Asia-Pacific: Sesame Oil Market 2024

Sesame Oil Market Size in Asia-Pacific

The Asia-Pacific sesame oil market declined to $X in 2021, dropping by -1.6% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Sesame Oil Production in Asia-Pacific

In value terms, sesame oil production contracted slightly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 10%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Sesame Oil Exports

Exports in Asia-Pacific

In 2021, exports of sesame oil in Asia-Pacific rose notably to X tons, picking up by 6.1% against the previous year. The total export volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 11% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, sesame oil exports rose markedly to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +51.9% against 2015 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

In 2021, Japan (X tons), India (X tons), China (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and Bangladesh (X tons) represented the major exporter of sesame oil in Asia-Pacific, achieving 87% of total export. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Bangladesh (with a CAGR of +28.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the largest sesame oil supplier in Asia-Pacific, comprising 34% of total exports. The second position in the ranking was taken by India ($X), with a 15% share of total exports. It was followed by China, with a 14% share.

In Japan, sesame oil exports expanded at an average annual rate of +7.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+14.7% per year) and China (+8.0% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, standing approx. at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2019 when the export price increased by 9.1% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 (+4.9%), while the other leaders experienced more modest paces of growth.

Sesame Oil Imports

Imports in Asia-Pacific

In 2021, overseas purchases of sesame oil increased by 4.9% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, sesame oil imports rose to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% 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 +51.2% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 25% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Taiwan (Chinese) (X tons), Singapore (X tons), Australia (X tons), Japan (X tons) and Hong Kong SAR (X tons) represented roughly 61% of total imports in 2021. The Philippines (X tons) ranks next in terms of the total imports with a 6.5% share, followed by Indonesia (5.6%) and Vietnam (4.9%). The following importers - Malaysia (X tons), China (X tons), Thailand (X tons), South Korea (X tons) and New Zealand (X tons) - each finished at a 15% share 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 Vietnam (with a CAGR of +19.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Singapore ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2021, together accounting for 40% of total imports.

Indonesia, with a CAGR of +19.1%, recorded the highest rates of growth with regard to 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

The import price in Asia-Pacific stood at $X per ton in 2021, approximately reflecting the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2018 when the import price increased by 17% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020, and then fell slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Indonesia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+20.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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