Report Update Nov 1, 2024

Thailand - Lard - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Lard Market 2024

Lard Market Size in Thailand

The Thai lard market rose rapidly to $X in 2022, picking up by 9.9% against the previous year. In general, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Lard Production in Thailand

In value terms, lard production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a temperate expansion. The most prominent rate of growth was recorded in 2020 with an increase of 108%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Lard Exports

Exports from Thailand

In 2022, the amount of lard exported from Thailand dropped sharply to X kg, which is down by -97.7% compared with the previous year's figure. In general, exports showed a sharp setback. The most prominent rate of growth was recorded in 2019 when exports increased by 2,171%. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, lard exports shrank dramatically to $X in 2022. Overall, exports showed a precipitous descent. The most prominent rate of growth was recorded in 2019 when exports increased by 1,929%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X kg) was the main destination for lard exports from Thailand, with a approx. 100% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Japan amounted to +13.0%.

In value terms, Japan ($X) also remains the key foreign market for lard exports from Thailand.

From 2013 to 2022, the average annual growth rate of value to Japan amounted to +8.0%.

Export Prices by Country

In 2022, the average lard export price amounted to $X per ton, waning by -59.4% against the previous year. Overall, the export price, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 112%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then fell dramatically in the following year.

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

From 2013 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to -2.3% per year.

Lard Imports

Imports into Thailand

For the third year in a row, Thailand recorded decline in overseas purchases of lard, which decreased by 99.9% to less than X kg in 2022. In general, imports recorded a sharp setback. The most prominent rate of growth was recorded in 2017 when imports increased by 422% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, lard imports reduced remarkably to $X in 2022. Over the period under review, imports faced a significant contraction. The most prominent rate of growth was recorded in 2017 with an increase of 277% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X kg) was the main lard supplier to Thailand, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Vietnam was relatively modest.

In value terms, Vietnam ($X) constituted the largest supplier of lard to Thailand.

From 2012 to 2021, the average annual rate of growth in terms of value from Vietnam was relatively modest.

Import Prices by Country

The average lard import price stood at $X per ton in 2021, growing by 498% against the previous year. Over the period under review, the import price showed a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Vietnam.

From 2012 to 2021, the rate of growth in terms of prices for the Philippines amounted to +56.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lard in the world?

The country with the largest volume of lard consumption was China, accounting for 32% of total volume. Moreover, lard consumption in China exceeded the figures recorded by the second-largest consumer, Germany, fourfold. The third position in this ranking was occupied by Brazil, with an 8.5% share.

What are the largest producers of lard in the world?

The country with the largest volume of lard production was China, accounting for 32% of total volume. Moreover, lard production in China exceeded the figures recorded by the second-largest producer, Germany, fourfold. The third position in this ranking was occupied by Brazil, with an 8.4% share.

What are the leading suppliers of lard to Thailand?

In value terms, Vietnam $351) constituted the largest supplier of lard to Thailand.

What are the leading importers of lard from Thailand?

In value terms, Singapore $516) remains the key foreign market for lard exports from Thailand, comprising 100% of total exports. The second position in the ranking was occupied by Japan $1), with a 0.2% share of total exports.

What is the average export price for lard in Thailand?

The average lard export price stood at $7,948 per ton in 2021, with an increase of 78% against the previous year.

What is the average import price for lard in Thailand?

In 2021, the average lard import price amounted to $5,239 per ton, shrinking by -10% against the previous year.

This report provides an in-depth analysis of the lard 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:

FCL 1043 - Lard

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