Indonesia and Malaysia Are the Main Suppliers of Raw Materials for Traditional Chinese Medicine
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China's traditional medicine market showed steady growth, rising from 930 thousand tonnes in 2007 to 2,851 thousand tonnes in 2014. In value terms, it expanded with a CAGR of 24%, reaching 14,135 million USD.
In 2014, Indonesia and Malaysia were the main suppliers of raw materials for traditional Chinese medicine with a combined share of 52.8% of China's imports in physical terms. However, the fastest growing suppliers from 2007 to 2014 were Thailand (+59.7% per year) and Germany (+35.7% per year).
From 2007 to 2014, Thailand had the highest growth rates of imports, with a CAGR of 59.7%. It was followed by Germany (+35.7%), Viet Nam (+14.6%), the U.S. (+12.2%) and the Republic of Korea (+11.3%).
In 2014, Japan (12%), Indonesia (10%), the Philippines (10%), Malaysia (7%) and Thailand (6%) were the leading destinations of traditional Chinese medicine exports, together making up 44.8% in physical terms. While the shares of the Philippines and Indonesia increased, the share of Japan displayed negative dynamics.
Source: China: Traditional Chinese Medicine - Market Report. Analysis And Forecast To 2020
