ASEAN: Market for Colouring Matter Of Vegetable Or Animal Origin 2025

Market Size for Colouring Matter Of Vegetable Or Animal Origin in ASEAN

In 2021, the ASEAN market for colouring matter of vegetable or animal origin was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Colouring Matter Of Vegetable Or Animal Origin in ASEAN

In value terms, vegetable or animal colouring matter production rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 20% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports in ASEAN

In 2021, after two years of growth, there was significant decline in shipments abroad of colouring matter of vegetable or animal origin, when their volume decreased by -8% to X tons. Overall, exports recorded a noticeable contraction. The pace of growth was the most pronounced in 2013 when exports increased by 57% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, vegetable or animal colouring matter exports shrank significantly to $X in 2021. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2013 when exports increased by 17% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X tons) and Thailand (X tons) were the major exporters of colouring matter of vegetable or animal origin in 2021, resulting at near 47% and 32% of total exports, respectively. Malaysia (X tons) ranks next in terms of the total exports with a 13% share, followed by Indonesia (5.4%). Vietnam (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +45.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, with a combined 89% share of total exports. These countries were followed by Vietnam and Indonesia, which together accounted for a further 9%.

In terms of the main exporting countries, Vietnam, with a CAGR of +43.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, which is down by -24% against the previous year. Over the period under review, the export price continues to indicate a slight reduction. The growth pace was the most rapid in 2015 when the export price increased by 59% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.5%), while the other leaders experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports in ASEAN

For the third consecutive year, ASEAN recorded growth in purchases abroad of colouring matter of vegetable or animal origin, which increased by 12% to X tons in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.5% 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 +73.1% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 31%. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, vegetable or animal colouring matter imports surged to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.1% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Vietnam (X tons) was the key importer of colouring matter of vegetable or animal origin, comprising 38% of total imports. It was distantly followed by Singapore (X tons), Thailand (X tons), Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons), together comprising a 61% share of total imports.

Imports into Vietnam increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Singapore (+9.9%), Indonesia (+6.3%) and the Philippines (+1.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +9.9% from 2012-2021. By contrast, Thailand (-1.1%) and Malaysia (-3.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, Singapore and Indonesia increased by +7.8, +7.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vegetable or animal colouring matter importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Indonesia ($X), together accounting for 70% of total imports.

Indonesia, with a CAGR of +10.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, picking up by 6.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 12%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform