Eastern Asia: Market for Peel Of Citrus Fruit Or Melons 2022

Market Size for Peel Of Citrus Fruit Or Melons in Eastern Asia

In 2021, the East Asian market for peel of citrus fruit or melons decreased by -1.9% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 increased by +87.4% against 2012 indices. Over the period under review, the market attained the peak level at $X in 2020, and then declined slightly in the following year.

Production of Peel Of Citrus Fruit Or Melons in Eastern Asia

In value terms, citrus fruit or melons peel production fell to $X in 2021 estimated in export price. Overall, production, however, recorded strong growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 29% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then contracted slightly in the following year.

Exports of Peel Of Citrus Fruit Or Melons

Exports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded growth in overseas shipments of peel of citrus fruit or melons, which increased by 6.9% to X tons in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its volume 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, exports decreased by -4.0% against 2016 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 79%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, citrus fruit or melons peel exports skyrocketed to $X in 2021. Overall, exports showed prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 63% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, amounting to X tons, which was approx. 94% of total exports in 2021. Japan (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Japan (+16.6%) and Hong Kong SAR (+6.9%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +16.6% from 2012-2021. While the share of Japan (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest citrus fruit or melons peel supplier in Eastern Asia, comprising 87% of total exports. The second position in the ranking was held by Japan ($X), with a 7.9% share of total exports.

In China, citrus fruit or melons peel exports expanded at an average annual rate of +12.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+15.8% per year) and Hong Kong SAR (+7.3% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, surging by 27% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Peel Of Citrus Fruit Or Melons

Imports in Eastern Asia

In 2021, overseas purchases of peel of citrus fruit or melons were finally on the rise to reach X tons after two years of decline. Overall, imports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, citrus fruit or melons peel imports reached $X in 2021. In general, imports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2018 with an increase of 30% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) represented the major importer of peel of citrus fruit or melons, mixing up 60% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 14% share, followed by China (13%) and Taiwan (Chinese) (9.7%). Hong Kong SAR (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of peel of citrus fruit or melons. At the same time, Taiwan (Chinese) (+24.7%), South Korea (+18.6%) and Hong Kong SAR (+3.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +24.7% from 2012-2021. By contrast, China (-21.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan, South Korea and Taiwan (Chinese) increased by +25, +13 and +9 percentage points, respectively. China (-48.2 p.p.) saw their shares reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported peel of citrus fruit or melons in Eastern Asia, comprising 70% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by China, with a 7.4% share.

In Japan, citrus fruit or melons peel imports expanded at an average annual rate of +2.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+14.0% per year) and China (-18.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, remaining constant against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, citrus fruit or melons peel import price increased by +48.7% against 2017 indices. The growth pace was the most rapid in 2018 when the import price increased by 30% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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