Eastern Asia: Biological Product Market 2024

Biological Product Market Size in Eastern Asia

The East Asian biological product market expanded rapidly to $X in 2022, increasing by X% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2014 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Biological Product Production in Eastern Asia

In value terms, biological product production expanded notably to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Biological Product Exports

Exports in Eastern Asia

In 2022, shipments abroad of biological products decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, biological product exports reduced markedly to $X in 2022. Over the period under review, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

China dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by South Korea (X tons), creating a X% share of total exports.

China was also the fastest-growing in terms of the biological products exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) displayed negative dynamics.

In value terms, South Korea ($X) emerged as the largest biological product supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Korea totaled X%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, continues to indicate a noticeable slump. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%).

Biological Product Imports

Imports in Eastern Asia

In 2022, after ten years of growth, there was significant decline in purchases abroad of biological products, when their volume decreased by X% to X tons. Overall, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, biological product imports dropped markedly to $X in 2022. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell notably in the following year.

Imports by Country

China (X tons) and Taiwan (Chinese) (X tons) were the largest importers of biological products in 2022, accounting for near X% and X% of total imports, respectively. Japan (X tons) ranks next in terms of the total imports with a X% share, followed by South Korea (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. These countries were followed by Taiwan (Chinese), which accounted for a further X%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the import price in Eastern Asia amounted to $X,911 per ton, falling by X% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product import price increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of import peaked at $X,221 per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X,645 per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :