Asia-Pacific: Organ Extracts Market 2024

Organ Extracts Market Size in Asia-Pacific

In 2021, the Asia-Pacific organ extracts market increased by 8.9% to $X for the first time since 2016, thus ending a four-year declining trend. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Organ Extracts Production in Asia-Pacific

In value terms, organ extracts production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 21% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Organ Extracts Exports

Exports in Asia-Pacific

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were exported in Asia-Pacific; which is down by -24.5% compared with the year before. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 161%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, organ extracts exports contracted notably to $X in 2021. Overall, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 67%. The level of export peaked at $X in 2020, and then shrank notably in the following year.

Exports by Country

Australia represented the main exporting country with an export of around X tons, which amounted to 60% of total exports. India (X tons) ranks second in terms of the total exports with a 12% share, followed by China (9.4%) and New Zealand (8.9%). Japan (X tons) and Hong Kong SAR (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to organ extracts exports from Australia stood at +1.4%. At the same time, New Zealand (+22.7%), Hong Kong SAR (+22.2%) and Japan (+20.6%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +22.7% from 2012-2021. India experienced a relatively flat trend pattern. By contrast, China (-7.4%) illustrated a downward trend over the same period. While the share of New Zealand (+7.4 p.p.), Australia (+4.7 p.p.), Japan (+3 p.p.) and Hong Kong SAR (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-1.7 p.p.) and China (-10.4 p.p.) displayed negative dynamics.

In value terms, the largest organ extracts supplying countries in Asia-Pacific were China ($X), Japan ($X) and Australia ($X), together comprising 92% of total exports.

Japan, with a CAGR of +21.0%, saw the highest growth rate of the value of exports, in terms of the main exporting countries 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-Pacific amounted to $X per ton, with an increase of 11% against the previous year. In general, the export price recorded strong growth. The pace of growth was the most pronounced in 2015 when the export price increased by 117%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see steady growth in the near future.

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 Australia (+16.7%), while the other leaders experienced more modest paces of growth.

Organ Extracts Imports

Imports in Asia-Pacific

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were imported in Asia-Pacific; which is down by -23.4% against the year before. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when imports increased by 83% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, organ extracts imports fell modestly to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 76%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan represented the largest importer of extracts of glands or other organs or of their secretions in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 48% of total imports in 2021. South Korea (X tons) ranks second in terms of the total imports with a 10% share, followed by Thailand (7.9%), Australia (6.9%), Vietnam (6.3%) and Indonesia (5.1%). Hong Kong SAR (X tons) held a minor 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, Australia (+13.5%), Vietnam (+6.1%) and Thailand (+2.8%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.5% from 2012-2021. By contrast, Indonesia (-6.7%), South Korea (-20.5%) and Hong Kong SAR (-24.4%) illustrated a downward trend over the same period. While the share of Japan (+38 p.p.), Australia (+5.7 p.p.), Thailand (+4.7 p.p.) and Vietnam (+4.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-20.8 p.p.) and South Korea (-31 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, with a combined 61% share of total imports. These countries were followed by Hong Kong SAR, Vietnam, Indonesia and Thailand, which together accounted for a further 20%.

Among the main importing countries, Vietnam, with a CAGR of +35.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 24% against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, organ extracts import price increased by +18.7% against 2018 indices. The pace of growth was the most pronounced in 2013 when the import price increased by 63%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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 ($X per ton), while Thailand ($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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