Asia: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Asia

In 2021, the Asian medicaments containing vitamins market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption posted resilient growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Medicaments Containing Vitamins Production in Asia

In value terms, medicaments containing vitamins production expanded remarkably to $X in 2021 estimated in export price. In general, production saw a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 86% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports in Asia

In 2021, shipments abroad of medicaments containing vitamins and provitamins increased by 23% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 25% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, India (X tons) was the main exporter of medicaments containing vitamins and provitamins, mixing up 53% of total exports. China (X tons) took the second position in the ranking, followed by Japan (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 30% share of total exports. The following exporters - Cyprus (X tons), Vietnam (X tons) and Indonesia (X tons) - each accounted for a 5.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to medicaments containing vitamins exports from India stood at +3.4%. At the same time, Cyprus (+44.1%), Hong Kong SAR (+23.6%), Japan (+17.4%) and Vietnam (+16.3%) displayed positive paces of growth. Moreover, Cyprus emerged as the fastest-growing exporter exported in Asia, with a CAGR of +44.1% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Indonesia (-3.8%) illustrated a downward trend over the same period. Japan (+6.9 p.p.), India (+5.5 p.p.), Hong Kong SAR (+4.6 p.p.) and Cyprus (+2 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest medicaments containing vitamins supplying countries in Asia were India ($X), Hong Kong SAR ($X) and Japan ($X), together comprising 63% of total exports. China, Indonesia, Vietnam and Cyprus lagged somewhat behind, together accounting for a further 15%.

Among the main exporting countries, Cyprus, with a CAGR of +44.0%, recorded 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 2021, the export price in Asia amounted to $X per ton, dropping by -13% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 14% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then dropped in the following year.

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 Hong Kong SAR ($X per ton), while Cyprus ($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 (+5.7%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports in Asia

In 2021, the amount of medicaments containing vitamins and provitamins imported in Asia soared to X tons, increasing by 23% against 2020. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +59.0% against 2014 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by South Korea (X tons), Japan (X tons), Saudi Arabia (X tons), Vietnam (X tons), the Philippines (X tons) and the United Arab Emirates (X tons) were the major importers of medicaments containing vitamins and provitamins, together comprising 59% of total imports. Hong Kong SAR (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons), Uzbekistan (X tons), Iraq (X tons) and Myanmar (X tons) held a little share of total imports.

Imports into China increased at an average annual rate of +11.9% from 2012 to 2021. At the same time, Iraq (+18.5%), the United Arab Emirates (+16.1%), South Korea (+12.3%), Uzbekistan (+9.9%), the Philippines (+7.9%), Taiwan (Chinese) (+7.8%), Myanmar (+6.3%), Hong Kong SAR (+3.8%), Kazakhstan (+3.7%) and Vietnam (+2.4%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in Asia, with a CAGR of +18.5% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Saudi Arabia (-5.5%) illustrated a downward trend over the same period. China (+8 p.p.), South Korea (+4 p.p.), Uzbekistan (+3.2 p.p.), the United Arab Emirates (+3 p.p.) and Iraq (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, Japan and Saudi Arabia saw its share reduced by -1.6%, -5.2% and -11.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported medicaments containing vitamins and provitamins in Asia, comprising 21% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 9.4% share of total imports. It was followed by Saudi Arabia, with a 7.8% share.

In China, medicaments containing vitamins imports expanded at an average annual rate of +8.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (+5.4% per year) and Saudi Arabia (-1.5% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 5.1% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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