Report Update Jan 1, 2025

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

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Thailand: Animal Fats Market 2025

Animal Fats Market Size in Thailand

After two years of growth, the Thai animal fats market decreased by -31% to $X in 2021. Overall, consumption, however, recorded a prominent increase. As a result, consumption reached the peak level of $X, and then declined remarkably in the following year.

Animal Fats Production in Thailand

In value terms, animal fats production shrank dramatically to $X in 2021 estimated in export price. Overall, production, however, recorded buoyant growth. The growth pace was the most rapid in 2020 when the production volume increased by 203%. As a result, production reached the peak level of $X, and then declined markedly in the following year.

Animal Fats Exports

Exports from Thailand

In 2021, approx. X kg of animal fats and oils were exported from Thailand; with a decrease of -70.5% on the year before. Over the period under review, exports continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2016 with an increase of 405% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, animal fats exports contracted remarkably to $X in 2021. In general, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 609%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X kg) and Vietnam (X kg) were the main destinations of animal fats exports from Thailand.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +73.7%).

In value terms, Vietnam ($X) and Hong Kong SAR ($X) constituted the largest markets for animal fats exported from Thailand worldwide.

Vietnam, with a CAGR of +36.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average animal fats export price stood at $X per ton in 2021, increasing by 4.1% against the previous year. Over the period under review, the export price enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 522% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Hong Kong SAR amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+44.1%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Fats Imports

Imports into Thailand

Animal fats imports into Thailand surged to X tons in 2021, growing by 138% against the year before. Overall, imports, however, showed a precipitous descent. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, animal fats imports surged to $X in 2021. In general, imports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 120%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) constituted the largest animal fats supplier to Thailand, with a 87% share of total imports. Moreover, animal fats imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by Malaysia (X tons), with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+304.5% per year) and Malaysia (+75.9% per year).

In value terms, the largest animal fats suppliers to Thailand were China ($X), Japan ($X) and Norway ($X), together accounting for 94% of total imports.

In terms of the main suppliers, China, with a CAGR of +478.6%, saw 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 average animal fats import price amounted to $X per ton, with a decrease of -32.5% against the previous year. In general, the import price, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2020 an increase of 162%. As a result, import price attained the peak level of $X per ton, and then dropped markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+34.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for animal fats and oils in the world?

The countries with the highest volumes of animal fats consumption in 2020 were China, the U.S. and India, with a combined 27% share of global consumption. These countries were followed by Italy, Japan, Russia, Brazil, Indonesia, Spain, Germany, Mexico, Pakistan and France, which together accounted for a further 26%.

What are the largest producers of animal fats and oils in the world?

China constituted the country with the largest volume of animal fats production, accounting for 15% of total volume. Moreover, animal fats production in China exceeded the figures recorded by the second-largest producer, the U.S., twofold. The third position in this ranking was occupied by India, with a 5.6% share.

What are the leading suppliers of animal fats and oils to Thailand?

In value terms, China, Japan and Norway were the largest animal fats suppliers to Thailand, together accounting for 89% of total imports. These countries were followed by Malaysia, the Netherlands and South Korea, which together accounted for a further 10%.

What are the leading importers of animal fats and oils from Thailand?

In value terms, the Netherlands emerged as the key foreign market for animal fats exports from Thailand, comprising 92% of total exports. The second position in the ranking was occupied by Vietnam $713), with a 6.6% share of total exports.

What is the average export price for animal fats and oils in Thailand?

The average animal fats export price stood at $4,280 per ton in 2020, jumping by 133% against the previous year.

What is the average import price for animal fats and oils in Thailand?

The average animal fats import price stood at $15,757 per ton in 2020, with an increase of 226% against the previous year.

This report provides an in-depth analysis of the animal fats market in Thailand. 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:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024