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Report Eastern Asia - Animal Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

Eastern Asia - Animal Fats and Oils - Market Analysis, Forecast, Size, Trends and Insights

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Eastern Asia: Animal Fats Market 2024

Animal Fats Market Size in Eastern Asia

The East Asian animal fats market fell remarkably to $X in 2021, reducing by -17.3% against the previous year. In general, consumption, however, showed resilient growth. As a result, consumption reached the peak level of $X, and then fell markedly in the following year.

Animal Fats Production in Eastern Asia

In value terms, animal fats production fell to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Animal Fats Exports

Exports in Eastern Asia

In 2021, overseas shipments of animal fats and oils increased by 107% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 944% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, animal fats exports skyrocketed to $X in 2021. In general, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 497% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, recording X tons, which was near 96% of total exports in 2021. South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the animal fats and oils exports, with a CAGR of +335.0% from 2012 to 2021. At the same time, South Korea (+23.1%) displayed positive paces of growth. While the share of China (+96 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-50.3 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest animal fats supplier in Eastern Asia, comprising 82% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3.4% share of total exports.

In China, animal fats exports expanded at an average annual rate of +237.0% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, waning by -21.9% against the previous year. In general, the export price showed a dramatic decline. The most prominent rate of growth was recorded in 2016 when the export price increased by 227% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-22.5%).

Animal Fats Imports

Imports in Eastern Asia

In 2021, overseas purchases of animal fats and oils increased by 66% to X tons, rising for the second consecutive year after two years of decline. In general, imports enjoyed a strong expansion. The growth pace was the most rapid in 2016 with an increase of 108% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, animal fats imports soared to $X in 2021. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 86%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons) and Japan (X tons) represented roughly 81% of total imports in 2021. Taiwan (Chinese) (X tons) ranks next in terms of the total imports with a 10% share, followed by China (8.5%).

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +45.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +41.1%, 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

In 2021, the import price in Eastern Asia amounted to $X per ton, dropping by -18.3% against the previous year. In general, the import price, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of 107%. The level of import peaked at $X per ton in 2020, and then shrank rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($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 (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China remains the largest animal fats consuming country in Eastern Asia, comprising approx. 71% of total volume. Moreover, animal fats consumption in China exceeded the figures recorded by the second-largest consumer, Japan, fourfold. South Korea ranked third in terms of total consumption with a 7.4% share.
The country with the largest volume of animal fats production was China, comprising approx. 72% of total volume. Moreover, animal fats production in China exceeded the figures recorded by the second-largest producer, Japan, fourfold. South Korea ranked third in terms of total production with a 7.3% share.
In value terms, China remains the largest animal fats supplier in Eastern Asia, comprising 76% of total exports. The second position in the ranking was occupied by Japan, with a 20% share of total exports.
In value terms, the largest animal fats importing markets in Eastern Asia were Japan, South Korea and China, together comprising 99% of total imports. Hong Kong SAR lagged somewhat behind, comprising a further 0.6%.
The animal fats export price in Eastern Asia stood at $1,289 per ton in 2020, which is down by -83.7% against the previous year.
In 2020, the animal fats import price in Eastern Asia amounted to $6,397 per ton, increasing by 44% against the previous year.

This report provides an in-depth analysis of the animal fats market in Eastern Asia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 10416030 - Animal fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Eastern Asia, split by region and country
  • Trade (exports and imports) in Eastern Asia
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • China
    • Hong Kong SAR
    • Macao SAR
    • Japan
    • South Korea
    • Taiwan (Chinese)
    • Democratic People's Republic of Korea

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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