Azerbaijan: Canned Vegetable Market 2024

Canned Vegetable Market Size in Azerbaijan

In 2022, the Azerbaijani canned vegetable market increased by 40% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption posted a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Canned Vegetable Production in Azerbaijan

In value terms, canned vegetable production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 40%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Canned Vegetable Exports

Exports from Azerbaijan

In 2022, the amount of canned vegetables exported from Azerbaijan skyrocketed to X tons, growing by 81% on 2021. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 123% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, canned vegetable exports surged to $X in 2022. In general, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 127%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X tons) was the main destination for canned vegetable exports from Azerbaijan, accounting for a 61% share of total exports. Moreover, canned vegetable exports to Russia exceeded the volume sent to the second major destination, Georgia (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Russia stood at +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+4.7% per year) and the United States (-1.0% per year).

In value terms, the largest markets for canned vegetable exported from Azerbaijan were Russia ($X), Georgia ($X) and the United States ($X), together comprising 89% of total exports. The United Arab Emirates, Belarus and Kazakhstan lagged somewhat behind, together comprising a further 5.2%.

Among the main countries of destination, the United Arab Emirates, with a CAGR of +98.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned vegetable export price stood at $X per ton in 2022, growing by 6.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2017 an increase of 41%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Azerbaijan

For the fourth year in a row, Azerbaijan recorded growth in purchases abroad of canned vegetables, which increased by 22% to X tons in 2022. Overall, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, canned vegetable imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest canned vegetable supplier to Azerbaijan, accounting for a 51% share of total imports. Moreover, canned vegetable imports from Russia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fourfold. The third position in this ranking was taken by Turkey (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-2.3% per year) and Turkey (+3.0% per year).

In value terms, Russia ($X) constituted the largest supplier of canned vegetables to Azerbaijan, comprising 63% of total imports. The second position in the ranking was held by Turkey ($X), with a 9.4% share of total imports. It was followed by Hungary, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+13.5% per year) and Hungary (+9.5% per year).

Import Prices by Country

In 2022, the average canned vegetable import price amounted to $X per ton, with an increase of 28% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, canned vegetable import price increased by +58.3% against 2015 indices. The most prominent rate of growth was recorded in 2013 an increase of 34%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for Moldova ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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