Eastern Asia: Rendered Pig Fat Market 2025

Rendered Pig Fat Market Size in Eastern Asia

In 2021, after two years of decline, there was significant growth in the East Asian rendered pig fat market, when its value increased by 8.4% to $X. Over the period under review, consumption saw a noticeable decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Rendered Pig Fat Production in Eastern Asia

In value terms, rendered pig fat production declined notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 981% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Rendered Pig Fat Exports

Exports in Eastern Asia

In 2021, the amount of lard and other pig fat (rendered) exported in Eastern Asia rose notably to X tons, picking up by 14% against the previous year's figure. Over the period under review, exports, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2020 with an increase of 75%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, rendered pig fat exports rose modestly to $X in 2021. Overall, exports recorded a perceptible expansion. The growth pace was the most rapid in 2020 when exports increased by 168%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

In 2021, Japan (X tons) was the key exporter of lard and other pig fat (rendered), constituting 46% of total exports. Hong Kong SAR (X tons) took a 31% share (based on physical terms) of total exports, which put it in second place, followed by China (12%) and South Korea (8.2%). Taiwan (Chinese) (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +43.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest rendered pig fat supplying countries in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and South Korea ($X), together accounting for 95% of total exports.

South Korea, with a CAGR of +23.4%, saw the highest rates of growth with regard to 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

In 2021, the export price in Eastern Asia amounted to $X per ton, which is down by -8.4% against the previous year. Over the period under review, the export price, however, saw strong growth. The growth pace was the most rapid in 2020 when the export price increased by 53% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.9%), while the other leaders experienced mixed trends in the export price figures.

Rendered Pig Fat Imports

Imports in Eastern Asia

In 2021, supplies from abroad of lard and other pig fat (rendered) decreased by -5.5% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, rendered pig fat imports soared to $X in 2021. Overall, imports showed a noticeable contraction. The growth pace was the most rapid in 2018 when imports increased by 38% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) were the largest importers of lard and other pig fat (rendered) in Eastern Asia, together constituting 66% of total imports. Japan (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by China (9.5%) and South Korea (6.9%). Macao SAR (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +11.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest rendered pig fat importing markets in Eastern Asia were Hong Kong SAR ($X), Taiwan (Chinese) ($X) and Japan ($X), together comprising 85% of total imports. China, South Korea and Macao SAR lagged somewhat behind, together accounting for a further 15%.

Among the main importing countries, South Korea, with a CAGR of +15.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 26% against the previous year. In general, the import price continues to indicate a slight increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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