Asia: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Asia

The Asian bone glue and gelatin market declined modestly to $X in 2022, remaining constant against the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.7% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Bone Glues and Gelatin in Asia

In value terms, bone glue and gelatin production shrank slightly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.9% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 14%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Bone Glues and Gelatin

Exports in Asia

For the sixth year in a row, Asia recorded growth in overseas shipments of bone glues and gelatin, which increased by 1.6% to X tons in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.3% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 17%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, bone glue and gelatin exports rose remarkably to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.4% against 2016 indices. The pace of growth was the most pronounced in 2019 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

China represented the major exporting country with an export of about X tons, which reached 48% of total exports. Turkey (X tons) took the second position in the ranking, distantly followed by India (X tons) and South Korea (X tons). All these countries together took near 36% share of total exports. The following exporters - Vietnam (X tons), Japan (X tons) and Pakistan (X tons) - together made up 10% of total exports.

Exports from China increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Vietnam (+35.4%), Turkey (+21.4%) and South Korea (+1.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +35.4% from 2012-2022. Pakistan and India experienced a relatively flat trend pattern. By contrast, Japan (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Vietnam increased by +15 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bone glue and gelatin supplying countries in Asia were China ($X), Turkey ($X) and India ($X), together accounting for 75% of total exports. South Korea, Japan, Vietnam and Pakistan lagged somewhat behind, together accounting for a further 19%.

Among the main exporting countries, Vietnam, with a CAGR of +40.6%, 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

In 2022, the export price in Asia amounted to $X per ton, picking up by 7.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2019 when the export price increased by 9% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Pakistan ($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 (+8.8%), while the other leaders experienced more modest paces of growth.

Imports of Bone Glues and Gelatin

Imports in Asia

In 2022, the amount of bone glues and gelatin imported in Asia expanded slightly to X tons, surging by 2.2% compared with 2021. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 when imports increased by 18% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, bone glue and gelatin imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Japan (X tons), China (X tons), South Korea (X tons), India (X tons), Vietnam (X tons), Indonesia (X tons), Iran (X tons) and Turkey (X tons) represented the largest importer of bone glues and gelatin in Asia, making up 77% of total import. Thailand (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), Cambodia (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +34.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and India ($X) were the countries with the highest levels of imports in 2022, together comprising 40% of total imports. China, Vietnam, Indonesia, Iran, Turkey, the Philippines, Taiwan (Chinese), Thailand, the United Arab Emirates and Cambodia lagged somewhat behind, together comprising a further 50%.

Cambodia, with a CAGR of +23.6%, 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 6.2% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 8.6% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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