Strawberry Market in Asia - Key Insights

IndexBox has just published a new report, the Asia - Strawberries - Market Analysis, Forecast, Size, Trends and Insights. Here is a summary of the report's key findings.

The revenue of the strawberry market in Asia amounted to $11.2B in 2017, dropping by -15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The strawberry consumption continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2013, with an increase of 34% against the previous year. The level of strawberry consumption peaked at $13.1B in 2016, and then declined slightly in the following year.

Strawberry Production in Asia

In value terms, strawberry production stood at $11.7B in 2017 estimated in export prices. The strawberry production continues to indicate a remarkable increase. The growth pace was the most rapid in 2014, when it surged by 36% against the previous year. The level of strawberry production peaked at $13.7B in 2016, and then declined slightly in the following year.

China (3.7M tonnes) remains the largest strawberry producing country in Asia, accounting for 81% of total production. Moreover, strawberry production in China exceeded the figures recorded by the world's second largest producer, Turkey (400K tonnes), ninefold. The third position in this ranking was occupied by South Korea (210K tonnes), with a 4.6% share.

From 2007 to 2017, the average annual rate of growth in terms of volume in China stood at +7.1%. In the other countries, the average annual rates were as follows: Turkey (+4.8% per year) and South Korea (+0.3% per year).

In 2017, average strawberry yield in Asia stood at 27 tonne per ha, growing by 2.8% against the previous year. The yield figure increased at an average annual rate of +1.6% over the period from 2007 to 2017; the trend pattern remained consistent, with only minor fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2012, with an increase of 5.9% year-to-year. The level of strawberry yield peaked in 2017, and is expected to retain its growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The strawberry harvested area stood at 169K ha in 2017, coming down by -3.9% against the previous year. The total harvested area indicated a strong growth from 2007 to 2017: its figure increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, the strawberry harvested area increased by +52.8% against 2008 indices. The most prominent rate of growth was recorded in 2015, when the harvested area increased by 10% y-o-y.

Strawberry Exports

Exports in Asia

The exports stood at 25K tonnes in 2017, going up by 15% against the previous year. The strawberry exports continue to indicate a relatively flat trend pattern.

In value terms, strawberry exports amounted to $87M (IndexBox estimates) in 2017. The total exports indicated a strong increase from 2007 to 2017: its value increased at an average annual rate of +0.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2017 figures, the strawberry exports increased by +61.9% against 2011 indices. Over the period under review, strawberry exports attained their maximum in 2017, and are expected to retain its growth in the near future.

Exports by Country

Turkey was the main exporter of strawberries in Asia, with the volume of exports finishing at 9.1K tonnes, which was approx. 36% of total exports in 2017. South Korea (4.8K tonnes) occupied a 19% share (based on tonnes) of total exports, which put it in second place, followed by Japan (15%), China (9.1%), Jordan (8.5%) and Syrian Arab Republic (7.8%).

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by South Korea (+26.6% per year), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($43M) remains the largest strawberry supplier in Asia, comprising 49% of global exports. The second position in the ranking was occupied by Turkey ($12M), with a 14% share of global exports. It was followed by Japan, with a 12% share.

Export Prices by Country

The strawberry export price in Asia stood at $3.5 per kg in 2017, rising by 3.8% against the previous year. The the strawberry export price continues to indicate a prominent growth.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was South Korea ($9 per kg), while Turkey ($1.4 per kg) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by China (+6.8% per year), while the other leaders experienced more modest paces of growth.

Strawberry Imports

Imports in Asia

In 2017, the amount of strawberries imported in Asia stood at 72K tonnes, increasing by 12% against the previous year. The strawberry imports continue to indicate a remarkable increase.

In value terms, strawberry imports stood at $289M (IndexBox estimates) in 2017. The strawberry imports continue to indicate a remarkable growth. The level of imports peaked in 2017, and are expected to retain its growth in the immediate term.

Imports by Country

In 2017, Saudi Arabia (18K tonnes), the United Arab Emirates (12K tonnes), China, Hong Kong SAR (10K tonnes), Singapore (8K tonnes) and Japan (7.9K tonnes) represented the largest importers of strawberries in Asia, committing 78% of total import. It was distantly followed by Kuwait (4K tonnes), constituting 5.6% share of total imports. Thailand (2.2K tonnes) held the minor share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Thailand (+20.9% per year), while the other leaders experienced more modest paces of growth.

In value terms, China, Hong Kong SAR ($62M), Saudi Arabia ($54M) and the United Arab Emirates ($46M) constituted the countries with the highest levels of imports in 2017, together comprising 56% of total imports. Japan, Singapore, Kuwait and Thailand lagged somewhat behind, together accounting for a further 31%.

Import Prices by Country

The strawberry import price in Asia stood at $4 per kg in 2017, coming down by -2.1% against the previous year. Over the period from 2007 to 2017, it increased at an average annual rate of +3.1%.

Import prices varied noticeably by the country of destination; the country with the highest import price was China, Hong Kong SAR ($6.2 per kg), while Saudi Arabia ($3.1 per kg) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Saudi Arabia (+10.4% per year), while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform