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

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

The Iranian market for colouring matter of vegetable or animal origin was finally on the rise to reach $X in 2021, after three years of decline. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.2% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in Iran

In value terms, vegetable or animal colouring matter production soared to $X in 2021 estimated in export price. Overall, production posted a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 36%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Iran

In 2021, the amount of colouring matter of vegetable or animal origin exported from Iran soared to X tons, growing by 922% against the year before. Over the period under review, exports continue to indicate a resilient expansion. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, vegetable or animal colouring matter exports skyrocketed to $X in 2021. In general, exports showed a notable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 618%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for vegetable or animal colouring matter exports from Iran, with a 40% share of total exports. Moreover, vegetable or animal colouring matter exports to Malaysia exceeded the volume sent to the second major destination, Germany (X tons), twofold. China (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+13.7% per year) and China (0.0% per year).

In value terms, Germany ($X), China ($X) and Malaysia ($X) were the largest markets for vegetable or animal colouring matter exported from Iran worldwide, with a combined 48% share of total exports.

Germany, with a CAGR of +8.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, which is down by -33.3% against the previous year. In general, the export price recorded a deep contraction. The pace of growth appeared the most rapid in 2016 an increase of 473%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat 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 Norway ($X per ton), while the average price for exports to Malaysia ($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 Afghanistan (+50.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Iran

After two years of growth, overseas purchases of colouring matter of vegetable or animal origin decreased by -15.1% to X tons in 2021. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 114% against the previous year. As a result, imports reached the peak of X tons, and then dropped sharply in the following year.

In value terms, vegetable or animal colouring matter imports surged to $X in 2021. Over the period under review, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 72% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Denmark (X tons), India (X tons) and France (X tons) were the main suppliers of vegetable or animal colouring matter imports to Iran, with a combined 56% share of total imports. These countries were followed by Italy, Turkey, Bulgaria and Peru, which together accounted for a further 5.7%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +66.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Iran, comprising 39% of total imports. The second position in the ranking was taken by France ($X), with a 3.5% share of total imports. It was followed by Italy, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value from Denmark totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+15.4% per year) and Italy (-8.4% 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, with an increase of 102% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($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 Arab Emirates (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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