Nepal: Vegetable Tanning Extracts Market 2024

Vegetable Tanning Extracts Market Size in Nepal

In 2022, the Nepalese vegetable tanning extracts market decreased by -2.7% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption continues to indicate a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Vegetable Tanning Extracts Production in Nepal

In value terms, vegetable tanning extracts production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 45%. Vegetable tanning extracts production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Vegetable Tanning Extracts Exports

Exports from Nepal

For the third consecutive year, Nepal recorded growth in overseas shipments of tanning extracts of vegetable origin, tannins and their salts other derivatives, which increased by 13% to X tons in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 451%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, vegetable tanning extracts exports amounted to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 981% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

India (X tons) was the main destination for vegetable tanning extracts exports from Nepal, with a 58% share of total exports. Moreover, vegetable tanning extracts exports to India exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at +44.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+43.8% per year) and Pakistan (+46.1% per year).

In value terms, India ($X) remains the key foreign market for tanning extracts of vegetable origin, tannins and their salts other derivatives exports from Nepal, comprising 86% of total exports. The second position in the ranking was held by Pakistan ($X), with an 8.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at +58.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (+73.6% per year) and Bangladesh (+71.5% per year).

Export Prices by Country

The average vegetable tanning extracts export price stood at $X per ton in 2022, shrinking by -6.2% against the previous year. Over the period under review, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 an increase of 151%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Bangladesh ($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 Bangladesh (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Tanning Extracts Imports

Imports into Nepal

In 2022, approx. X tons of tanning extracts of vegetable origin, tannins and their salts other derivatives were imported into Nepal; reducing by -67.4% compared with 2021 figures. Over the period under review, imports faced a significant curtailment. The growth pace was the most rapid in 2014 with an increase of 690% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable tanning extracts imports dropped markedly to $X in 2022. In general, imports showed a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 643%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), Indonesia (X tons) and France (X kg) were the main suppliers of vegetable tanning extracts imports to Nepal, together comprising 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +76.5%), while imports for the other leaders experienced a decline.

In value terms, the largest vegetable tanning extracts suppliers to Nepal were Indonesia ($X), India ($X) and France ($X), together accounting for 61% of total imports.

In terms of the main suppliers, France, with a CAGR of +86.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average vegetable tanning extracts import price stood at $X per ton in 2022, surging by 15% against the previous year. Overall, the import price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 95% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+142.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform