Southern Asia: Animal Feed Market 2024

Animal Feed Market Size in Southern Asia

The South Asian animal feed market contracted modestly to $X in 2022, reducing by -4.6% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Animal Feed Production in Southern Asia

In value terms, animal feed production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 20% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Animal Feed Exports

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in overseas shipments of animal and pet feed, which increased by 1.9% to X tons in 2022. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.5% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 29% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, animal feed exports expanded sharply to $X in 2022. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 26%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, India (X tons) represented the major exporter of animal and pet feed, constituting 66% of total exports. Sri Lanka (X tons) took the second position in the ranking, distantly followed by Pakistan (X tons). All these countries together held approx. 33% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to animal feed exports from India stood at +5.1%. At the same time, Sri Lanka (+6.7%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +6.7% from 2012-2022. By contrast, Pakistan (-4.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Sri Lanka increased by +5.6 and +5.2 percentage points, respectively.

In value terms, India ($X) remains the largest animal feed supplier in Southern Asia, comprising 69% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +7.8%. In the other countries, the average annual rates were as follows: Sri Lanka (+9.9% per year) and Pakistan (-12.0% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, rising by 3.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth appeared the most rapid in 2019 an increase of 21% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Animal Feed Imports

Imports in Southern Asia

In 2022, supplies from abroad of animal and pet feed decreased by -12.5% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by 56%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, animal feed imports declined to $X in 2022. In general, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Bangladesh (X tons) and India (X tons) represented the main importers of animal and pet feed in Southern Asia, together comprising 64% of total imports. Pakistan (X tons) took the next position in the ranking, distantly followed by Sri Lanka (X tons) and Nepal (X tons). All these countries together took approx. 32% share of total imports. Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2022, with a combined 89% share of total imports.

Pakistan, with a CAGR of +11.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of 2.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth appeared the most rapid in 2014 an increase of 46%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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