Asia: Vegetable Product Market 2024

Vegetable Product Market Size in Asia

The Asian vegetable product market rose notably to $X.4B in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Vegetable Product Production in Asia

In value terms, vegetable product production rose markedly to $X.4B in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X.6B in 2020; however, from 2021 to 2022, production remained at a lower figure.

India (X tons) constituted the country with the largest volume of vegetable product production, comprising approx. X% of total volume. Moreover, vegetable product production in India exceeded the figures recorded by the second-largest producer, China (X tons), fourfold. The third position in this ranking was taken by Thailand (X tons), with an X% share.

In India, vegetable product production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (X% per year) and Thailand (X% per year).

In 2022, the average vegetable product yield in Asia stood at X tons per ha, standing approx. at 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. The level of yield peaked in 2022 and is likely to see steady 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 vegetable product harvested area totaled X ha in 2022, growing by X% on 2021 figures. Overall, the harvested area showed a relatively flat trend pattern. Over the period under review, the harvested area dedicated to vegetable product production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Vegetable Product Exports

Exports in Asia

In 2022, overseas shipments of vegetable products increased by X% to X tons, rising for the sixth consecutive year after two years of decline. Total exports indicated a strong increase from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, vegetable product exports rose rapidly to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value 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, exports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. Myanmar (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (X%) and Turkey (X%). Lao People's Democratic Republic (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vegetable product exports from China stood at X%. At the same time, Myanmar (X%), the United Arab Emirates (X%), Lao People's Democratic Republic (X%), Indonesia (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Myanmar, Indonesia, the United Arab Emirates and Lao People's Democratic Republic increased by X, X, X and X percentage points, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated a slight expansion 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, vegetable product export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Vegetable Product Imports

Imports in Asia

In 2022, supplies from abroad of vegetable products increased by X% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, vegetable product imports surged to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of vegetable product imports in 2022 were China (X tons), together finishing at X% of total import.

China was also the fastest-growing in terms of the vegetable products imports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of China increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vegetable products in Asia.

In China, vegetable product imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price showed a noticeable contraction. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

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