Eastern Asia: Vegetable Market 2024

Vegetable Market Size in Eastern Asia

The East Asian vegetable market was estimated at $X in 2023, leveling off at the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Vegetable Production in Eastern Asia

In value terms, vegetable production expanded modestly to $X in 2023 estimated in export price. The total production indicated buoyant growth from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X.3B. From 2017 to 2023, production growth remained at a lower figure.

China (X tons) constituted the country with the largest volume of vegetable production, accounting for X% of total volume. It was followed by Japan (X tons), with a X% share of total production.

In China, vegetable production increased at an average annual rate of X% over the period from 2012-2023.

The average vegetable yield contracted modestly to X tons per ha in 2023, flattening at 2022. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2023, the growth of the vegetable yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the vegetable harvested area in Eastern Asia reached X ha, approximately reflecting the previous year. In general, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha; afterwards, it flattened through to 2023.

Vegetable Exports

Exports in Eastern Asia

Vegetable exports rose notably to X tons in 2023, increasing by X% compared with the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vegetable exports totaled $X in 2023. Total exports indicated strong growth from 2012 to 2023: its value 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, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of vegetables, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the vegetables exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest vegetable supplier in Eastern Asia.

From 2012 to 2023, the average annual growth rate of value in China totaled X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, standing approx. at the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Vegetable Imports

Imports in Eastern Asia

In 2023, purchases abroad of vegetables decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, vegetable imports contracted to $X in 2023. Total imports indicated a mild increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

China prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2023. It was distantly followed by Hong Kong SAR (X tons), Japan (X tons) and South Korea (X tons), together mixing up a X% share of total imports. Taiwan (Chinese) (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the vegetables imports, with a CAGR of X% from 2012 to 2023. Hong Kong SAR and Taiwan (Chinese) experienced a relatively flat trend pattern. Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vegetables in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of import peaked at $X per ton in 2022, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform