Azerbaijan: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Azerbaijan

After four years of growth, the Azerbaijani glycosides and vegetable alkaloids market decreased by -18.4% to $X in 2021. Over the period under review, consumption showed a deep reduction. Glycosides and vegetable alkaloids consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Glycosides And Vegetable Alkaloids in Azerbaijan

In value terms, glycosides and vegetable alkaloids production dropped notably to $X in 2021 estimated in export price. Overall, production saw a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 52%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Glycosides And Vegetable Alkaloids

Exports from Azerbaijan

In 2021, approx. X tons of glycosides and vegetable alkaloids were exported from Azerbaijan; falling by -7.3% against 2020 figures. Over the period under review, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 1,750% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, glycosides and vegetable alkaloids exports contracted to $X in 2021. In general, exports, however, enjoyed modest growth. The pace of growth was the most pronounced in 2016 when exports increased by 1,207% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for glycosides and vegetable alkaloids exports from Azerbaijan, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China stood at +10.7%.

In value terms, China ($X) also remains the key foreign market for glycosides and vegetable alkaloids exports from Azerbaijan.

From 2012 to 2021, the average annual growth rate of value to China totaled +1.2%.

Export Prices by Country

In 2021, the average glycosides and vegetable alkaloids export price amounted to $X per ton, which is down by -2.7% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the average export price increased by 3.7% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -8.6% per year.

Imports of Glycosides And Vegetable Alkaloids

Imports into Azerbaijan

For the fourth year in a row, Azerbaijan recorded growth in purchases abroad of glycosides and vegetable alkaloids, which increased by 398% to X tons in 2021. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 513% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, glycosides and vegetable alkaloids imports expanded notably to $X in 2021. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 1,208% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of glycosides and vegetable alkaloids to Azerbaijan, accounting for a 41% share of total imports. Moreover, glycosides and vegetable alkaloids imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Ukraine (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +81.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+133.9% per year) and Ukraine (+114.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of glycosides and vegetable alkaloids to Azerbaijan, comprising 50% of total imports. The second position in the ranking was held by China ($X), with a 24% share of total imports. It was followed by Ireland, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +113.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+107.2% per year) and Ireland (+80.2% per year).

Import Prices by Country

The average glycosides and vegetable alkaloids import price stood at $X per ton in 2021, which is down by -77.2% against the previous year. In general, the import price, however, showed a mild increase. The most prominent rate of growth was recorded in 2020 an increase of 379%. As a result, import price attained the peak level of $X per ton, and then contracted rapidly 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 China ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+17.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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