ASEAN: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in ASEAN

The ASEAN agricultural product dryer market contracted to $X in 2021, declining by -8.2% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Agricultural Product Dryer Production in ASEAN

In value terms, agricultural product dryer production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2018 when the production volume increased by 108%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Agricultural Product Dryer Exports

Exports in ASEAN

In 2021, shipments abroad of dryers for the treatment of agricultural products decreased by -15.3% to X units, falling for the third year in a row after three years of growth. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 98%. Over the period under review, the exports attained the maximum at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, agricultural product dryer exports contracted markedly to $X in 2021. In general, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 105%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Malaysia (X units) was the largest exporter of dryers for the treatment of agricultural products, achieving 42% of total exports. The Philippines (X units) ranks second in terms of the total exports with a 27% share, followed by Thailand (14%) and Cambodia (11%). The following exporters - Vietnam (X units) and Singapore (X units) - together made up 5% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +66.3%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the largest agricultural product dryer supplier in ASEAN, comprising 64% of total exports. The second position in the ranking was taken by Thailand ($X), with a 21% share of total exports. It was followed by Vietnam, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia totaled -9.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.0% per year) and Vietnam (-0.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, declining by -56.3% against the previous year. Over the period under review, the export price recorded a abrupt descent. The growth pace was the most rapid in 2020 when the export price increased by 59% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.6%), while the other leaders experienced a decline in the export price figures.

Agricultural Product Dryer Imports

Imports in ASEAN

Agricultural product dryer imports amounted to X units in 2021, leveling off at the previous year's figure. In general, imports showed resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 163% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, agricultural product dryer imports declined markedly to $X in 2021. Over the period under review, imports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2017 when imports increased by 36% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Philippines represented the major importer of dryers for the treatment of agricultural products in ASEAN, with the volume of imports finishing at X units, which was approx. 75% of total imports in 2021. It was distantly followed by Vietnam (X units), Indonesia (X units) and Malaysia (X units), together creating a 20% share of total imports. Thailand (X units) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to agricultural product dryer imports into the Philippines stood at +26.9%. At the same time, Vietnam (+42.3%), Malaysia (+13.2%) and Thailand (+7.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +42.3% from 2012-2021. By contrast, Indonesia (-10.4%) illustrated a downward trend over the same period. The Philippines (+43 p.p.) and Vietnam (+9 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -43.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agricultural product dryer importing markets in ASEAN were Indonesia ($X), Thailand ($X) and the Philippines ($X), with a combined 63% share of total imports. Vietnam and Malaysia lagged somewhat behind, together comprising a further 21%.

Among the main importing countries, Vietnam, with a CAGR of +10.3%, 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

In 2021, the import price in ASEAN amounted to $X per unit, dropping by -21.2% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 51% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform