against the previous year. Export price indicated a modest increase 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, vegetable oils export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the export price figures.

Vegetable Oils Imports

Imports in Asia-Pacific

In 2022, overseas purchases of vegetable fats and oils increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated pronounced growth from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, vegetable oils imports skyrocketed to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China was the largest importer of vegetable fats and oils in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Thailand (X tons), together making up a X% share of total imports. The following importers - Afghanistan (X tons), the Philippines (X tons), Singapore (X tons), South Korea (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Bangladesh (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vegetable oils imports into China stood at X%. At the same time, Malaysia (X%), South Korea (X%), Bangladesh (X%), the Philippines (X%), Vietnam (X%), Singapore (X%) and Japan (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Taiwan (Chinese) (X%), Thailand (X%) and Afghanistan (X%) illustrated a downward trend over the same period. China (X p.p.), Malaysia (X p.p.), Vietnam (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Afghanistan saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vegetable fats and oils in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

In China, vegetable oils imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

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

Source: IndexBox Platform

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