Indonesia: Biological Product Market 2024

Biological Product Market Size in Indonesia

In 2022, the Indonesian biological product market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, showed buoyant growth. Over the period under review, the market reached the peak level at $X in 2021, and then declined sharply in the following year.

Biological Product Production in Indonesia

In value terms, biological product production contracted markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Biological Product Exports

Exports from Indonesia

In 2022, the amount of biological products exported from Indonesia shrank significantly to X tons, falling by X% on the year before. Over the period under review, exports saw a abrupt downturn. The growth pace was the most rapid in 2015 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, biological product exports shrank rapidly to $X in 2022. Overall, exports faced a sharp decrease. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons), Malaysia (X tons) and the Philippines (X tons) were the main destinations of biological product exports from Indonesia, together comprising X% of total exports.

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

In value terms, South Korea ($X) emerged as the key foreign market for biological products exports from Indonesia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual growth rate of value to South Korea totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the average biological product export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price saw a abrupt decrease. The growth pace was the most rapid in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into Indonesia

In 2022, after three years of growth, there was significant decline in purchases abroad of biological products, when their volume decreased by X% to X tons. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, biological product imports contracted significantly to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

The United States (X tons), Germany (X tons) and Switzerland (X tons) were the main suppliers of biological product imports to Indonesia, with a combined X% share of total imports. Austria, Canada, China, India, Spain, Italy, France, Belgium, the Netherlands and Mexico lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Austria ($X) and Germany ($X) appeared to be the largest biological product suppliers to Indonesia, together comprising X% of total imports. Switzerland, Canada, India, China, Spain, Italy, Belgium, France, the Netherlands and Mexico lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average biological product import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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