Asia: Table Flatware Market 2024

Table Flatware Market Size in Asia

The Asian table flatware market declined slightly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Table Flatware Production in Asia

In value terms, table flatware production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

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Table Flatware Exports

Exports in Asia

In 2022, shipments abroad of table flatware increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, table flatware exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Vietnam (X tons), comprising a X% share of total exports. India (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of table flatware. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, India (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest table flatware supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports.

In China, table flatware exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by X% against the previous year. Export price indicated a pronounced increase 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, table flatware export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced mixed trends in the export price figures.

Table Flatware Imports

Imports in Asia

Table flatware imports soared to X tons in 2022, with an increase of X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, table flatware imports soared to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons) and the United Arab Emirates (X tons) were the major importers of table flatware in 2022, resulting at near X% and X% of total imports, respectively. It was distantly followed by Iraq (X tons), India (X tons), Thailand (X tons) and Saudi Arabia (X tons), together committing a X% share of total imports. South Korea (X tons), Malaysia (X tons), Uzbekistan (X tons), Myanmar (X tons), Japan (X tons), Bangladesh (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Uzbekistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported table flatware in Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Iraq, with a X% share.

In the United Arab Emirates, table flatware imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Iraq (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform