ASEAN: Pyrethrum And Peppermint Market 2025

Pyrethrum And Peppermint Market Size in ASEAN

The ASEAN pyrethrum and peppermint market was finally on the rise to reach $X in 2021, after five years of decline. Overall, consumption, however, saw a abrupt slump. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Pyrethrum And Peppermint Production in ASEAN

In value terms, pyrethrum and peppermint production reduced to $X in 2021 estimated in export price. Overall, production continues to indicate a mild setback. The growth pace was the most rapid in 2016 with an increase of 6.9% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Pyrethrum And Peppermint Exports

Exports in ASEAN

For the fifth year in a row, ASEAN recorded growth in overseas shipments of pyrethrum and peppermint, which increased by 1% to X tons in 2021. In general, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 68%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, pyrethrum and peppermint exports contracted to $X in 2021. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 74%. The level of export peaked at $X in 2020, and then contracted in the following year.

Exports by Country

In 2021, Vietnam (X tons) represented the key exporter of pyrethrum and peppermint, achieving 60% of total exports. It was distantly followed by Myanmar (X tons), Indonesia (X tons) and Thailand (X tons), together mixing up a 36% share of total exports. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Exports from Vietnam increased at an average annual rate of +25.0% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+32.3%), Myanmar (+10.6%) and Thailand (+3.1%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +32.3% from 2012-2021. Indonesia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Vietnam and Lao People's Democratic Republic increased by +37 and +1.8 percentage points, respectively.

In value terms, the largest pyrethrum and peppermint supplying countries in ASEAN were Vietnam ($X), Indonesia ($X) and Myanmar ($X), with a combined 82% share of total exports. Thailand and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 12%.

In terms of the main exporting countries, Lao People's Democratic Republic, with a CAGR of +18.7%, saw 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

The export price in ASEAN stood at $X per ton in 2021, shrinking by -11.6% against the previous year. Over the period under review, the export price continues to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2013 an increase of 30%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while Vietnam ($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 (+8.1%), while the other leaders experienced a decline in the export price figures.

Pyrethrum And Peppermint Imports

Imports in ASEAN

In 2021, purchases abroad of pyrethrum and peppermint increased by 27% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 49% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, pyrethrum and peppermint imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam was the major importing country with an import of about X tons, which recorded 38% of total imports. Singapore (X tons) ranks second in terms of the total imports with a 17% share, followed by Thailand (16%), Malaysia (15%) and Indonesia (13%).

From 2012 to 2021, average annual rates of growth with regard to pyrethrum and peppermint imports into Vietnam stood at -3.5%. At the same time, Singapore (+9.7%) and Indonesia (+5.9%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +9.7% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Malaysia (-2.5%) illustrated a downward trend over the same period. While the share of Singapore (+10 p.p.) and Indonesia (+5.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Malaysia (-3.3 p.p.) and Vietnam (-13.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pyrethrum and peppermint importing markets in ASEAN were Singapore ($X), Vietnam ($X) and Malaysia ($X), together comprising 84% of total imports.

In terms of the main importing countries, Singapore, with a CAGR of +10.9%, 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

In 2021, the import price in ASEAN amounted to $X per ton, dropping by -9% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pyrethrum and peppermint import price decreased by -24.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 43%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform