Asia-Pacific: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Asia-Pacific

In 2021, the Asia-Pacific medicaments containing vitamins market decreased by -1.5% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Medicaments Containing Vitamins Production in Asia-Pacific

In value terms, medicaments containing vitamins production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2020, and then declined slightly in the following year.

Medicaments Containing Vitamins Exports

Exports in Asia-Pacific

In 2021, overseas shipments of medicaments containing vitamins and provitamins increased by 17% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated resilient 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, exports increased by +41.7% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 21%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, medicaments containing vitamins exports rose markedly to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +101.8% against 2013 indices. The growth pace was the most rapid in 2020 with an increase of 27% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

India represented the key exporter of medicaments containing vitamins and provitamins in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 48% of total exports in 2021. Australia (X tons) ranks second in terms of the total exports with a 13% share, followed by China (13%), Japan (8.8%) and Hong Kong SAR (5.2%). The following exporters - Vietnam (X tons) and Indonesia (X tons) - each accounted for a 3.3% 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, Australia (+24.6%), Hong Kong SAR (+23.6%), Japan (+17.4%) and Vietnam (+16.3%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +24.6% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Indonesia (-3.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Australia, Japan and Hong Kong SAR increased by +10, +5.6 and +4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Australia ($X) and Hong Kong SAR ($X) were the countries with the highest levels of exports in 2021, together comprising 63% of total exports.

Among the main exporting countries, Hong Kong SAR, with a CAGR of +30.6%, saw the highest growth rate of 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-Pacific amounted to $X per ton, reducing by -4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2015 an increase of 12%. The level of export peaked at $X per ton in 2020, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($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-Pacific

In 2021, imports of medicaments containing vitamins and provitamins in Asia-Pacific surged to X tons, rising by 16% on the previous year's figure. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins imports rose rapidly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.7% 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 +64.5% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 13% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons), distantly followed by South Korea (X tons), Japan (X tons), Vietnam (X tons), the Philippines (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) represented the largest importers of medicaments containing vitamins and provitamins, together comprising 76% of total imports. The following importers - Australia (X tons), Myanmar (X tons), Thailand (X tons), Cambodia (X tons), Malaysia (X tons) and Afghanistan (X tons) - together made up 19% of total imports.

Imports into China increased at an average annual rate of +11.9% from 2012 to 2021. At the same time, Cambodia (+29.9%), South Korea (+12.3%), the Philippines (+7.9%), Taiwan (Chinese) (+7.8%), Myanmar (+6.3%), Thailand (+5.0%), Afghanistan (+4.5%), Malaysia (+3.8%), Hong Kong SAR (+3.8%) and Vietnam (+2.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +29.9% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Australia (-1.9%) illustrated a downward trend over the same period. While the share of China (+9.9 p.p.), South Korea (+5 p.p.) and Cambodia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-3.2 p.p.), Australia (-4 p.p.) and Japan (-8.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported medicaments containing vitamins and provitamins in Asia-Pacific, comprising 31% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by Vietnam, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +8.4%. In the other countries, the average annual rates were as follows: Hong Kong SAR (+5.4% per year) and Vietnam (+3.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, shrinking by -2.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 9.7%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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