ASEAN: Asparagus Market 2025

Asparagus Market Size in ASEAN

The ASEAN asparagus market contracted slightly to $X in 2022, dropping by -1.8% against the previous year. In general, consumption, however, recorded a slight decline. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Asparagus Production in ASEAN

In value terms, asparagus production shrank to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 42% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Thailand (X tons) constituted the country with the largest volume of asparagus production, comprising approx. 94% of total volume. Moreover, asparagus production in Thailand exceeded the figures recorded by the second-largest producer, the Philippines (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Thailand totaled -2.2%.

In 2022, the average yield of asparagus in ASEAN reduced modestly to X tons per ha, which is down by -2.6% against the year before. The yield indicated moderate growth from 2012 to 2022: its figure increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asparagus yield decreased by -5.1% against 2015 indices. The growth pace was the most rapid in 2015 with an increase of 80%. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the asparagus yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the asparagus harvested area in ASEAN amounted to X ha, growing by 4.9% compared with the previous year's figure. Overall, the harvested area, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 when the harvested area increased by 20%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Asparagus Exports

Exports in ASEAN

In 2022, the amount of asparagus exported in ASEAN contracted sharply to X tons, waning by -41.1% on 2021 figures. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 39%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, asparagus exports expanded modestly to $X in 2022. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 7.2% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand dominates exports structure, accounting for X tons, which was approx. 94% of total exports in 2022. The following exporters - Singapore (X tons) and Malaysia (X tons) - each reached a 4.1% share of total exports.

Exports from Thailand decreased at an average annual rate of -13.6% from 2012 to 2022. At the same time, Malaysia (+14.4%) and Singapore (+2.0%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +14.4% from 2012-2022. Thailand (+4.3 p.p.), Singapore (+1.9 p.p.) and Malaysia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest asparagus supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was held by Singapore ($X), with a 5.6% share of total exports.

In Thailand, asparagus exports plunged by an average annual rate of -9.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+5.4% per year) and Malaysia (+15.6% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, jumping by 75% against the previous year. Export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, asparagus export price increased by +94.4% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced more modest paces of growth.

Asparagus Imports

Imports in ASEAN

In 2022, purchases abroad of asparagus decreased by -2.6% to X tons, falling for the fourth consecutive year after three years of growth. Total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -39.7% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 35% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, asparagus imports stood at $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when imports increased by 10% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the two major importers of asparagus, namely Singapore and Malaysia, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +2.4%).

In value terms, Singapore ($X) constitutes the largest market for imported asparagus in ASEAN, comprising 87% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9.5% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +2.0%.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by 12% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 34%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.6%).

Source: IndexBox Platform