Eastern Asia: Apricot Market 2024

Apricot Market Size in Eastern Asia

The East Asian apricot market fell modestly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Apricot Production in Eastern Asia

In value terms, apricot production shrank to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Japan (X tons), China (X tons) and Taiwan (Chinese) (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by China (with a CAGR of X%), while production for the other leaders experienced a decline in the production figures.

In 2022, the average apricot yield in Eastern Asia fell slightly to X tons per ha, almost unchanged from 2021 figures. In general, the yield continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2013 when the yield increased by X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2022, the growth of the apricot yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The apricot harvested area reduced to X ha in 2022, stabilizing at 2021 figures. In general, the harvested area saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area failed to regain momentum.

Apricot Exports

Exports in Eastern Asia

In 2022, shipments abroad of apricots was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a sharp reduction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, apricot exports soared to $X in 2022. Over the period under review, exports, however, faced a sharp contraction. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Hong Kong SAR (X tons) represented the largest exporter of apricots, making up X% of total exports. South Korea (X kg) took an X% share (based on physical terms) of total exports, which put it in second place, followed by China (X%) and Japan (X%).

From 2012 to 2022, average annual rates of growth with regard to apricot exports from Hong Kong SAR stood at X%. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) and China (X%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (X p.p.), South Korea (X p.p.) and Japan (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, Hong Kong SAR ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price continues to indicate significant growth. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

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

Apricot Imports

Imports in Eastern Asia

In 2022, after three years of decline, there was significant growth in overseas purchases of apricots, when their volume increased by X% to X tons. In general, imports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, apricot imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Hong Kong SAR was the main importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Macao SAR (X tons), committing a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to apricot imports into Hong Kong SAR stood at X%. At the same time, Macao SAR (X%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Macao SAR (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported apricots in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Macao SAR ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR was relatively modest.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a mild increase 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, apricot import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Macao SAR stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%).

Source: IndexBox Platform

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