Asia: Market for Colouring Matter Of Vegetable Or Animal Origin 2022

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Asia

The Asian market for colouring matter of vegetable or animal origin expanded to $X in 2021, with an increase of 3.3% against the previous year. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.1% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Colouring Matter Of Vegetable Or Animal Origin in Asia

In value terms, vegetable or animal colouring matter production reached $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 32% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports in Asia

Vegetable or animal colouring matter exports reduced modestly to X tons in 2021, remaining relatively unchanged against 2020 figures. In general, exports, however, recorded a resilient increase. The growth pace was the most rapid in 2015 with an increase of 92% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, vegetable or animal colouring matter exports expanded modestly to $X in 2021. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 149%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the main exporting country with an export of about X tons, which finished at 60% of total exports. Israel (X tons) ranks second in terms of the total exports with an 11% share, followed by India (9.2%), Japan (6.9%) and Turkey (4.6%). Thailand (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the colouring matter of vegetable or animal origin exports, with a CAGR of +45.6% from 2012 to 2021. At the same time, Turkey (+25.7%), Israel (+13.5%), Thailand (+6.8%) and India (+4.3%) displayed positive paces of growth. By contrast, Japan (-1.8%) illustrated a downward trend over the same period. China (+54 p.p.), Turkey (+3.1 p.p.) and Israel (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while India and Japan saw its share reduced by -7.4% and -14.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vegetable or animal colouring matter supplier in Asia, comprising 68% of total exports. The second position in the ranking was taken by Israel ($X), with a 12% share of total exports. It was followed by India, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +36.4%. In the other countries, the average annual rates were as follows: Israel (+13.4% per year) and India (+8.7% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 4% against the previous year. Export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter export price increased by +19.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 29%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.7%), while the other leaders experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports in Asia

In 2021, the amount of colouring matter of vegetable or animal origin imported in Asia skyrocketed to X tons, rising by 18% compared with 2020. Total imports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.9% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 37% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, vegetable or animal colouring matter imports skyrocketed to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.1% 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 +50.4% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), distantly followed by South Korea (X tons), Vietnam (X tons), Turkey (X tons), India (X tons) and China (X tons) represented the largest importers of colouring matter of vegetable or animal origin, together comprising 63% of total imports. The following importers - Thailand (X tons), Taiwan (Chinese) (X tons), Bangladesh (X tons), Malaysia (X tons), Israel (X tons), Indonesia (X tons) and the United Arab Emirates (X tons) - together made up 21% of total imports.

From 2012 to 2021, average annual rates of growth with regard to vegetable or animal colouring matter imports into Japan stood at +2.7%. At the same time, South Korea (+13.0%), Taiwan (Chinese) (+10.8%), the United Arab Emirates (+10.6%), Turkey (+8.9%), Indonesia (+6.7%), Vietnam (+5.4%), Bangladesh (+2.3%) and Israel (+1.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +13.0% from 2012-2021. By contrast, Thailand (-1.2%), Malaysia (-3.1%), China (-5.9%) and India (-7.0%) illustrated a downward trend over the same period. South Korea (+6.7 p.p.), Turkey (+3.5 p.p.), Vietnam (+2.3 p.p.), Taiwan (Chinese) (+1.9 p.p.) and Japan (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while China and India saw its share reduced by -6.6% and -8.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported colouring matter of vegetable or animal origin in Asia, comprising 38% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by China, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan amounted to +14.2%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+15.2% per year) and China (+1.7% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with an increase of 21% against the previous year. Import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vegetable or animal colouring matter import price increased by +57.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 29% against the previous year. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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