Indonesia and Malaysia Are the Main Suppliers of Raw Materials for Traditional Chinese Medicine

Fertilizers And Nitrogen Compounds October 06, 2015
Author: Alexander Romanenko
Chief Executive Officer

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