U.S. - Animal Fats And Oils - Market Analysis, Forecast, Size, Trends And Insights
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View PricingUS Imports of Animal Fats Reach Lowest Level in March 2023 at $2.7M
U.S. Animal Fats Imports
In March 2023, the amount of animal fats and oils imported into the United States fell to 96 tons, reducing by -11.1% on the previous month. Overall, imports showed a deep contraction. The most prominent rate of growth was recorded in May 2022 with an increase of 125% m-o-m.
In value terms, animal fats imports contracted significantly to $2.7M (IndexBox estimates) in March 2023. Over the period under review, imports saw a abrupt descent. The growth pace was the most rapid in May 2022 with an increase of 168% month-to-month. As a result, imports reached the peak of $7.6M. From June 2022 to March 2023, the growth of imports remained at a somewhat lower figure.
| COUNTRY | Import Value of Animal Fats in U.S. (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | |
| China | 2.4 | 0.7 | 1.3 | 0.6 | 0.5 | 0.6 | 0.3 | 0.5 | 1.4 | 0.5 | 0.3 | 0.8 | 0.9 |
| Norway | 3.2 | 1.0 | 5.2 | 4.6 | 2.5 | 5.8 | 2.9 | 2.5 | 4.5 | 2.7 | 4.2 | 1.8 | 0.8 |
| Germany | 0.5 | 1.1 | 0.9 | 0.6 | 1.7 | N/A | 0.2 | 0.8 | 0.5 | 0.1 | 2.1 | 0.5 | 0.7 |
| Japan | 0.3 | N/A | 0.2 | N/A | 0.4 | 0.4 | N/A | 0.4 | N/A | N/A | 0.5 | N/A | 0.4 |
| United Kingdom | 0.1 | N/A | N/A | 0.1 | N/A | N/A | N/A | N/A | 0.1 | N/A | N/A | N/A | N/A |
| Others | N/A | 0.1 | N/A | 0.1 | N/A | N/A | N/A | 0.2 | N/A | N/A | 0.1 | 0.2 | N/A |
| Total | 6.5 | 2.8 | 7.6 | 6.1 | 5.1 | 6.9 | 3.5 | 4.5 | 6.5 | 3.3 | 7.1 | 3.2 | 2.7 |
Imports by Country
China (46 tons), Norway (31 tons) and Germany (11 tons) were the main suppliers of animal fats imports to the United States, together accounting for 91% of total imports. These countries were followed by Japan, which accounted for a further 9%.
From March 2022 to March 2023, the biggest increases were in Japan (with a CAGR of +1.7%), while purchases for the other leaders experienced a decline.
In value terms, China ($861K), Norway ($787K) and Germany ($658K) appeared to be the largest animal fats suppliers to the United States, together comprising 86% of total imports. These countries were followed by Japan, which accounted for a further 14%.
Among the main suppliers, Japan, with a CAGR of +2.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.
Import Prices by Country
In March 2023, the animal fats price stood at $27,945 per ton (CIF, US), shrinking by -4.8% against the previous month. Over the period from March 2022 to March 2023, it increased at an average monthly rate of +1.3%. The pace of growth was the most pronounced in November 2022 an increase of 42% m-o-m. Over the period under review, average import prices hit record highs at $33,533 per ton in August 2022; however, from September 2022 to March 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($59,722 per ton), while the price for China ($18,841 per ton) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Germany (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the animal fats market in the U.S.. 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:
- Prodcom 10416030 - Animal fats and oils and their fractions partly or wholly hydrogenated, inter-esterified, re-esterified or elaidinised, but not further prepared (including refined)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
