New Zealand: Animal Fats Market 2024

Animal Fats Market Size in New Zealand

After two years of growth, the New Zealand animal fats market decreased by -5% to $X in 2021. Over the period under review, consumption, however, continues to indicate strong growth. Over the period under review, the market attained the peak level at $X in 2020, and then contracted modestly in the following year.

Animal Fats Production in New Zealand

In value terms, animal fats production dropped to $X in 2021 estimated in export price. Overall, production, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2014 with an increase of 86% against the previous year. Animal fats production peaked at $X in 2020, and then shrank in the following year.

Animal Fats Exports

Exports from New Zealand

In 2021, the amount of animal fats and oils exported from New Zealand soared to X tons, with an increase of 126% against the previous year's figure. In general, exports, however, continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2019 when exports increased by 208%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, animal fats exports surged to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 615% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Australia (X tons) was the main destination for animal fats exports from New Zealand, with a 43% share of total exports. Moreover, animal fats exports to Australia exceeded the volume sent to the second major destination, Singapore (X tons), twofold. China (X tons) ranked third in terms of total exports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+127.3% per year) and China (+52.6% per year).

In value terms, Australia ($X) remains the key foreign market for animal fats and oils exports from New Zealand, comprising 49% of total exports. The second position in the ranking was taken by China ($X), with a 21% share of total exports. It was followed by Singapore, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+28.5% per year) and Singapore (+126.4% per year).

Export Prices by Country

In 2021, the average animal fats export price amounted to $X per ton, shrinking by -5.5% against the previous year. In general, the export price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2019 an increase of 132% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into New Zealand

After two years of decline, purchases abroad of animal fats and oils increased by 103% to X tons in 2021. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 389% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, animal fats imports soared to $X in 2021. Over the period under review, imports showed a measured expansion. The most prominent rate of growth was recorded in 2015 with an increase of 152% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Peru (X tons) constituted the largest animal fats supplier to New Zealand, with a 75% share of total imports. Moreover, animal fats imports from Peru exceeded the figures recorded by the second-largest supplier, Norway (X tons), tenfold. Chile (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from Peru amounted to +39.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+21.9% per year) and Chile (+7.6% per year).

In value terms, the largest animal fats suppliers to New Zealand were Peru ($X), Norway ($X) and China ($X), with a combined 80% share of total imports. These countries were followed by the Netherlands, Australia, Chile and Canada, which together accounted for a further 19%.

The Netherlands, with a CAGR of +69.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average animal fats import price stood at $X per ton in 2021, with a decrease of -41% against the previous year. Overall, the import price recorded a abrupt contraction. The growth pace was the most rapid in 2014 an increase of 92%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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