China: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in China

In 2021, after two years of decline, there was growth in the Chinese preserved frozen potato market, when its value increased by 2.6% to $X. In general, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.9% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Frozen Potato Production in China

In value terms, preserved frozen potato production expanded markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.5% against 2018 indices. The growth pace was the most rapid in 2017 when the production volume increased by 54%. Preserved frozen potato production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

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Preserved Frozen Potato Exports

Exports from China

In 2021, shipments abroad of frozen potatoes prepared or preserved increased by 56% to X tons, rising for the third year in a row after two years of decline. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 196% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, preserved frozen potato exports soared to $X in 2021. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 133%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Philippines (X tons) was the main destination for preserved frozen potato exports from China, with a 46% share of total exports. Moreover, preserved frozen potato exports to the Philippines exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. The third position in this ranking was held by Japan (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines stood at +514.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+31.7% per year) and Japan (-5.1% per year).

In value terms, the largest markets for preserved frozen potato exported from China were the Philippines ($X), Japan ($X) and Hong Kong SAR ($X), together comprising 76% of total exports.

The Philippines, with a CAGR of +452.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved frozen potato export price amounted to $X per ton, with a decrease of -4.1% against the previous year. In general, the export price saw a pronounced reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 85%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Frozen Potato Imports

Imports into China

In 2021, preserved frozen potato imports into China dropped remarkably to X tons, waning by -26.6% compared with 2020 figures. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2018 when imports increased by 54%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved frozen potato imports dropped rapidly to $X in 2021. Overall, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of preserved frozen potato to China, with a 50% share of total imports. Moreover, preserved frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+8,554.5% per year) and Turkey (+188.7% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes prepared or preserved to China, comprising 54% of total imports. The second position in the ranking was taken by Turkey ($X), with a 15% share of total imports. It was followed by Argentina, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+193.9% per year) and Argentina (+7,360.4% per year).

Import Prices by Country

In 2021, the average preserved frozen potato import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 25% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Canada ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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