Asia: Biological Product Market 2024

Biological Product Market Size in Asia

The Asian biological product market fell modestly to $X in 2023, approximately equating the previous year. Over the period under review, consumption saw a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2022, and then shrank slightly in the following year.

Biological Product Production in Asia

In value terms, biological product production declined slightly to $X in 2023 estimated in export price. In general, production enjoyed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2023, production growth failed to regain momentum.

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Biological Product Exports

Exports in Asia

In 2023, exports of biological products in Asia expanded rapidly to X tons, growing by X% compared with the previous year's figure. Overall, exports saw a pronounced expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, biological product exports stood at $X in 2023. In general, exports continue to indicate a strong increase. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, South Korea (X tons), distantly followed by China (X tons), Turkey (X tons) and India (X tons) were the largest exporters of biological products, together generating X% of total exports. The following exporters - the United Arab Emirates (X tons), Japan (X tons), Jordan (X tons), Iran (X tons), Indonesia (X tons), Singapore (X tons), Vietnam (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) remains the largest biological product supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with an X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2023, the average annual growth rate of value in South Korea totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X,222 per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Biological Product Imports

Imports in Asia

In 2023, imports of biological products in Asia reached X tons, remaining relatively unchanged against the previous year. In general, imports recorded a noticeable expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, biological product imports declined to $X in 2023. Overall, imports posted strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons) and Vietnam (X tons) were the main importers of biological products in 2023, recording approx. X% and X% of total imports, respectively. South Korea (X tons) ranks next in terms of the total imports with an X% share, followed by the Philippines (X%), Malaysia (X%), Japan (X%) and Brunei Darussalam (X%). Turkey (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), India (X tons), Iraq (X tons) and Saudi Arabia (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Brunei Darussalam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports. Taiwan (Chinese), Turkey, Saudi Arabia, Iraq, the Philippines, India, Vietnam, Indonesia, Malaysia and Brunei Darussalam lagged somewhat behind, together comprising a further X%.

Brunei Darussalam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the import price, however, recorded a strong increase. The pace of growth appeared the most rapid in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X,331 per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform