Vietnam: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Vietnam

The Vietnamese preserved frozen potato market declined to $X in 2021, which is down by -7.8% against the previous year. Overall, consumption saw a noticeable decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Preserved Frozen Potato Production in Vietnam

In value terms, preserved frozen potato production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

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Preserved Frozen Potato Exports

Exports from Vietnam

In 2021, shipments abroad of frozen potatoes prepared or preserved decreased by -22% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 402%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved frozen potato exports contracted to $X in 2021. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 345%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), Australia (X tons) and Taiwan (Chinese) (X tons) were the main destinations of preserved frozen potato exports from Vietnam, together comprising 75% of total exports. Nigeria, France and the United States lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +89.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved frozen potato exported from Vietnam were Belgium ($X), Australia ($X) and France ($X), together comprising 66% of total exports. These countries were followed by Taiwan (Chinese), the United States and Nigeria, which together accounted for a further 28%.

In terms of the main countries of destination, Nigeria, with a CAGR of +92.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average preserved frozen potato export price amounted to $X per ton, picking up by 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2018 an increase of 44%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Frozen Potato Imports

Imports into Vietnam

In 2021, approx. X tons of frozen potatoes prepared or preserved were imported into Vietnam; picking up by 14% compared with 2020. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 108%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, preserved frozen potato imports expanded significantly to $X in 2021. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 96%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest preserved frozen potato supplier to Vietnam, accounting for a 42% share of total imports. Moreover, preserved frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+19.0% per year) and the Netherlands (+11.5% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes prepared or preserved to Vietnam, comprising 44% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+24.6% per year) and the Netherlands (+13.2% per year).

Import Prices by Country

The average preserved frozen potato import price stood at $X per ton in 2021, remaining stable against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 an increase of 15%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for Australia ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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