ASEAN: Organ Extracts Market 2024

Organ Extracts Market Size in ASEAN

The ASEAN organ extracts market soared to $X in 2021, picking up by 83% against the previous year. In general, consumption, however, posted a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Organ Extracts Production in ASEAN

In value terms, organ extracts production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 41,090%. As a result, production reached the peak level of $X, and then plummeted in the following year.

Organ Extracts Exports

Exports in ASEAN

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were exported in ASEAN; with a decrease of -93.9% on the previous year's figure. Over the period under review, exports faced a abrupt decline. The pace of growth was the most pronounced in 2013 when exports increased by 2,884% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, organ extracts exports reduced rapidly to $X in 2021. In general, exports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2013 with an increase of 1,866%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) and Thailand (X tons) represented roughly 74% of total exports in 2021. It was distantly followed by Singapore (X tons), generating a 15% share of total exports. Cambodia (X kg), Myanmar (X kg), Vietnam (X kg) and the Philippines (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +78.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) emerged as the largest organ extracts supplier in ASEAN, comprising 89% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 5.9% share of total exports. It was followed by Singapore, with a 3.1% share.

In Thailand, organ extracts exports plunged by an average annual rate of -2.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+54.0% per year) and Singapore (+3.0% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, growing by 397% against the previous year. Over the period under review, the export price continues to indicate a strong increase. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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 Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+35.5%), while the other leaders experienced more modest paces of growth.

Organ Extracts Imports

Imports in ASEAN

In 2021, after three years of decline, there was growth in supplies from abroad of extracts of glands or other organs or of their secretions, when their volume increased by 2.1% to X tons. Over the period under review, imports saw slight growth. The pace of growth appeared the most rapid in 2017 when imports increased by 66% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, organ extracts imports reached $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 80% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the five major importers of extracts of glands or other organs or of their secretions, namely Thailand, Vietnam, Indonesia, Singapore and the Philippines, represented more than two-thirds of total import. It was distantly followed by Malaysia (X tons), creating a 5.5% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +59.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 70% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +35.8%, saw the highest growth rate of 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

The import price in ASEAN stood at $X per ton in 2021, increasing by 4.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 71%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+27.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform