South-Eastern Asia: Pig Fat Market 2025

Pig Fat Market Size in South-Eastern Asia

The Southeast Asian pig fat market surged to $X in 2022, rising by 27% against the previous year. In general, consumption recorded a significant increase. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Pig Fat Production in South-Eastern Asia

In value terms, pig fat production stood at $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 50% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pig Fat Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of pig fat were exported in South-Eastern Asia; jumping by 113% compared with the previous year's figure. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 612%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, pig fat exports soared to $X in 2022. Overall, exports recorded significant growth. The growth pace was the most rapid in 2019 with an increase of 558%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Singapore represented the main exporting country with an export of around X tons, which resulted at 42% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 26% share, followed by Malaysia (20%) and Lao People's Democratic Republic (12%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Lao People's Democratic Republic (with a CAGR of +121.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pig fat supplying countries in South-Eastern Asia were Lao People's Democratic Republic ($X), Singapore ($X) and Vietnam ($X), together comprising 92% of total exports.

Lao People's Democratic Republic, with a CAGR of +121.9%, recorded 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

The export price in South-Eastern Asia stood at $X per ton in 2022, waning by -35.1% against the previous year. Overall, the export price, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2014 an increase of 308%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%), while the other leaders experienced a decline in the export price figures.

Pig Fat Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of pig fat increased by 24% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 1,148%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, pig fat imports skyrocketed to $X in 2022. In general, imports enjoyed a significant increase. The growth pace was the most rapid in 2017 when imports increased by 1,212%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The Philippines represented the main importing country with an import of about X tons, which finished at 76% of total imports. It was distantly followed by Vietnam (X tons), making up a 17% share of total imports. Singapore (X tons), Thailand (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pig fat imports into the Philippines stood at +3.3%. At the same time, Thailand (+52.2%), Vietnam (+50.4%), Malaysia (+21.1%) and Singapore (+10.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +52.2% from 2012-2022. The Philippines (+76 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -11.7% and -66.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported pig fat in South-Eastern Asia, comprising 75% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by Singapore, with a 4.4% share.

In the Philippines, pig fat imports expanded at an average annual rate of +9.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+56.6% per year) and Singapore (+11.1% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 3.5% against the previous year. Overall, the import price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2019 when the import price increased by 19% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($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 (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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