Vietnam: Albumins And Albuminates Market 2024

Albumins And Albuminates Market Size in Vietnam

In 2021, the Vietnamese albumins and albuminates market increased by 36% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption posted a prominent increase. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Albumins And Albuminates Exports

Exports from Vietnam

In 2021, exports of albumins, albuminates and other derivatives (excluding egg albumin) from Vietnam declined markedly to X kg, waning by -30% on the year before. Over the period under review, exports continue to indicate a slight decline. The pace of growth appeared the most rapid in 2017 with an increase of 158%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, albumins and albuminates exports shrank significantly to $X in 2021. Overall, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 234% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X kg), Singapore (X kg) and Iceland (X kg) were the main destinations of albumins and albuminates exports from Vietnam, together comprising 99% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +70.7%), while the other leaders experienced mixed trend patterns.

In value terms, China ($X) remains the key foreign market for albumins, albuminates and other derivatives (excluding egg albumin) exports from Vietnam, comprising 68% of total exports. The second position in the ranking was taken by Singapore ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China amounted to -9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+79.6% per year) and Iceland (0.0% per year).

Export Prices by Country

In 2021, the average albumins and albuminates export price amounted to $X per ton, picking up by 11% against the previous year. Overall, the export price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2015 an increase of 123% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

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 China ($X per ton), while the average price for exports to Iceland ($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 Singapore (+3.0%), while the prices for the other major destinations experienced a decline.

Albumins And Albuminates Imports

Imports into Vietnam

In 2021, imports of albumins, albuminates and other derivatives (excluding egg albumin) into Vietnam surged to X tons, with an increase of 23% against the previous year. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +10.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.6% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 137% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, albumins and albuminates imports skyrocketed to $X in 2021. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by 203%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of albumins and albuminates to Vietnam, accounting for a 31% share of total imports. Moreover, albumins and albuminates imports from the United States exceeded the figures recorded by the second-largest supplier, Denmark (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+25.0% per year) and Germany (+5.1% per year).

In value terms, the United States ($X) constituted the largest supplier of albumins, albuminates and other derivatives (excluding egg albumin) to Vietnam, comprising 29% of total imports. The second position in the ranking was held by Denmark ($X), with a 14% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+25.4% per year) and Germany (-2.3% per year).

Import Prices by Country

In 2021, the average albumins and albuminates import price amounted to $X per ton, picking up by 17% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 28% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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