Asia: Biological Product Market 2024

Biological Product Market Size in Asia

The Asian biological product market stood at $X in 2022, with an increase of X% against the previous year. In general, consumption, however, showed a prominent increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Biological Product Production in Asia

In value terms, biological product production surged to $X in 2022 estimated in export price. Overall, production, however, continues to indicate resilient growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Biological Product Exports

Exports in Asia

In 2022, overseas shipments of biological products decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then contracted remarkably in the following year.

In value terms, biological product exports contracted notably to $X in 2022. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by South Korea (X tons), making up an X% share of total exports. The following exporters - Turkey (X tons) and India (X tons) - each amounted to a X% share of total exports.

China was also the fastest-growing in terms of the biological products exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. India experienced a relatively flat trend pattern. By contrast, Turkey (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while India and Turkey saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) emerged as the largest biological product supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with an X% share of total exports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual growth rate of value in South Korea amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, increasing by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Biological Product Imports

Imports in Asia

In 2022, after six years of growth, there was significant decline in supplies from abroad of biological products, when their volume decreased by X% to X tons. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, biological product imports declined remarkably to $X in 2022. Overall, imports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, Vietnam (X tons) represented the largest importer of biological products, mixing up X% of total imports. China (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons), Japan (X tons), the Philippines (X tons) and Turkey (X tons). All these countries together held approx. X% share of total imports. Saudi Arabia (X tons), Iraq (X tons), South Korea (X tons), India (X tons), Iran (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to biological product imports into Vietnam stood at X%. At the same time, Taiwan (Chinese) (X%), India (X%), the Philippines (X%), Iraq (X%), China (X%), Turkey (X%), South Korea (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Iran (X%) and Japan (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Taiwan (Chinese) (X p.p.), the Philippines (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia, Iran and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Taiwan (Chinese), Vietnam, Turkey, Saudi Arabia, the Philippines, Iraq, India, Iran and Malaysia lagged somewhat behind, together comprising a further X%.

Taiwan (Chinese), with a CAGR of X%, saw 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 2022, the import price in Asia amounted to $X per ton, picking up by X% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X,645 per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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