South-Eastern Asia: Animal Feed Market 2024

Animal Feed Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian animal feed market decreased by X% to $X in 2023. The total consumption indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2022, and then declined slightly in the following year.

Animal Feed Production in South-Eastern Asia

In value terms, animal feed production declined slightly to $X in 2023 estimated in export price. The total production indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2022, and then shrank slightly in the following year.

Animal Feed Exports

Exports in South-Eastern Asia

In 2023, after five years of growth, there was decline in shipments abroad of animal and pet feed, when their volume decreased by X% to X tons. Total exports indicated pronounced growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then contracted in the following year.

In value terms, animal feed exports contracted modestly to $X in 2023. Overall, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2018 when exports increased by X%. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

Malaysia (X tons) and Thailand (X tons) represented the major exporters of animal and pet feed in 2023, amounting to near X% and X% of total exports, respectively. Vietnam (X tons) took the next position in the ranking, followed by Singapore (X tons) and Indonesia (X tons). All these countries together took near X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed supplying countries in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Singapore ($X), together comprising X% of total exports. Malaysia and Indonesia lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X%. The level of export peaked at $X per ton in 2022, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Animal Feed Imports

Imports in South-Eastern Asia

In 2023, imports of animal and pet feed in South-Eastern Asia stood at X tons, picking up by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

In value terms, animal feed imports stood at $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of animal feed imports in 2023 were Vietnam (X tons), Indonesia (X tons), Brunei Darussalam (X tons) and Thailand (X tons), together reaching X% of total import. Malaysia (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%), Lao People's Democratic Republic (X%) and Singapore (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Brunei Darussalam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest animal feed importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for X% of total imports. The Philippines, Malaysia, Brunei Darussalam, Singapore and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Brunei Darussalam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in South-Eastern Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform