ASEAN: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in ASEAN

The ASEAN medicaments containing vitamins market rose significantly to $X in 2021, increasing by 7.8% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.7% against 2019 indices. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2021.

Medicaments Containing Vitamins Production in ASEAN

In value terms, medicaments containing vitamins production expanded to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 61% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Medicaments Containing Vitamins Exports

Exports in ASEAN

In 2021, exports of medicaments containing vitamins and provitamins in ASEAN plummeted to X tons, waning by -15.3% compared with the previous year. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 42%. As a result, the exports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, medicaments containing vitamins exports declined to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 27%. The level of export peaked at $X in 2020, and then declined in the following year.

Exports by Country

The biggest shipments were from Vietnam (X tons), Indonesia (X tons), Thailand (X tons) and Singapore (X tons), together reaching 86% of total export. It was distantly followed by the Philippines (X tons) and Malaysia (X tons), together mixing up a 14% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +16.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2021, together accounting for 78% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +9.9%, recorded the highest rates of growth with regard to 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, picking up by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2017 an increase of 32% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices remained 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 Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.9%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports in ASEAN

In 2021, purchases abroad of medicaments containing vitamins and provitamins increased by 11% to X tons, rising for the second consecutive year after three years of decline. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% 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 +28.5% against 2019 indices. The growth pace was the most rapid in 2015 when imports increased by 53% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, medicaments containing vitamins imports rose markedly to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +124.0% against 2014 indices. The pace of growth appeared the most rapid in 2015 with an increase of 29% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

Vietnam (X tons) and the Philippines (X tons) represented the major importers of medicaments containing vitamins and provitamins in 2021, recording near 29% and 24% of total imports, respectively. Myanmar (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (11%), Cambodia (10%) and Malaysia (7.9%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +29.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), the Philippines ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, together accounting for 72% of total imports. These countries were followed by Malaysia, Myanmar, Cambodia and Indonesia, which together accounted for a further 23%.

Cambodia, with a CAGR of +33.7%, saw the highest growth rate of the value of imports, in terms of 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, declining by -4.2% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 50% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood 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 ($X per ton), while Myanmar ($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 (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform