Lard and poultry fats market in South-eastern Asia

Earlier Report Observations

The market volume for lard and poultry fats in South-eastern Asia contracted from 41 058 t in 2018 to 32 053 t in 2023, a decline that persisted throughout the period with the most pronounced drop occurring between 2018 and 2019.

By 2024, market dynamics were influenced by new entrants and shifting demand, notably Tyson Foods' launch of halal-certified chicken products in Malaysia in 2022, reflecting regional product innovation. Increased global demand for poultry meat and growth in the animal feed sector also emerged as key factors with the potential to affect the market.

Production lard and poultry fats in South-eastern Asia

In kind, 2017-2020, t

Top producers of lard and poultry fats, 2017-2020

World map of production of lard and poultry fats, 2017-2020

Production of lard and poultry fats in South-eastern Asia declined for the second year in a row. In 2019, the region produced 33 129 tonnes, but this fell to 29 739 tonnes in 2020, a significant drop of 10.2%. Over the period from 2017 to 2020, production decreased by 16.2%, which translates to an average annual decline of 5.7%. The highest production level was recorded in 2018 at 36 356 tonnes, with the largest year-on-year increase of 2.4% also occurring that year.

Annual dynamics of production in South-eastern Asia in kind, 2017-2020, t

Exports lard and poultry fats from South-eastern Asia

Exports in kind, t

The export market for lard and poultry fats from South-eastern Asia showed considerable volatility during this period. Exports hit their lowest point in 2018 at just 12 tonnes, then surged to 71 tonnes in 2020, marking a sharp increase of 61.8% compared to 2019. The difference between the peak in 2017 and the trough in 2018 was substantial, with exports varying by a factor of 7.7. The largest decline occurred in 2018, falling by 87.0%, while the most significant increase was in 2019, jumping by 261.5%.

Annual dynamics of product's exports from South-eastern Asia in kind, 2017-2020, t

From 2017 to 2020, three key markets—Japan, Hong Kong, and South Korea—collectively accounted for 81.5% of South-eastern Asia's total exports of lard and poultry fats in volume terms.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South-eastern Asia in kind, 2017-2020

Exports in value, K $ US

Export values for lard and poultry fats from South-eastern Asia displayed irregular patterns, reflecting a volatile market. In 2018, exports reached their lowest point at 22 thousand US dollars, then climbed to a peak of 218 thousand US dollars in 2019, before dropping to 113 thousand US dollars in 2020, a decrease of 48.4% from the previous year. The difference between the high in 2019 and the low in 2018 was a factor of 9.8. The largest decline was in 2018, down by 85.7%, while the biggest increase occurred in 2019, soaring by 877.9%.

Annual dynamics of product's exports from South-eastern Asia in value, 2017-2020, K $ US

During the 2017–2020 period, Japan and South Korea dominated the export market in value terms, together making up 83.2% of total flows, with other countries accounting for the remainder.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South-eastern Asia in value, 2017-2020

Imports lard and poultry fats to South-eastern Asia

Imports in kind, t

Import volumes of lard and poultry fats into South-eastern Asia were marked by volatility. Starting from a low of 1 870 tonnes in 2017, imports rose to 4 862 tonnes in 2020, a dramatic year-on-year increase of 123.1%. The difference between the high in 2020 and the low in 2017 was a factor of 2.6. The largest decline was recorded in 2019, falling by 53.8%, while the most significant increase happened in 2018, up by 155.9%.

Annual dynamics of product's imports to South-eastern Asia in kind, 2017-2020, t

From 2017 to 2020, Germany, France, and Hong Kong were the top sources for imports in volume terms, contributing 22.3%, 18.4%, and 15.7% respectively. Together, these three markets accounted for 56.4% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South-eastern Asia in kind, 2017-2020

Imports in value, K $ US

The import market in value terms showed an unstable trend over these years. Imports bottomed out in 2017, then peaked in 2018 at 4 795 thousand US dollars, before settling at 3 717 thousand US dollars in 2020, an increase of 52.3% compared to 2019. The difference between the peak in 2018 and the trough in 2017 was a factor of 2.3. The largest decline occurred in 2019, down by 49.1%, while the biggest increase was in 2018, rising by 129.4%.

Annual dynamics of product's imports to South-eastern Asia in value, 2017-2020, K $ US

In the 2017–2020 period, France, Germany, and Australia led as the main suppliers in value terms, with shares of 32.9%, 19.9%, and 13.5% respectively. Collectively, they represented 66.3% of total import value for lard and poultry fats into South-eastern Asia.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South-eastern Asia in value, 2017-2020