Lard and poultry fats market in Thailand

Earlier Report Observations

From 2018 to 2021, the market volume for lard and poultry fats in Thailand showed notable fluctuations. It started at 8 255 t in 2018, fell to 7 266 t in 2019, rose sharply to 8 605 t in 2020, and then declined again to 7 845 t in 2021.

In 2022, the market expanded to 8 368 t. This growth was primarily driven by the rising demand for animal fats as an ingredient in premium pet food, as Thailand strengthened its position as the world's third-largest exporter in this segment. Simultaneously, changing consumer preferences toward higher-quality pet nutrition and the development of modern retail distribution channels supported the increased consumption of these fats.

The market volume contracted to 7 448 t in 2023. During this period, the pet food industry continued to grow, with seven major players competing intensely, which influenced product development and raw material usage. However, high feed costs and evolving regulations for premium pet food production remained relevant factors shaping the market dynamics.

Production lard and poultry fats in Thailand

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

Thailand's production of lard and poultry fats rebounded after two years of decline. In 2019, production hit its lowest point at 7 266 tons, marking a 2.0% decrease. The following year, in 2020, output rose to 7 389 tons, representing a 1.7% increase compared to 2019.

Annual dynamics of production in Thailand in kind, 2017-2020, t

Exports lard and poultry fats from Thailand

Exports in kind, t

The export market for lard and poultry fats from Thailand showed significant volatility during this period. In 2019, exports dropped to their minimum of 0.0 tons, a sharp 99.7% decline. However, in 2020, exports surged dramatically to 27 tons, an extraordinary increase of 136,420.0% from the previous year. Overall, export volumes fluctuated widely, with a 4 672-fold difference between the peak in 2017 and the low in 2019.

Annual dynamics of product's exports from Thailand in kind, 2017-2020, t

From 2017 to 2020, Thailand's exports of lard and poultry fats were heavily concentrated among three key partners. Japan was the largest destination, accounting for 44.6% of exports in volume, followed by Hong Kong at 28.7%, and Belgium at 16.4%. Together, these three markets represented 89.7% of Thailand's total export flows during this period.

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

World map of product's exports from Thailand in kind, 2017-2020

Exports in value, K $ US

Export values for lard and poultry fats from Thailand experienced considerable instability. In 2019, exports reached their lowest point at 0.1 thousand US dollars, a 99.3% drop. The following year, in 2020, export values jumped to 32 thousand US dollars, a massive increase of 46,155.7% compared to 2019. Over the entire period, export values varied significantly, with a 2 234-fold difference between the high in 2017 and the low in 2019.

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

During the 2017–2020 period, Japan dominated Thailand's exports of lard and poultry fats in value terms, representing 66.9% of the total. Hong Kong followed with 12.5%, and Belgium accounted for 10.5%. Combined, these three buyers made up 89.9% of Thailand's total export value in this category.

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

World map of product's exports from Thailand in value, 2017-2020

Imports lard and poultry fats to Thailand

Imports in kind, t

Import volumes of lard and poultry fats into Thailand displayed extreme volatility. In 2019, imports fell to a minimum of 0.0 tons, a complete 100.0% decline. By 2020, imports skyrocketed to a significant volume, showing an astonishing increase of 4,970,704.8% year-over-year. The fluctuation was dramatic, with a 49 708-fold difference between the high in 2020 and the low in 2019.

Annual dynamics of product's imports to Thailand in kind, 2017-2020, t

Between 2017 and 2020, Australia was the dominant source for Thailand's imports of lard and poultry fats in volume, consistently making up 71.4% of total imports. The remaining share was distributed among various other countries.

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

World map of product's imports to Thailand in kind, 2017-2020

Imports in value, K $ US

Import values for lard and poultry fats in Thailand followed an unstable pattern. In 2019, imports bottomed out at 0.4 thousand US dollars, a 100.0% decrease. In 2020, import values surged to 1 332 thousand US dollars, reflecting a dramatic gain of 357,574.5% from the previous year. Overall, import values varied widely, with a 3 577-fold difference between the peak in 2020 and the low in 2019.

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

From 2017 to 2020, Australia and the United Kingdom were the primary sources for Thailand's imports of lard and poultry fats in value terms, together accounting for 83.3% of total imports. Other partners contributed the remaining share.

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

World map of product's imports to Thailand in value, 2017-2020