India: Canned Vegetable Market 2024

Canned Vegetable Market Size in India

The Indian canned vegetable market expanded modestly to $X in 2022, increasing by 1.5% against the previous year. The market value increased at an average annual rate of +5.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Canned Vegetable Production in India

In value terms, canned vegetable production reduced modestly to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 42%. Canned vegetable production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Canned Vegetable Exports

Exports from India

Canned vegetable exports from India shrank slightly to X tons in 2022, waning by -3.5% on the previous year. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 39% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, canned vegetable exports fell to $X in 2022. Over the period under review, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 32% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for canned vegetable exports from India, accounting for a 60% share of total exports. Moreover, canned vegetable exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.2% per year) and the United Arab Emirates (-4.2% per year).

In value terms, the United States ($X) remains the key foreign market for canned vegetables exports from India, comprising 61% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.3% share of total exports. It was followed by the United Arab Emirates, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+6.0% per year) and the United Arab Emirates (+3.1% per year).

Export Prices by Country

The average canned vegetable export price stood at $X per ton in 2022, falling by -6.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2013 an increase of 30%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into India

In 2022, approx. X tons of canned vegetables were imported into India; jumping by 53% compared with the previous year. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 191% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, canned vegetable imports soared to $X in 2022. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 71% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of canned vegetable to India, with a 40% share of total imports. Moreover, canned vegetable imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.1% per year) and Thailand (+19.3% per year).

In value terms, Spain ($X) constituted the largest supplier of canned vegetables to India, comprising 46% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+24.2% per year) and Thailand (+6.8% per year).

Import Prices by Country

In 2022, the average canned vegetable import price amounted to $X per ton, remaining constant against the previous year. Overall, the import price, however, recorded a abrupt decrease. The growth pace was the most rapid in 2021 an increase of 10% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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