Vietnam: Organ Extracts Market 2024

Organ Extracts Market Size in Vietnam

In 2021, the Vietnamese organ extracts market increased by 27% to $X, rising for the third consecutive year after three years of decline. Overall, consumption, however, enjoyed significant growth. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Organ Extracts Exports

Exports from Vietnam

In 2021, overseas shipments of extracts of glands or other organs or of their secretions increased by 45% to X kg, rising for the second year in a row after three years of decline. In general, exports, however, saw a dramatic setback. The pace of growth was the most pronounced in 2016 with an increase of 6,457%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, organ extracts exports soared to $X in 2021. Overall, exports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2016 when exports increased by 9,043% against the previous year. 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

Canada (X kg), the Netherlands (X kg) and Switzerland (X kg) were the main destinations of organ extracts exports from Vietnam, with a combined 67% share of total exports. These countries were followed by Belgium, Germany and France, which together accounted for a further 2.2%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, Switzerland ($X) remains the key foreign market for extracts of glands or other organs or of their secretions exports from Vietnam, comprising 91% of total exports. The second position in the ranking was held by China ($X), with an 8.3% share of total exports. It was followed by the Netherlands, with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland stood at +35.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.6% per year) and the Netherlands (-25.1% per year).

Export Prices by Country

The average organ extracts export price stood at $X per ton in 2021, surging by 81% against the previous year. Over the period under review, the export price recorded a significant increase. The most prominent rate of growth was recorded in 2020 an increase of 157% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Canada ($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 Switzerland (+111.0%), while the prices for the other major destinations experienced mixed trend patterns.

Organ Extracts Imports

Imports into Vietnam

For the third consecutive year, Vietnam recorded growth in purchases abroad of extracts of glands or other organs or of their secretions, which increased by 0.3% to X tons in 2021. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 617% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, organ extracts imports skyrocketed to $X in 2021. In general, imports recorded significant growth. The pace of growth was the most pronounced in 2015 with an increase of 1,013%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United States (X tons) constituted the largest organ extracts supplier to Vietnam, with a 46% share of total imports. Moreover, organ extracts imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Denmark (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.9% per year) and Denmark (-10.8% per year).

In value terms, the UK ($X), Denmark ($X) and Brazil ($X) constituted the largest organ extracts suppliers to Vietnam, with a combined 16% share of total imports.

Among the main suppliers, the UK, with a CAGR of +107.1%, saw 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

In 2021, the average organ extracts import price amounted to $X per ton, growing by 60% against the previous year. Over the period under review, the import price enjoyed significant growth. The growth pace was the most rapid in 2020 when the average import price increased by 168% against the previous year. The import price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($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 UK (+94.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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