Indonesia: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Indonesia

The Indonesian market for colouring matter of vegetable or animal origin soared to $X in 2021, picking up by 47% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Indonesia

In 2021, the amount of colouring matter of vegetable or animal origin exported from Indonesia reduced notably to X tons, which is down by -21.6% compared with 2020. Overall, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2019 when exports increased by 429%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable or animal colouring matter exports reduced sharply to $X in 2021. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 323% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru (X tons), Timor-Leste (X tons) and Malaysia (X tons) were the main destinations of vegetable or animal colouring matter exports from Indonesia, together comprising 68% of total exports. These countries were followed by the Netherlands, Hong Kong SAR, Singapore, Mauritius, the United States, China and Japan, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +187.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vegetable or animal colouring matter exported from Indonesia were Peru ($X), the Netherlands ($X) and Timor-Leste ($X), with a combined 45% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +248.7%, saw the highest rates of growth with regard to 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 average export price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, falling by -27.9% against the previous year. Over the period under review, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter export price decreased by -44.8% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 68% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+36.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Indonesia

For the fourth year in a row, Indonesia recorded growth in overseas purchases of colouring matter of vegetable or animal origin, which increased by 41% to X tons in 2021. Overall, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vegetable or animal colouring matter imports soared to $X in 2021. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 64% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Denmark (X tons) constituted the largest vegetable or animal colouring matter supplier to Indonesia, accounting for a 54% share of total imports. Moreover, vegetable or animal colouring matter imports from Denmark exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. China (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Denmark stood at +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.2% per year) and China (+2.7% per year).

In value terms, Denmark ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Indonesia, comprising 57% of total imports. The second position in the ranking was held by India ($X), with a 9.2% share of total imports. It was followed by the UK, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Denmark amounted to +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+30.2% per year) and the UK (-1.5% per year).

Import Prices by Country

In 2021, the average import price for colouring matter of vegetable or animal origin amounted to $X per ton, dropping by -11.8% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter import price decreased by -22.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 60%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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