Vietnam: Vanilla Market 2024

Vanilla Market Size in Vietnam

The Vietnamese vanilla market declined sharply to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a notable expansion. Over the period under review, the market attained the peak level at $X in 2021, and then shrank rapidly in the following year.

Vanilla Exports

Exports from Vietnam

In 2022, vanilla exports from Vietnam dropped sharply to X tons, shrinking by X% on the previous year. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then declined dramatically in the following year.

In value terms, vanilla exports fell remarkably to $X in 2022. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lebanon (X tons) was the main destination for vanilla exports from Vietnam, accounting for a X% share of total exports. It was followed by Panama (X kg), with a X% share of total exports. The third position in this ranking was taken by the United States (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lebanon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and the United States (X% per year).

In value terms, Lebanon ($X) emerged as the key foreign market for vanilla exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lebanon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Panama (X% per year).

Export Prices by Country

The average vanilla export price stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the export price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Lebanon ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Vanilla Imports

Imports into Vietnam

Vanilla imports into Vietnam dropped rapidly to X tons in 2022, waning by X% on the previous year's figure. In general, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, vanilla imports declined notably to $X in 2022. Over the period under review, imports, however, posted resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), Indonesia (X tons) and Australia (X tons) were the main suppliers of vanilla imports to Vietnam, together accounting for X% of total imports. These countries were followed by the UK, which accounted for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vanilla suppliers to Vietnam were France ($X), Indonesia ($X) and Australia ($X), together accounting for X% of total imports. These countries were followed by the UK, which accounted for a further X%.

In terms of the main suppliers, the UK, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vanilla import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price recorded a measured increase. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from France ($X per ton) and Indonesia ($X per ton), while the price for the UK ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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