Asia: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Asia

The Asian market for colouring matter of vegetable or animal origin was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Colouring Matter Of Vegetable Or Animal Origin in Asia

In value terms, vegetable or animal colouring matter production reached $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.1% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 15%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports in Asia

In 2021, approx. X tons of colouring matter of vegetable or animal origin were exported in Asia; approximately mirroring the year before. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +11.7% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 36%. The volume of export peaked at X tons in 2020, and then fell slightly in the following year.

In value terms, vegetable or animal colouring matter exports expanded rapidly to $X in 2021. Over the period under review, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2015 when exports increased by 80%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

China represented the key exporter of colouring matter of vegetable or animal origin in Asia, with the volume of exports finishing at X tons, which was approx. 50% of total exports in 2021. It was distantly followed by India (X tons), Israel (X tons) and Turkey (X tons), together achieving a 39% share of total exports. The following exporters - Singapore (X tons), Japan (X tons) and Thailand (X tons) - each resulted at a 5.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +45.7%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest vegetable or animal colouring matter supplier in Asia, comprising 68% of total exports. The second position in the ranking was taken by Israel ($X), with a 12% share of total exports. It was followed by India, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +36.5%. In the other countries, the average annual rates were as follows: Israel (+13.4% per year) and India (+8.7% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 7.4% against the previous year. In general, the export price posted a strong increase. The pace of growth was the most pronounced in 2015 an increase of 58%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

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 Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+18.2%), while the other leaders experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports in Asia

In 2021, purchases abroad of colouring matter of vegetable or animal origin was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, vegetable or animal colouring matter imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 20% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons), distantly followed by Vietnam (X tons), Turkey (X tons), South Korea (X tons), China (X tons), India (X tons), Singapore (X tons) and Thailand (X tons) represented the key importers of colouring matter of vegetable or animal origin, together creating 67% of total imports. The following importers - Bangladesh (X tons), Taiwan (Chinese) (X tons), Iran (X tons), Israel (X tons) and the United Arab Emirates (X tons) - together made up 16% 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 United Arab Emirates (with a CAGR of +18.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported colouring matter of vegetable or animal origin in Asia, comprising 39% of total imports. The second position in the ranking was taken by China ($X), with a 9.5% share of total imports. It was followed by South Korea, with a 9.4% share.

In Japan, vegetable or animal colouring matter imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: China (+1.7% per year) and South Korea (+12.2% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, dropping by -2.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2020 when the import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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