Global Quinces Market: Anticipated CAGR of +2.2% driving market volume to 876K tons by 2030

IndexBox has just published a new report: World - Quinces - Market Analysis, Forecast, Size, Trends and Insights.

The market for quinces is on the rise, driven by increasing demand worldwide. With a projected CAGR of +2.2% in volume and +4.5% in value from 2023 to 2030, the market is expected to reach 876K tons and $806M in nominal prices by the end of the period.

Market Forecast

Driven by increasing demand for quinces worldwide, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.2% for the period from 2023 to 2030, which is projected to bring the market volume to 876K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2023 to 2030, which is projected to bring the market value to $806M (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Quinces

After four years of growth, consumption of quinces decreased by -0.1% to 751K tons in 2023. The total consumption volume increased at an average annual rate of +1.3% from 2013 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the consumption volume increased by 8.5% against the previous year. Global consumption peaked at 752K tons in 2022, and then declined slightly in the following year.

The global quince market value reduced to $592M in 2023, falling by -6.3% 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). The market value increased at an average annual rate of +1.8% over the period from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs at $734M in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2023 were Turkey (176K tons), China (111K tons) and Uzbekistan (94K tons), together accounting for 51% of global consumption. Iran, Morocco, Azerbaijan, Argentina, the Netherlands and Russia lagged somewhat behind, together accounting for a further 32%.

From 2013 to 2023, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Russia (with a CAGR of +6.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest quince markets worldwide were Turkey ($145M), Iran ($82M) and Uzbekistan ($50M), with a combined 47% share of the global market. Morocco, Azerbaijan, Argentina, the Netherlands and Russia lagged somewhat behind, together accounting for a further 26%.

In terms of the main consuming countries, Russia, with a CAGR of +6.1%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of quince per capita consumption in 2023 were Azerbaijan (3.8 kg per person), Uzbekistan (2.6 kg per person) and Turkey (2 kg per person).

From 2013 to 2023, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Russia (with a CAGR of +6.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Quinces

In 2023, production of quinces decreased by -0.1% to 757K tons for the first time since 2019, thus ending a three-year rising trend. The total output volume increased at an average annual rate of +1.2% over the period from 2013 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 7.7% against the previous year. Over the period under review, global production hit record highs at 758K tons in 2022, and then contracted modestly in the following year. The general positive trend in terms output was largely conditioned by a mild increase of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, quince production reduced modestly to $600M in 2023 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 35%. Global production peaked at $743M in 2018; however, from 2019 to 2023, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2023 were Turkey (195K tons), China (111K tons) and Uzbekistan (94K tons), with a combined 53% share of global production. Iran, Morocco, Azerbaijan, Argentina and the Netherlands lagged somewhat behind, together comprising a further 31%.

From 2013 to 2023, the biggest increases were recorded for Azerbaijan (with a CAGR of +4.3%), while production for the other global leaders experienced more modest paces of growth.

Yield

The global average quince yield declined slightly to 9.1 tons per ha in 2023, therefore, remained relatively stable against 2022. In general, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 8.4%. Over the period under review, the average quince yield attained the peak level at 9.2 tons per ha in 2022, and then reduced modestly in the following year.

Harvested Area

In 2023, the total area harvested in terms of quinces production worldwide totaled 83K ha, almost unchanged from 2022. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 3.5%. Over the period under review, the harvested area dedicated to quince production reached the peak figure at 83K ha in 2021; however, from 2022 to 2023, the harvested area stood at a somewhat lower figure.

Imports

World Imports of Quinces

In 2023, purchases abroad of quinces increased by 1.2% to 34K tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports recorded a strong increase. The pace of growth appeared the most rapid in 2020 when imports increased by 27% against the previous year. As a result, imports attained the peak of 36K tons. From 2021 to 2023, the growth of global imports remained at a lower figure.

In value terms, quince imports expanded significantly to $35M in 2023. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. Over the period under review, global imports attained the peak figure in 2023 and are likely to see gradual growth in years to come.

Imports By Country

In 2023, Russia (7.6K tons), distantly followed by Austria (4.1K tons), Romania (3.8K tons), the United States (2.2K tons) and Germany (1.9K tons) were the largest importers of quinces, together achieving 57% of total imports. The following importers - Iraq (1,183 tons), Georgia (986 tons), Spain (912 tons), Bulgaria (858 tons) and Italy (839 tons) - together made up 14% of total imports.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Spain (with a CAGR of +45.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest quince importing markets worldwide were Austria ($6.3M), Russia ($5.8M) and Romania ($3.6M), with a combined 45% share of global imports. Germany, the United States, Italy, Bulgaria, Spain, Iraq and Georgia lagged somewhat behind, together accounting for a further 21%.

Spain, with a CAGR of +30.9%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average quince import price stood at $1,004 per ton in 2023, with an increase of 14% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Global import price peaked at $1,057 per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Austria ($1,531 per ton), while Georgia ($236 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Bulgaria (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Quinces

After two years of decline, shipments abroad of quinces increased by 0.5% to 40K tons in 2023. The total export volume increased at an average annual rate of +2.5% over the period from 2013 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of 26%. The global exports peaked at 43K tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, quince exports surged to $41M in 2023. The total export value increased at an average annual rate of +1.8% from 2013 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 23% against the previous year. Over the period under review, the global exports hit record highs in 2023 and are likely to see gradual growth in the near future.

Exports By Country

Turkey represented the major exporter of quinces in the world, with the volume of exports finishing at 19K tons, which was approx. 47% of total exports in 2023. The Netherlands (4.9K tons) took the second position in the ranking, followed by Azerbaijan (3.6K tons), Austria (3.6K tons), Greece (2.7K tons) and Spain (2.5K tons). All these countries together held approx. 43% share of total exports.

Exports from Turkey increased at an average annual rate of +3.5% from 2013 to 2023. At the same time, Austria (+39.4%), Azerbaijan (+31.1%) and Greece (+7.2%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing exporter exported in the world, with a CAGR of +39.4% from 2013-2023. By contrast, Spain (-1.9%) and the Netherlands (-4.4%) illustrated a downward trend over the same period. Austria (+8.5 p.p.), Azerbaijan (+8.2 p.p.), Turkey (+4.4 p.p.) and Greece (+2.5 p.p.) significantly strengthened its position in terms of the global exports, while Spain and the Netherlands saw its share reduced by -3.4% and -12.1% from 2013 to 2023, respectively.

In value terms, Turkey ($16M) remains the largest quince supplier worldwide, comprising 38% of global exports. The second position in the ranking was taken by the Netherlands ($7.8M), with a 19% share of global exports. It was followed by Austria, with a 13% share.

In Turkey, quince exports increased at an average annual rate of +3.0% over the period from 2013-2023. In the other countries, the average annual rates were as follows: the Netherlands (-4.9% per year) and Austria (+37.8% per year).

Export Prices By Country

In 2023, the average quince export price amounted to $1,013 per ton, picking up by 19% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $1,078 per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($1,585 per ton), while Greece ($663 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Spain (+3.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform