ASEAN: Canned Vegetable Market 2024

Canned Vegetable Market Size in ASEAN

The ASEAN canned vegetable market rose slightly to $X in 2022, growing by 3.2% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.9% against 2019 indices. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Canned Vegetable Production in ASEAN

In value terms, canned vegetable production dropped slightly to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 37% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Canned Vegetable Exports

Exports in ASEAN

In 2022, the amount of canned vegetables exported in ASEAN fell slightly to X tons, shrinking by -5% compared with the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 11% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, canned vegetable exports expanded modestly to $X in 2022. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 when exports increased by 9.9%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Thailand prevails in exports structure, resulting at X tons, which was near 80% of total exports in 2022. Malaysia (X tons) ranks second in terms of the total exports with an 8.9% share, followed by Vietnam (6.6%). Singapore (X tons) held a relatively small share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of canned vegetables. At the same time, Malaysia (+4.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +4.5% from 2012-2022. By contrast, Vietnam (-3.0%) and Singapore (-3.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia increased by +3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest canned vegetable supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Vietnam, with a 7.6% share.

In Thailand, canned vegetable exports increased at an average annual rate of +1.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-1.8% per year) and Vietnam (+3.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of 8.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 an increase of 12% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.8%), while the other leaders experienced more modest paces of growth.

Canned Vegetable Imports

Imports in ASEAN

In 2022, the amount of canned vegetables imported in ASEAN soared to X tons, with an increase of 22% against the previous year. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.4% against 2018 indices. The growth pace was the most rapid in 2016 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, canned vegetable imports rose markedly to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, the Philippines (X tons), Malaysia (X tons) and Singapore (X tons) was the main importer of canned vegetables in ASEAN, committing 78% of total import. Indonesia (X tons) ranks next in terms of the total imports with a 9.3% share, followed by Thailand (6.9%). Vietnam (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +13.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest canned vegetable importing markets in ASEAN were Singapore ($X), the Philippines ($X) and Malaysia ($X), together accounting for 73% of total imports.

Among the main importing countries, the Philippines, with a CAGR of +24.6%, saw the highest rates of growth with regard to 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

In 2022, the import price in ASEAN amounted to $X per ton, shrinking by -6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2021 an increase of 7.7% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform