Southern Asia: Vanilla Market 2024

Vanilla Market Size in Southern Asia

The South Asian vanilla market dropped modestly to $X in 2022, reducing by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2021, and then fell in the following year.

Vanilla Production in Southern Asia

In value terms, vanilla production dropped to $X in 2022 estimated in export price. In general, production showed a deep downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

India (X tons) constituted the country with the largest volume of vanilla production, accounting for X% of total volume.

In India, vanilla production shrank by an average annual rate of X% over the period from 2012-2022.

Vanilla Exports

Exports in Southern Asia

In 2022, approx. X tons of vanilla were exported in Southern Asia; dropping by X% compared with the year before. Overall, exports showed a sharp decrease. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, vanilla exports contracted rapidly to $X in 2022. Over the period under review, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together amounting to X% of total export.

India was also the fastest-growing in terms of the vanilla exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest vanilla supplier in Southern Asia.

In India, vanilla exports contracted by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Vanilla Imports

Imports in Southern Asia

In 2022, approx. X tons of vanilla were imported in Southern Asia; shrinking by X% compared with the previous year's figure. In general, imports recorded a sharp downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, vanilla imports fell remarkably to $X in 2022. Over the period under review, imports faced a sharp downturn. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Maldives was the main importer of vanilla in Southern Asia, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Bangladesh (X kg) and Pakistan (X kg), together generating a X% share of total imports. India (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vanilla imports into Maldives stood at X%. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Bangladesh (X%) and India (X%) illustrated a downward trend over the same period. Maldives (X p.p.), Bangladesh (X p.p.) and Pakistan (X p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported vanilla in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Maldives ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to X%. In the other countries, the average annual rates were as follows: Maldives (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price showed a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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