Eastern Asia: Sesame Oil Market 2024

Sesame Oil Market Size in Eastern Asia

The East Asian sesame oil market reached $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 when the market value increased by 7.8%. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Sesame Oil Production in Eastern Asia

In value terms, sesame oil production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 9.4%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Sesame Oil Exports

Exports in Eastern Asia

Sesame oil exports dropped to X tons in 2022, shrinking by -5.2% compared with the previous year. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 12%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, sesame oil exports contracted to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.1% against 2015 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 13% against the previous year. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

The biggest shipments were from Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons), together resulting at 93% of total export. It was distantly followed by South Korea (X tons), generating a 5.5% share of total exports. Hong Kong SAR (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +31.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the largest sesame oil supplier in Eastern Asia, comprising 51% of total exports. The second position in the ranking was held by China ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 17% share.

In Japan, sesame oil exports expanded at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+6.5% per year) and Taiwan (Chinese) (-2.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by 2.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2014 when the export price increased by 17%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.9%), while the other leaders experienced more modest paces of growth.

Sesame Oil Imports

Imports in Eastern Asia

After two years of growth, purchases abroad of sesame oil decreased by -23.5% to X tons in 2022. Over the period under review, imports recorded a mild descent. The pace of growth appeared the most rapid in 2020 when imports increased by 22%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, sesame oil imports shrank significantly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. The level of import peaked at $X in 2021, and then fell notably in the following year.

Imports by Country

Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) dominates imports structure, together comprising 73% of total imports. It was distantly followed by South Korea (X tons) and Japan (X tons), together achieving a 19% share of total imports. China (X tons) and Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of +10.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sesame oil importing markets in Eastern Asia were Hong Kong SAR ($X), Taiwan (Chinese) ($X) and China ($X), with a combined 73% share of total imports.

Taiwan (Chinese), with a CAGR of +13.7%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in Eastern Asia amounted to $X per ton, increasing by 8.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2018 an increase of 17%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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