Asia: Vegetable Market 2024

Vegetable Market Size in Asia

The Asian vegetable market rose slightly to $X.4B in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X.2B. From 2017 to 2023, the growth of the market failed to regain momentum.

Vegetable Production in Asia

In value terms, vegetable production rose to $X.2B in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X.5B. From 2017 to 2023, production growth failed to regain momentum.

China (X tons) remains the largest vegetable producing country in Asia, accounting for X% of total volume. Moreover, vegetable production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume in China amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: India (X% per year) and Thailand (X% per year).

The average vegetable yield totaled X tons per ha in 2023, remaining constant against 2022 figures. Over the period under review, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2023, the growth of the vegetable yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of vegetables production in Asia reduced modestly to X ha, remaining relatively unchanged against the year before. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of harvested area peaked at X ha in 2022, and then fell in the following year.

Vegetable Exports

Exports in Asia

In 2023, the amount of vegetables exported in Asia rose modestly to X tons, picking up by X% on the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, vegetable exports rose sharply to $X in 2023. Total exports indicated pronounced growth from 2012 to 2023: its value 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, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

In 2023, China (X tons), distantly followed by Thailand (X tons), India (X tons), Turkey (X tons), Cambodia (X tons) and Myanmar (X tons) represented the key exporters of vegetables, together making up X% of total exports. Iran (X tons), Pakistan (X tons), Vietnam (X tons) and Uzbekistan (X tons) held a minor share of total exports.

From 2012 to 2023, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest vegetable supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with an X% share of total exports. It was followed by India, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and India (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

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

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

Vegetable Imports

Imports in Asia

In 2023, supplies from abroad of vegetables increased by X% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked in 2023 and is likely to see gradual growth in the immediate term.

In value terms, vegetable imports reached $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2023, China (X tons), distantly followed by Thailand (X tons), India (X tons), Pakistan (X tons) and Bangladesh (X tons) were the main importers of vegetables, together making up X% of total imports. Malaysia (X tons), the United Arab Emirates (X tons), Turkey (X tons), Iraq (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Japan (X tons) and Nepal (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable importing markets in Asia were China ($X), India ($X) and Pakistan ($X), together comprising X% of total imports. Turkey, Thailand, the United Arab Emirates, Malaysia, Bangladesh, Japan, Indonesia, Hong Kong SAR, Iraq and Nepal lagged somewhat behind, together comprising a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, growing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform