ASEAN: Festive Articles Market 2024

Festive Articles Market Size in ASEAN

The ASEAN festive articles market was estimated at $X in 2022, with an increase of 2.6% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 -7.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Festive Articles Production in ASEAN

In value terms, festive articles production fell modestly to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -8.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 77%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Festive Articles Exports

Exports in ASEAN

In 2022, approx. X tons of festive or carnival articles were exported in ASEAN; picking up by 7.9% compared with 2021 figures. Total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 52%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, festive articles exports reached $X in 2022. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 87% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 60% of total exports in 2022. Thailand (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (11%), Malaysia (5.6%) and Cambodia (5%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +83.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest festive articles supplying countries in ASEAN were Vietnam ($X), Thailand ($X) and the Philippines ($X), together comprising 78% of total exports. Indonesia, Cambodia, Malaysia and Singapore lagged somewhat behind, together accounting for a further 22%.

Among the main exporting countries, Cambodia, with a CAGR of +72.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with a decrease of -6.6% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, festive articles export price increased by +25.9% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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 Thailand ($X per ton), while Indonesia ($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 (+9.1%), while the other leaders experienced more modest paces of growth.

Festive Articles Imports

Imports in ASEAN

In 2022, supplies from abroad of festive or carnival articles increased by 16% to X tons, rising for the second year in a row after three years of decline. Overall, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 103% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, festive articles imports expanded rapidly to $X in 2022. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 68% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons) and Malaysia (X tons) were the major importers of festive or carnival articles in ASEAN, together constituting 63% of total imports. Thailand (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (11%) and the Philippines (8.3%). The following importers - Myanmar (X tons) and Vietnam (X tons) - each amounted to a 3.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +82.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, with a combined 67% share of total imports. Indonesia, Thailand, Vietnam and Myanmar lagged somewhat behind, together accounting for a further 32%.

Myanmar, with a CAGR of +33.4%, saw the highest growth rate of the value of imports, among the main importing countries 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, with a decrease of -3.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 58%. Over the period under review, import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 the Philippines ($X per ton), while Myanmar ($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 (+34.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform