ASEAN: Chicory Market 2025

Chicory Market Size in ASEAN

After three years of growth, the ASEAN chicory market decreased by -2.3% to $X in 2021. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.6% against 2017 indices. The level of consumption peaked at $X in 2020, and then declined in the following year.

Chicory Production in ASEAN

In value terms, chicory production fell to $X in 2021 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 140%. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

The Philippines (X tons) constituted the country with the largest volume of chicory production, accounting for 94% of total volume. It was followed by Myanmar (X tons), with a 2.9% share of total production.

From 2012 to 2021, the average annual rate of growth in terms of volume in the Philippines was relatively modest. In the other countries, the average annual rates were as follows: Myanmar (+0.7% per year) and Malaysia (+1.1% per year).

In 2021, the average yield of chicory in ASEAN shrank modestly to X tons per ha, almost unchanged from the previous year. Over the period under review, the yield, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 1.1%. Over the period under review, the chicory yield attained the maximum level at X tons per ha in 2016; afterwards, it flattened through to 2021. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, the chicory harvested area in ASEAN reached X ha, leveling off at 2020. Over the period under review, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 3.1%. Over the period under review, the harvested area dedicated to chicory production attained the maximum at X ha in 2016; however, from 2017 to 2021, the harvested area failed to regain momentum.

Chicory Exports

Exports in ASEAN

In 2021, overseas shipments of chicory increased by 67% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 78% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, chicory exports declined to $X in 2021. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2014 when exports increased by 497%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Myanmar (X tons) was the major exporter of chicory, achieving 90% of total exports. It was distantly followed by Vietnam (X tons), making up a 10% share of total exports.

Myanmar experienced a relatively flat trend pattern with regard to volume of exports of chicory. At the same time, Vietnam (+25.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +25.9% from 2012-2021. While the share of Vietnam (+8.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest chicory supplying countries in ASEAN were Vietnam ($X) and Myanmar ($X).

Vietnam, with a CAGR of +51.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with a decrease of -49% against the previous year. Over the period under review, the export price, however, continues to indicate a temperate increase. The pace of growth was the most pronounced in 2014 when the export price increased by 235% against the previous year. The level of export peaked at $X per ton in 2020, and then plummeted in the following year.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while Myanmar stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+20.5%).

Chicory Imports

Imports in ASEAN

In 2021, supplies from abroad of chicory increased by 1,003% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chicory imports soared to $X in 2021. In general, imports continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the one major importers of chicory, namely Vietnam, represented more than two-thirds of total import.

Vietnam was also the fastest-growing in terms of the chicory imports, with a CAGR of +13.9% from 2012 to 2021. From 2012 to 2021, the share of Vietnam increased by +3.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported chicory in ASEAN.

From 2012 to 2021, the average annual growth rate of value in Vietnam amounted to +41.9%.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, rising by 106% against the previous year. In general, the import price showed buoyant growth. The pace of growth was the most pronounced in 2015 when the import price increased by 184%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Vietnam.

From 2012 to 2021, the rate of growth in terms of prices for Vietnam amounted to +24.6% per year.

Source: IndexBox Platform