Eastern Asia: Pyrethrum And Peppermint Market 2025

Pyrethrum And Peppermint Market Size in Eastern Asia

For the sixth year in a row, the East Asian pyrethrum and peppermint market recorded growth in sales value, which increased by 4.4% to $X in 2021. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +47.1% against 2015 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the near future.

Pyrethrum And Peppermint Production in Eastern Asia

In value terms, pyrethrum and peppermint production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 32% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank modestly in the following year.

Pyrethrum And Peppermint Exports

Exports in Eastern Asia

Pyrethrum and peppermint exports dropped to X tons in 2021, falling by -2.7% on the previous year's figure. Overall, exports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2013 when exports increased by 22% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pyrethrum and peppermint exports stood at $X in 2021. The total export value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, recording X tons, which was near 96% of total exports in 2021. Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the pyrethrum and peppermint exports, with a CAGR of -2.4% from 2012 to 2021. Hong Kong SAR (-8.1%) illustrated a downward trend over the same period. China (+3.9 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -1.9% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest pyrethrum and peppermint supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +2.0%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 7.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 an increase of 18%. Over the period under review, the export prices attained the peak figure in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%).

Pyrethrum And Peppermint Imports

Imports in Eastern Asia

In 2021, after three years of growth, there was decline in overseas purchases of pyrethrum and peppermint, when their volume decreased by -0.9% to X tons. Overall, imports showed a noticeable reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 14% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 21% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China was the major importer of pyrethrum and peppermint in Eastern Asia, with the volume of imports recording X tons, which was near 45% of total imports in 2021. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons). All these countries together held near 53% share of total imports.

China was also the fastest-growing in terms of the pyrethrum and peppermint imports, with a CAGR of +2.2% from 2012 to 2021. Japan and South Korea experienced a relatively flat trend pattern. Taiwan (Chinese) (-6.3%) and Hong Kong SAR (-11.4%) illustrated a downward trend over the same period. While the share of China (+15 p.p.), Japan (+3 p.p.) and South Korea (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-5.2 p.p.) and Hong Kong SAR (-15.9 p.p.) displayed negative dynamics.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 67% of total imports. Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further 30%.

Taiwan (Chinese), with a CAGR of +5.6%, saw 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 more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.4%. The pace of growth was the most pronounced in 2014 when the import price increased by 21%. Over the period under review, import prices reached the maximum in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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