Report Update Nov 1, 2024

Thailand - Lard and Other Pig Fat (Rendered) - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in Thailand

After five years of growth, the Thai rendered pig fat market decreased by -16.8% to $X in 2021. Over the period under review, consumption, however, posted strong growth. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted markedly in the following year.

Rendered Pig Fat Production in Thailand

In value terms, rendered pig fat production fell rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a strong increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 80%. As a result, production attained the peak level of $X, and then declined significantly in the following year.

Rendered Pig Fat Exports

Exports from Thailand

In 2021, shipments abroad of lard and other pig fat (rendered) increased by 67% to X kg for the first time since 2015, thus ending a five-year declining trend. In general, exports, however, saw a sharp curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 92%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, rendered pig fat exports totaled $X in 2021. Over the period under review, exports, however, recorded a precipitous contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 72% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for rendered pig fat exports from Thailand, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to +69.4%.

In value terms, Singapore ($X) also remains the key foreign market for lard and other pig fat (rendered) exports from Thailand.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +14.8%.

Export Prices by Country

In 2021, the average rendered pig fat export price amounted to $X per ton, falling by -31.7% against the previous year. Over the period under review, the export price, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 167%. As a result, the export price reached the peak level of $X per ton, and then fell significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Singapore.

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to +18.2% per year.

Rendered Pig Fat Imports

Imports into Thailand

In 2021, purchases abroad of lard and other pig fat (rendered) decreased by -88% to X kg for the first time since 2018, thus ending a two-year rising trend. In general, imports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 11,122% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, rendered pig fat imports shrank markedly to $X in 2021. Over the period under review, imports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 3,975% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X kg) constituted the largest rendered pig fat supplier to Thailand, accounting for a 88% share of total imports. Moreover, rendered pig fat imports from the United States exceeded the figures recorded by the second-largest supplier, Italy (X kg), ninefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -42.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-48.7% per year) and France (0.0% per year).

In value terms, Italy ($X) constituted the largest supplier of lard and other pig fat (rendered) to Thailand, comprising 74% of total imports. The second position in the ranking was held by the United States ($X), with a 25% share of total imports. It was followed by the Philippines, with a 0.6% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to -33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-42.7% per year) and the Philippines (-55.9% per year).

Import Prices by Country

In 2021, the average rendered pig fat import price amounted to $X per ton, growing by 88% against the previous year. Over the period under review, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2018 an increase of 98% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+36.3%), 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 lard and other pig fat (rendered) in the world?

Spain constituted the country with the largest volume of rendered pig fat consumption, accounting for 34% of total volume. Moreover, rendered pig fat consumption in Spain exceeded the figures recorded by the second-largest consumer, Germany, threefold. The Netherlands ranked third in terms of total consumption with a 10% share.

What are the largest producers of lard and other pig fat (rendered) in the world?

The countries with the highest volumes of rendered pig fat production in 2020 were the United States, Spain and Germany, with a combined 60% share of global production. The Netherlands, France, Poland, Italy, Belgium, Denmark, Canada and Sweden lagged somewhat behind, together comprising a further 35%.

What are the leading suppliers of lard and other pig fat (rendered) to Thailand?

In value terms, the United States $658) constituted the largest supplier of rendered pig fat to Thailand.

What are the leading importers of lard and other pig fat (rendered) from Thailand?

In value terms, Singapore $371) emerged as the key foreign market for rendered pig fat exports from Thailand, comprising 99% of total exports. The second position in the ranking was occupied by Japan $4), with a 1.1% share of total exports.

What is the average export price for lard and other pig fat (rendered) in Thailand?

The average rendered pig fat export price stood at $576 per ton in 2020, which is down by -2.3% against the previous year.

What is the average import price for lard and other pig fat (rendered) in Thailand?

The average rendered pig fat import price stood at $255 per ton in 2020, with a decrease of -15.5% against the previous year.

This report provides an in-depth analysis of the rendered pig fat 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 10115060 - Lard and other pig fat, rendered

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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023