Southern Asia: Biological Product Market 2024

Biological Product Market Size in Southern Asia

The South Asian biological product market shrank to $X in 2023, remaining stable against the previous year. Over the period under review, consumption, however, recorded a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Biological Product Production in Southern Asia

In value terms, biological product production amounted to $X in 2023 estimated in export price. Over the period under review, production recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

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Biological Product Exports

Exports in Southern Asia

In 2023, approx. X tons of biological products were exported in Southern Asia; picking up by X% on 2022. Overall, exports, however, saw a mild slump. The growth pace was the most rapid in 2021 when exports increased by 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 shrank modestly to $X in 2023. In general, exports posted a modest increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

India dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. Sri Lanka (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of biological products. At the same time, Sri Lanka (X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. While the share of India (X p.p.) and Sri Lanka (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest biological product supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in India amounted to X%.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, reducing by X% against the previous year. Export price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, biological product export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was India ($X per ton), while Sri Lanka amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%).

Biological Product Imports

Imports in Southern Asia

In 2023, imports of biological products in Southern Asia declined notably to X tons, reducing by X% on 2022. Overall, imports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, biological product imports reduced markedly to $X in 2023. In general, imports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

India was the main importer of biological products in Southern Asia, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. Nepal (X tons) took the second position in the ranking, distantly followed by Bangladesh (X tons), Afghanistan (X tons) and Sri Lanka (X tons). All these countries together took near X% share of total imports. Pakistan (X tons) held a relatively small share of total imports.

India was also the fastest-growing in terms of the biological products imports, with a CAGR of X% from 2012 to 2023. At the same time, Afghanistan (X%), Nepal (X%) and Sri Lanka (X%) displayed positive paces of growth. By contrast, Bangladesh (X%) and Pakistan (X%) illustrated a downward trend over the same period. While the share of India (X p.p.), Nepal (X p.p.), Afghanistan (X p.p.), Sri Lanka (X p.p.) and Bangladesh (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Pakistan (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported biological products in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Nepal ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

In India, biological product imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (X% per year) and Bangladesh (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a strong expansion. The pace of growth was the most pronounced in 2022 when the import price increased by X%. The level of import peaked in 2023 and is likely to see gradual growth in the near future.

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

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

Source: IndexBox Platform