United Kingdom: Rendered Pig Fat Market 2024

Rendered Pig Fat Market Size in the UK

In 2021, the UK rendered pig fat market increased by 63% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Rendered Pig Fat Production in the UK

In value terms, rendered pig fat production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt descent. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Rendered Pig Fat Exports

Exports from the UK

In 2021, shipments abroad of lard and other pig fat (rendered) decreased by -94.2% to X tons, falling for the second year in a row after three years of growth. Over the period under review, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 103%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, rendered pig fat exports fell sharply to $X in 2021. In general, exports recorded a sharp slump. The most prominent rate of growth was recorded in 2013 when exports increased by 78%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Denmark (X tons) was the main destination for rendered pig fat exports from the UK, with a 89% share of total exports. Moreover, rendered pig fat exports to Denmark exceeded the volume sent to the second major destination, France (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Denmark amounted to -17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+113.8% per year) and Turkey (-26.7% per year).

In value terms, Denmark ($X) remains the key foreign market for lard and other pig fat (rendered) exports from the UK, comprising 86% of total exports. The second position in the ranking was held by France ($X), with a 5.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark stood at -20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+72.2% per year) and Turkey (-29.5% per year).

Export Prices by Country

In 2021, the average rendered pig fat export price amounted to $X per ton, jumping by 24% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 26%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+10.8%), while the prices for the other major destinations experienced a decline.

Rendered Pig Fat Imports

Imports into the UK

In 2021, rendered pig fat imports into the UK was estimated at X tons, rising by 9.3% on 2020. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 20%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, rendered pig fat imports soared to $X in 2021. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Italy (X tons) and Denmark (X tons) were the main suppliers of rendered pig fat imports to the UK, with a combined 70% share of total imports. Sweden, Poland, Belgium, France and Germany lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +48.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rendered pig fat suppliers to the UK were Italy ($X), the Netherlands ($X) and Denmark ($X), together comprising 72% of total imports. Sweden, Poland, France, Belgium and Germany lagged somewhat behind, together accounting for a further 27%.

Sweden, with a CAGR of +43.6%, saw the highest growth rate of the value of imports, among the main suppliers 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 rendered pig fat import price amounted to $X per ton, increasing by 24% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 43%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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