Eastern Asia: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Eastern Asia

In 2021, the East Asian medicaments containing vitamins market decreased by -2.7% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then contracted modestly in the following year.

Medicaments Containing Vitamins Production in Eastern Asia

In value terms, medicaments containing vitamins production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of 16% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Medicaments Containing Vitamins Exports

Exports in Eastern Asia

In 2021, overseas shipments of medicaments containing vitamins and provitamins increased by 3.1% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +40.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 36%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, medicaments containing vitamins exports soared to $X in 2021. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 52%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of about X tons, which recorded 44% of total exports. Japan (X tons) took the second position in the ranking, distantly followed by Hong Kong SAR (X tons) and South Korea (X tons). All these countries together took approx. 52% share of total exports. Taiwan (Chinese) (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +23.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Japan ($X) and China ($X) were the countries with the highest levels of exports in 2021, together accounting for 86% of total exports.

Among the main exporting countries, Hong Kong SAR, with a CAGR of +30.6%, saw the highest growth rate of 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

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 12% against the previous year. Export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins export price increased by +44.8% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 39% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.3%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports in Eastern Asia

In 2021, medicaments containing vitamins imports in Eastern Asia soared to X tons, increasing by 26% compared with 2020. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins imports skyrocketed to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of around X tons, which reached 42% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 20% share, followed by Japan (18%), Hong Kong SAR (10%) and Taiwan (Chinese) (7.7%).

Imports into China increased at an average annual rate of +11.9% from 2012 to 2021. At the same time, South Korea (+12.3%), Taiwan (Chinese) (+7.8%) and Hong Kong SAR (+3.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +12.3% from 2012-2021. Japan experienced a relatively flat trend pattern. China (+14 p.p.) and South Korea (+7 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Japan saw its share reduced by -3.3% and -17.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported medicaments containing vitamins and provitamins in Eastern Asia, comprising 50% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 22% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +8.4%. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+5.4% per year) and South Korea (+4.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, flattening at the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 16% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 Japan (+9.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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