Bangladesh: Vinegar Market 2024

Vinegar Market Size in Bangladesh

The Bangladeshi vinegar market contracted to $X in 2023, shrinking by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a somewhat lower figure.

Vinegar Production in Bangladesh

In value terms, vinegar production declined to $X in 2023 estimated in export price. In general, production recorded a slight decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.

Vinegar Exports

Exports from Bangladesh

In 2023, the amount of vinegar exported from Bangladesh skyrocketed to X tons, rising by X% compared with 2022. In general, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, vinegar exports surged to $X in 2023. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for vinegar exports from Bangladesh, accounting for a X% share of total exports. Moreover, vinegar exports to the UK exceeded the volume sent to the second major destination, Italy (X tons), sevenfold. Portugal (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Portugal (X% per year).

In value terms, the UK ($X) remains the key foreign market for vinegar exports from Bangladesh, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with an X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Australia (X% per year).

Export Prices by Country

The average vinegar export price stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price showed a deep slump. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Austria (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vinegar Imports

Imports into Bangladesh

In 2023, imports of vinegar into Bangladesh expanded significantly to X tons, increasing by X% against 2022. In general, imports saw a significant increase. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, vinegar imports expanded significantly to $X in 2023. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 when imports increased by X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

The United States (X tons), Italy (X tons) and Singapore (X tons) were the main suppliers of vinegar imports to Bangladesh, together accounting for X% of total imports. The United Arab Emirates, Malaysia, Spain, Greece and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and the United Arab Emirates ($X) appeared to be the largest vinegar suppliers to Bangladesh, together comprising X% of total imports. Italy, Greece, Spain, the United States and Australia lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vinegar import price stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2023: its price 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, vinegar import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2022, and then fell in the following year.

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

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

Source: IndexBox Platform