Asia: Organ Extracts Market 2024

Organ Extracts Market Size in Asia

The Asian organ extracts market was finally on the rise to reach $X in 2021, after four years of decline. Overall, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Organ Extracts Production in Asia

In value terms, organ extracts production declined slightly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Organ Extracts Exports

Exports in Asia

Organ extracts exports reduced remarkably to X tons in 2021, dropping by -53% on the year before. Overall, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2013 when exports increased by 322%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, organ extracts exports declined rapidly to $X in 2021. Over the period under review, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. As a result, the exports attained the peak of $X, and then contracted notably in the following year.

Exports by Country

India (X tons) and China (X tons) represented roughly 65% of total exports in 2021. It was distantly followed by Japan (X tons) and Hong Kong SAR (X tons), together making up a 17% share of total exports. The United Arab Emirates (X tons), South Korea (X tons) and Malaysia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +57.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest organ extracts supplying countries in Asia were China ($X), Japan ($X) and India ($X), together comprising 97% of total exports. These countries were followed by South Korea, Hong Kong SAR, Malaysia and the United Arab Emirates, which together accounted for a further 1%.

In terms of the main exporting countries, Malaysia, with a CAGR of +54.0%, 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 Asia stood at $X per ton in 2021, jumping by 63% against the previous year. Over the period under review, the export price showed a buoyant expansion. The growth pace was the most rapid in 2014 an increase of 166%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the other leaders experienced mixed trends in the export price figures.

Organ Extracts Imports

Imports in Asia

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were imported in Asia; reducing by -24.1% on the previous year's figure. In general, imports showed a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 102% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, organ extracts imports reduced to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 77%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) was the largest importer of extracts of glands or other organs or of their secretions, comprising 39% of total imports. South Korea (X tons) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Iran (8.3%), Thailand (6.5%), Israel (5.5%), Vietnam (5.2%) and the United Arab Emirates (5.1%). Indonesia (X tons), Hong Kong SAR (X tons), Singapore (X tons) and the Philippines (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to organ extracts imports into Japan stood at +10.8%. At the same time, the Philippines (+59.2%), Israel (+21.9%), Iran (+17.3%), the United Arab Emirates (+16.0%), Vietnam (+6.1%) and Thailand (+2.8%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +59.2% from 2012-2021. By contrast, Singapore (-1.7%), Indonesia (-6.7%), South Korea (-20.5%) and Hong Kong SAR (-24.4%) illustrated a downward trend over the same period. Japan (+30 p.p.), Iran (+7.1 p.p.), Israel (+4.9 p.p.), the United Arab Emirates (+4.3 p.p.), Thailand (+3.3 p.p.), Vietnam (+3.3 p.p.) and the Philippines (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and South Korea saw its share reduced by -21.7% and -33% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Japan ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. These countries were followed by Iran, Vietnam, Israel, the United Arab Emirates, Indonesia, Thailand, Singapore and the Philippines, which together accounted for a further 23%.

Vietnam, with a CAGR of +35.8%, recorded 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 Asia amounted to $X per ton, growing by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2013 when the import price increased by 67% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+42.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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