Australia: Animal Feed Market 2024

Animal Feed Market Size in Australia

The Australian animal feed market expanded remarkably to $X in 2022, with an increase of 13% against the previous year. Overall, consumption, however, recorded a noticeable shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Animal Feed Production in Australia

In value terms, animal feed production expanded markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51% against the previous year. Animal feed production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Animal Feed Exports

Exports from Australia

After two years of growth, shipments abroad of animal and pet feed decreased by -51% to X tons in 2022. In general, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 46%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell rapidly in the following year.

In value terms, animal feed exports fell sharply to $X in 2022. Overall, exports recorded a perceptible setback. The most prominent rate of growth was recorded in 2018 when exports increased by 20% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for animal feed exports from Australia, with a 60% share of total exports. Moreover, animal feed exports to South Korea exceeded the volume sent to the second major destination, New Zealand (X tons), twofold. The third position in this ranking was taken by Papua New Guinea (X tons), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea amounted to +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-8.6% per year) and Papua New Guinea (-21.2% per year).

In value terms, South Korea ($X) emerged as the key foreign market for animal and pet feed exports from Australia, comprising 41% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 20% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to South Korea stood at +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (-11.5% per year) and Japan (+7.4% per year).

Export Prices by Country

In 2022, the average animal feed export price amounted to $X per ton, with an increase of 36% against the previous year. Over the period under review, the export price, however, saw a perceptible decrease. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Animal Feed Imports

Imports into Australia

In 2022, approx. X tons of animal and pet feed were imported into Australia; increasing by 2.4% against 2021 figures. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 37%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, animal feed imports surged to $X in 2022. In general, imports showed buoyant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 31%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), the United States (X tons) and Brazil (X tons) were the main suppliers of animal feed imports to Australia, with a combined 43% share of total imports. Vietnam, Malaysia, the UK, the Netherlands, Indonesia, Singapore, Solomon Islands, Chile, Spain and Mauritius lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Mauritius (with a CAGR of +109.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Brazil ($X) constituted the largest animal feed suppliers to Australia, together comprising 38% of total imports. The UK, Singapore, the Netherlands, Vietnam, Indonesia, Malaysia, Chile, Spain, Mauritius and Solomon Islands lagged somewhat behind, together comprising a further 30%.

In terms of the main suppliers, Mauritius, with a CAGR of +222.7%, recorded 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

The average animal feed import price stood at $X per ton in 2022, jumping by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+53.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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