Eastern Asia: Chicory Market 2024

Chicory Market Size in Eastern Asia

In 2022, after three years of growth, there was significant decline in the East Asian chicory market, when its value decreased by X% to $X. In general, consumption, however, enjoyed a strong expansion. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Chicory Production in Eastern Asia

In value terms, chicory production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), Hong Kong SAR (X tons) and Japan (X kg).

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

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Chicory Exports

Exports in Eastern Asia

In 2022, chicory exports in Eastern Asia fell remarkably to X tons, which is down by X% on the year before. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then shrank notably in the following year.

In value terms, chicory exports reduced markedly to $X in 2022. Over the period under review, exports showed a pronounced contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Hong Kong SAR (X tons) was the largest exporter of chicory, committing X% of total exports. It was distantly followed by China (X kg), generating a X% share of total exports. Taiwan (Chinese) (X kg) followed a long way behind the leaders.

Exports from Hong Kong SAR decreased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. China (X p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest chicory supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a noticeable slump. The pace of growth was the most pronounced in 2013 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Chicory Imports

Imports in Eastern Asia

After three years of growth, purchases abroad of chicory decreased by X% to X tons in 2022. Over the period under review, imports, however, recorded temperate growth. The pace of growth was the most pronounced in 2016 when imports increased by X%. The volume of import peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, chicory imports shrank significantly to $X in 2022. Overall, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

Taiwan (Chinese) dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. South Korea (X tons) took a little share of total imports.

Taiwan (Chinese) was also the fastest-growing in terms of the chicory imports, with a CAGR of X% from 2012 to 2022. South Korea (X%) illustrated a downward trend over the same period. Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported chicory in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Taiwan (Chinese) totaled X%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea stood at $X per ton.

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

Source: IndexBox Platform

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