Eastern Asia: Organ Extracts Market 2024

Organ Extracts Market Size in Eastern Asia

The East Asian organ extracts market surged to $X in 2021, picking up by 22% against the previous year. Over the period under review, consumption recorded a perceptible curtailment. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Organ Extracts Production in Eastern Asia

In value terms, organ extracts production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 23% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Organ Extracts Exports

Exports in Eastern Asia

In 2021, organ extracts exports in Eastern Asia declined remarkably to X tons, shrinking by -35.8% against the year before. Overall, exports saw a noticeable contraction. The growth pace was the most rapid in 2017 when exports increased by 103%. Over the period under review, the exports hit record highs at X tons in 2020, and then shrank notably in the following year.

In value terms, organ extracts exports dropped sharply to $X in 2021. In general, exports, however, showed a prominent increase. The growth pace was the most rapid in 2020 when exports increased by 98%. As a result, the exports attained the peak of $X, and then dropped rapidly in the following year.

Exports by Country

China represented the major exporting country with an export of about X tons, which resulted at 59% of total exports. It was distantly followed by Japan (X tons), Hong Kong SAR (X tons) and South Korea (X tons), together achieving a 41% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to organ extracts exports from China stood at -7.4%. At the same time, Hong Kong SAR (+22.2%) and Japan (+20.6%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +22.2% from 2012-2021. By contrast, South Korea (-7.2%) illustrated a downward trend over the same period. While the share of Japan (+20 p.p.) and Hong Kong SAR (+10 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-2.6 p.p.) and China (-27.4 p.p.) displayed negative dynamics.

In value terms, the largest organ extracts supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 100% share of total exports.

In terms of the main exporting countries, Japan, with a CAGR of +21.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 21% against the previous year. Overall, the export price saw a strong increase. The growth pace was the most rapid in 2014 an increase of 140%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the other leaders experienced mixed trends in the export price figures.

Organ Extracts Imports

Imports in Eastern Asia

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 -33.8% to X tons. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 100% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, organ extracts imports shrank markedly to $X in 2021. In general, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 102% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Japan was the key importing country with an import of about X tons, which accounted for 76% of total imports. South Korea (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (6.2%).

Japan was also the fastest-growing in terms of the extracts of glands or other organs or of their secretions imports, with a CAGR of +10.8% from 2012 to 2021. South Korea (-20.5%) and Hong Kong SAR (-24.4%) illustrated a downward trend over the same period. Japan (+64 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and South Korea saw its share reduced by -25.2% and -36% from 2012 to 2021, respectively.

In value terms, South Korea ($X), Japan ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 80% of total imports.

Hong Kong SAR, with a CAGR of +8.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 28% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, organ extracts import price increased by +36.3% against 2018 indices. The growth pace was the most rapid in 2013 when the import price increased by 64% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+42.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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