Eastern Asia: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Eastern Asia

In 2021, the East Asian veterinary medicine vaccines market decreased by -3.6% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +3.8% 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 dropped slightly in the following year.

Veterinary Medicine Vaccines Production in Eastern Asia

In value terms, veterinary medicine vaccines production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 19%. Over the period under review, production attained the maximum level at $X in 2020, and then declined in the following year.

Veterinary Medicine Vaccines Exports

Exports in Eastern Asia

In 2021, veterinary medicine vaccines exports in Eastern Asia surged to X tons, rising by 17% compared with the year before. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +43.7% against 2016 indices. The growth pace was the most rapid in 2019 when exports increased by 27% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, veterinary medicine vaccines exports surged to $X in 2021. In general, exports showed a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 23% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, China (X tons) represented the key exporter of vaccines for veterinary medicine, achieving 53% of total exports. South Korea (X tons) held a 35% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (7.7%). Hong Kong SAR (X tons) and Japan (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by South Korea (with a CAGR of +16.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest veterinary medicine vaccines supplying countries in Eastern Asia were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 89% share of total exports.

Taiwan (Chinese), with a CAGR of +20.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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, therefore, remained relatively stable against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2013 when the export price increased by 14%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: 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) (+12.6%), while the other leaders experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports in Eastern Asia

In 2021, the amount of vaccines for veterinary medicine imported in Eastern Asia skyrocketed to X tons, growing by 16% compared with the previous year. The total import volume increased at an average annual rate of +2.9% over the period 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 when imports increased by 29%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, veterinary medicine vaccines imports surged to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.1% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 46%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) represented the largest importer of vaccines for veterinary medicine, committing 61% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together committing a 37% share of total imports. Hong Kong SAR (X tons) took a relatively small share of total imports.

China was also the fastest-growing in terms of the vaccines for veterinary medicine imports, with a CAGR of +5.6% from 2012 to 2021. At the same time, Japan (+4.2%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-3.3%) and Hong Kong SAR (-9.4%) illustrated a downward trend over the same period. China (+13 p.p.) and Japan (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR, South Korea and Taiwan (Chinese) saw its share reduced by -4.2%, -5.1% and -5.6% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported vaccines for veterinary medicine in Eastern Asia, comprising 70% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 9.4% share of total imports. It was followed by Japan, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +10.0%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.7% per year) and Japan (-0.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 4.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2020 when the import price increased by 20% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while Japan ($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 (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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