Azerbaijan: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Azerbaijan

The Azerbaijani market for colouring matter of vegetable or animal origin skyrocketed to $X in 2021, growing by 108% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw significant growth. Vegetable or animal colouring matter consumption peaked in 2021 and is expected to retain growth in the near future.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Azerbaijan

In 2021, overseas shipments of colouring matter of vegetable or animal origin decreased by -96.8% to X kg, falling for the second year in a row after eight years of growth. In general, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 3,217%. Over the period under review, the exports hit record highs at X kg in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, vegetable or animal colouring matter exports contracted rapidly to $X in 2021. Overall, exports, however, enjoyed a pronounced increase. The growth pace was the most rapid in 2016 when exports increased by 2,265%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Georgia (X kg) was the main destination for vegetable or animal colouring matter exports from Azerbaijan, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia amounted to +10.2%.

In value terms, Georgia ($X) also remains the key foreign market for colouring matter of vegetable or animal origin exports from Azerbaijan.

From 2012 to 2021, the average annual rate of growth in terms of value to Georgia stood at +4.8%.

Export Prices by Country

The average export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, surging by 3.5% against the previous year. Overall, the export price, however, continues to indicate a pronounced descent. The pace of growth was the most pronounced in 2020 when the average export price increased by 21%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2012 to 2021, the rate of growth in terms of prices for Georgia amounted to -4.9% per year.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Azerbaijan

In 2021, imports of colouring matter of vegetable or animal origin into Azerbaijan skyrocketed to X tons, with an increase of 121% compared with the previous year's figure. In general, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2015 when imports increased by 384% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, vegetable or animal colouring matter imports soared to $X in 2021. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 362% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest vegetable or animal colouring matter supplier to Azerbaijan, accounting for a 52% share of total imports. Moreover, vegetable or animal colouring matter imports from Ukraine exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. The third position in this ranking was held by Russia (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ukraine totaled +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+34.9% per year) and Russia (+78.0% per year).

In value terms, France ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Azerbaijan, comprising 44% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.6% share of total imports. It was followed by Russia, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+140.2% per year) and Russia (+77.2% per year).

Import Prices by Country

In 2021, the average import price for colouring matter of vegetable or animal origin amounted to $X per ton, falling by -14.4% against the previous year. Overall, the import price, however, recorded buoyant growth. The pace of growth was the most pronounced in 2019 an increase of 155% against the previous year. The import price peaked at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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