World - Onion (Dry) - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Global Dry Onion Market to Overcome 100K Tonnes by 2025
According to market research conducted by IndexBox, the global dry onion consumption stood at X tonnes in 2016, undergoing a measured upward trend with an annual average growth rate of +X% from 2007 to 2016. In wholesale prices, the market was estimated at $X, decreasing gradually over the last three years. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). In X, the market size was $X (or X%) less than the year before and $X (or X%) less than its peak level achieved in 2013.
Onion is a traditional product in a variety of world cuisines; it is used in cooking and canning as a spicy additive to many dishes and canned products. Onion is one of the main ingredients in the preparation of sauces and dressings, side dishes, meat and fish dishes, it is included in the recipes of various spicy mixtures. Pungent varieties of onions (bulb onion or common onion) are used in cooking soups, as well as meat, fish and vegetable dishes. Sweet varieties of onions are used for making salads, snacks, for pickling.
China (X tonnes in 2016) and India (X tonnes) were the leading onion consuming markets, together accounting for approximately X% of global consumption. These countries also constituted the leading producers of dry onion in the world. The U.S. (X tonnes in 2016) held the third position among the main consumers of dry onion, with X% of total figures. It was followed by Iran, Russia, Bangladesh and Brazil (with the shares of X%, each).
Near X% of global dry onion output is intended for being exported, this figure stood almost unchanged throughout the period from 2007 to 2016. Such relatively low trade intensity is due to the fact that the major consuming countries – India and China – are entirely supplied with the domestic product. However, in other countries, which lag far behind in terms of consumption volume, imports can affect the market significantly.
In 2016, global dry onion export expanded to X tonnes, rising steadily at an average annual rate of +X% from 2007 to 2016. In value terms, however, it reduced to $X, due to a slump in exporter prices. The average export price for dry onions stood at X USD per tonne in 2016, decreasing by X% against the previous year. Overall, the prices fluctuated notably year-by-year: like every agricultural crop, onion harvest is highly dependent on climatic conditions and farming practices; this imposes certain market risks associated with price fluctuations in lean years. Furthermore, export prices varied considerably by country of origin: Mexico (X USD/tonne), the U.S. (X USD/tonne) and China (X USD/tonne) were high priced suppliers, while India (X USD/tonne) was among the lowest.
In 2016, India (X tonnes) and the Netherlands (X tonnes) were the main global suppliers of dry onion with a combined share of X% of the global exports. They were followed by China (X%), Egypt (X%), Mexico (X%), Spain (X%) and the U.S. (X%). From 2007 to 2016, Egypt (+X percentage point) and India (+X percentage point) strengthened their positions in terms of the global exports, while the shares of the U.S. (-X percentage point) and China (-X percentage point) declined slightly. The shares of the other countries remained relatively stable throughout the analyzed period.
On the other hand, Malaysia (X tonnes), the U.S. (X tonnes), the U.K. (X tonnes), Saudi Arabia (X tonnes), the United Arab Emirates (X tonnes), Bangladesh (X tonnes) and Japan (X tonnes) were the leading destinations of dry onion imports in 2016, together making up X% of global imports. Among the major importing countries Bangladesh (+X% per year) gained the highest average annual growth rates from 2007 to 2016. Moreover, based on the results of 2016, in the U.S. onion imports comprised X% in the total consumption (in physical terms), in Bangladesh this figure stood at X%. These countries were the largest dependent on imports; therefore they can all not only be listed as major importers, but also should be considered as attractive destinations for global onion suppliers.
Onion is a well-known product enjoying stable demand; therefore, no significant fluctuations in onion consumption are expected. It is contemplated that a steady population growth, an increase in income level, and an increase in consumption of meat products should remain key market drivers in the immediate term. The latter factor is especially pronounced in developing countries, primarily, China and India, where, on the one hand, onions are used in many dishes, as well as in sauces and dressings, and, on the other hand, meat consumption is on the rise due to ongoing urbanization and incomes growth. Therefore, the performance of the market is forecast to continue its mild upward trend, rising with an anticipated CAGR of +X% for the nine-year period from 2016 to 2025, which is expected to lead the market to a volume of X tonnes by the end of 2025.
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Source: IndexBox AI Platform
This report provides an in-depth analysis of the global dry onion market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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