Vietnam: Pyrethrum And Peppermint Market 2025

Pyrethrum And Peppermint Market Size in Vietnam

For the third year in a row, the Vietnamese pyrethrum and peppermint market recorded decline in sales value, which decreased by -64% to $X in 2021. Over the period under review, consumption saw a sharp reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Pyrethrum And Peppermint Production in Vietnam

In value terms, pyrethrum and peppermint production expanded slightly to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 5.1%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Pyrethrum And Peppermint Exports

Exports from Vietnam

In 2021, the amount of pyrethrum and peppermint exported from Vietnam skyrocketed to X tons, jumping by 44% against 2020 figures. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 180% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, pyrethrum and peppermint exports skyrocketed to $X in 2021. In general, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 134%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

India (X tons) was the main destination for pyrethrum and peppermint exports from Vietnam, accounting for a 62% share of total exports. Moreover, pyrethrum and peppermint exports to India exceeded the volume sent to the second major destination, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to India stood at +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+59.0% per year) and Indonesia (+73.9% per year).

In value terms, India ($X), China ($X) and Malaysia ($X) constituted the largest markets for pyrethrum and peppermint exported from Vietnam worldwide, with a combined 59% share of total exports. Indonesia and Pakistan lagged somewhat behind, together comprising a further 2.9%.

Among the main countries of destination, Indonesia, with a CAGR of +71.3%, 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

The average pyrethrum and peppermint export price stood at $X per ton in 2021, dropping by -19.9% against the previous year. In general, the export price showed a abrupt decrease. The growth pace was the most rapid in 2013 an increase of 3.7%. As a result, the export price reached the peak level of $X per ton. From 2014 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, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 Pakistan (+6.5%), while the prices for the other major destinations experienced a decline.

Pyrethrum And Peppermint Imports

Imports into Vietnam

In 2021, purchases abroad of pyrethrum and peppermint increased by 141% to X tons, rising for the third consecutive year after five years of decline. In general, imports, however, showed a pronounced descent. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild descent. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest pyrethrum and peppermint supplier to Vietnam, accounting for a 81% share of total imports. Moreover, pyrethrum and peppermint imports from China exceeded the figures recorded by the second-largest supplier, Lao People's Democratic Republic (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (+42.1% per year) and India (-13.7% per year).

In value terms, China ($X) constituted the largest supplier of pyrethrum and peppermint to Vietnam, comprising 85% of total imports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 6.3% share of total imports. It was followed by India, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (+45.6% per year) and India (-12.5% per year).

Import Prices by Country

The average pyrethrum and peppermint import price stood at $X per ton in 2021, with a decrease of -39.8% against the previous year. In general, the import price, however, posted a slight increase. The growth pace was the most rapid in 2017 when the average import price increased by 94%. The import price peaked at $X per ton in 2020, and then dropped remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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