Azerbaijan: Organ Extracts Market 2024

Organ Extracts Market Size in Azerbaijan

In 2021, the Azerbaijani organ extracts market increased by 3.7% to $X, rising for the fifth consecutive year after three years of decline. Over the period under review, consumption enjoyed a significant expansion. Organ extracts consumption peaked in 2021 and is expected to retain growth in years to come.

Organ Extracts Production in Azerbaijan

In value terms, organ extracts production rose remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 42%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Organ Extracts Exports

Exports from Azerbaijan

Organ extracts exports from Azerbaijan fell significantly to X kg in 2021, declining by -71.1% against the previous year. In general, exports faced a sharp downturn. The most prominent rate of growth was recorded in 2015 with an increase of 454% against the previous year. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, organ extracts exports declined rapidly to $X in 2021. Over the period under review, exports recorded a sharp setback. The pace of growth appeared the most rapid in 2015 when exports increased by 414%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X kg), the Netherlands (X kg) and Canada (X kg) were the main destinations of organ extracts exports from Azerbaijan, together accounting for 77% of total exports. Moreover, organ extracts exports in Germany exceeded the figures recorded by the second-largest exporter, the Netherlands, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), Germany ($X) and Canada ($X) were the largest markets for organ extracts exported from Azerbaijan worldwide, together accounting for 50% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of 0.0%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average organ extracts export price amounted to $X per ton, increasing by 188% against the previous year. Overall, the export price showed notable growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-7.0%).

Organ Extracts Imports

Imports into Azerbaijan

In 2021, after two years of growth, there was significant decline in supplies from abroad of extracts of glands or other organs or of their secretions, when their volume decreased by -16.1% to X kg. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,667% against the previous year. Over the period under review, imports attained the peak figure at X kg in 2020, and then shrank remarkably in the following year.

In value terms, organ extracts imports skyrocketed to $X in 2021. Over the period under review, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 1,944% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Georgia (X kg), Russia (X kg) and the United States (X kg) were the main suppliers of organ extracts imports to Azerbaijan, with a combined 99% share of total imports.

From 2016 to 2021, the biggest increases were recorded for Russia (with a CAGR of +191.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest organ extracts suppliers to Azerbaijan were Georgia ($X), the United States ($X) and Russia ($X), with a combined 89% share of total imports.

Among the main suppliers, Russia, with a CAGR of +185.0%, saw 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 average organ extracts import price stood at $X per ton in 2021, growing by 51% against the previous year. Overall, the import price recorded resilient growth. The growth pace was the most rapid in 2018 when the average import price increased by 63% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2016 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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