Japan: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Market Size in Japan

The Japanese pyrethrum and peppermint market rose slightly to $X in 2021, increasing by 3.5% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Pyrethrum And Peppermint Production in Japan

In value terms, pyrethrum and peppermint production reached $X in 2021 estimated in export price. Overall, production saw a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 213%. Pyrethrum and peppermint production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Pyrethrum And Peppermint Exports

Exports from Japan

In 2021, the amount of pyrethrum and peppermint exported from Japan fell markedly to X tons, declining by -21.1% on the previous year's figure. Overall, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 226%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pyrethrum and peppermint exports contracted to $X in 2021. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2016 with an increase of 195%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for pyrethrum and peppermint exports from Japan, with a 39% share of total exports. Moreover, pyrethrum and peppermint exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam amounted to +84.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+23.1% per year) and South Korea (+3.7% per year).

In value terms, the largest markets for pyrethrum and peppermint exported from Japan were South Korea ($X), China ($X) and Vietnam ($X), together comprising 51% of total exports. The United States, India, Hong Kong SAR, the United Arab Emirates and Taiwan (Chinese) lagged somewhat behind, together comprising a further 34%.

Among the main countries of destination, India, with a CAGR of +272.6%, recorded 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

In 2021, the average pyrethrum and peppermint export price amounted to $X per ton, surging by 17% against the previous year. Overall, the export price, however, saw a abrupt slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($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 the United States (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into Japan

In 2021, pyrethrum and peppermint imports into Japan fell slightly to X tons, reducing by -2.8% compared with the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 5.7% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, pyrethrum and peppermint imports reached $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 7.4%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pyrethrum and peppermint to Japan, accounting for a 59% share of total imports. Moreover, pyrethrum and peppermint imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. The third position in this ranking was held by Thailand (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.5% per year) and Thailand (-5.8% per year).

In value terms, China ($X) constituted the largest supplier of pyrethrum and peppermint to Japan, comprising 80% of total imports. The second position in the ranking was held by India ($X), with a 4.4% share of total imports. It was followed by Thailand, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.1% per year) and Thailand (-2.8% per year).

Import Prices by Country

The average pyrethrum and peppermint import price stood at $X per ton in 2021, picking up by 7.3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained 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 2021, the country with the highest price was China ($X per ton), while the price for Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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