Eastern Asia: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Eastern Asia

The East Asian lucerne meal and pellets market contracted slightly to $X in 2022, falling by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Lucerne (Alfalfa) Meal And Pellets in Eastern Asia

In value terms, lucerne meal and pellets production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports in Eastern Asia

In 2022, overseas shipments of lucerne (alfalfa) meal and pellets decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a sharp contraction. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, lucerne meal and pellets exports dropped to $X in 2022. Over the period under review, exports faced a sharp decline. The growth pace was the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan was the largest exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by Hong Kong SAR (X tons), committing a X% share of total exports.

Exports from Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, Hong Kong SAR (X%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Japan and Hong Kong SAR increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest lucerne meal and pellets supplying countries in Eastern Asia were Japan ($X) and Hong Kong SAR ($X).

In terms of the main exporting countries, Hong Kong SAR, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lucerne meal and pellets export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%).

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports in Eastern Asia

In 2022, imports of lucerne (alfalfa) meal and pellets in Eastern Asia totaled X tons, approximately equating the previous year. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, lucerne meal and pellets imports skyrocketed to $X in 2022. In general, imports continue to indicate a mild expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan was the largest importer of lucerne (alfalfa) meal and pellets in Eastern Asia, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. China (X tons) ranks second in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%) and South Korea (X%).

Imports into Japan decreased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%) and South Korea (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported lucerne (alfalfa) meal and pellets in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by China, with a X% share.

In Japan, lucerne meal and pellets imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :