Thailand: Organ Extracts Market 2024

Organ Extracts Market Size in Thailand

The Thai organ extracts market skyrocketed to $X in 2021, jumping by 188% 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). Over the period under review, consumption saw a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Organ Extracts Exports

Exports from Thailand

In 2021, after five years of decline, there was significant growth in overseas shipments of extracts of glands or other organs or of their secretions, when their volume increased by 10% to X tons. Over the period under review, exports, however, continue to indicate a sharp contraction. The pace of growth was the most pronounced in 2013 with an increase of 685%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, organ extracts exports skyrocketed to $X in 2021. Overall, exports, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of 589%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for organ extracts exports from Thailand, accounting for a 61% share of total exports. Moreover, organ extracts exports to the United States exceeded the volume sent to the second major destination, Malaysia (X kg), twofold. Germany (X kg) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+1.6% per year) and Germany (+32.2% per year).

In value terms, the United States ($X) remains the key foreign market for extracts of glands or other organs or of their secretions exports from Thailand, comprising 85% of total exports. The second position in the ranking was held by Malaysia ($X), with a 7.5% share of total exports. It was followed by Switzerland, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +248.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-0.3% per year) and Switzerland (+84.0% per year).

Export Prices by Country

The average organ extracts export price stood at $X per ton in 2021, surging by 6.7% against the previous year. Over the period under review, the export price posted a significant increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 233%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Cambodia ($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 Canada (+46.7%), while the prices for the other major destinations experienced more modest paces of growth.

Organ Extracts Imports

Imports into Thailand

In 2021, after three years of decline, there was significant growth in overseas purchases of extracts of glands or other organs or of their secretions, when their volume increased by 115% to X tons. In general, imports enjoyed perceptible growth. The pace of growth was the most pronounced in 2017 when imports increased by 123%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, organ extracts imports surged to $X in 2021. Overall, imports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 118%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) was the main organ extracts supplier to Thailand, accounting for a 93% share of total imports. It was followed by Denmark (X kg), with a 2.9% share of total imports. The United States (X kg) ranked third in terms of total imports with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from Italy stood at +96.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+38.5% per year) and the United States (+31.7% per year).

In value terms, the largest organ extracts suppliers to Thailand were Denmark ($X), Italy ($X) and South Korea ($X), with a combined 97% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +786.3%, recorded the highest growth rate of 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

The average organ extracts import price stood at $X per ton in 2021, which is down by -10.5% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average import price increased by 91%. The import price peaked at $X per ton in 2014; however, from 2015 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 Denmark ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+63.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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