ASEAN: Candied Fruit Market 2024

Candied Fruit Market Size in ASEAN

For the third year in a row, the ASEAN candied fruit market recorded growth in sales value, which increased by 2.8% to $X in 2021. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.9% 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 +49.6% against 2014 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Candied Fruit Production in ASEAN

In value terms, candied fruit production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

The country with the largest volume of candied fruit production was Thailand (X tons), accounting for 61% of total volume. Moreover, candied fruit production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), threefold. The third position in this ranking was taken by Vietnam (X tons), with a 9.7% share.

In Thailand, candied fruit production remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+6.3% per year) and Vietnam (+6.3% per year).

Candied Fruit Exports

Exports in ASEAN

In 2021, shipments abroad of candied fruits was finally on the rise to reach X tons after three years of decline. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 37% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, candied fruit exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 33% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand dominates exports structure, accounting for X tons, which was approx. 93% of total exports in 2021. It was distantly followed by Vietnam (X tons), creating a 4.8% share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of candied fruits. At the same time, Vietnam (+21.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +21.3% from 2012-2021. Vietnam (+3.9 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 ($X) remains the largest candied fruit supplier in ASEAN, comprising 95% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 3.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled +3.0%.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2015 when the export price increased by 16%. The level of export peaked at $X per ton in 2020, and then dropped modestly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Vietnam stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.7%).

Candied Fruit Imports

Imports in ASEAN

In 2021, the amount of candied fruits imported in ASEAN expanded modestly to X tons, surging by 2.5% compared with the year before. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +53.7% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 50%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, candied fruit imports skyrocketed to $X in 2021. In general, imports recorded a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Thailand was the key importer of candied fruits in ASEAN, with the volume of imports amounting to X tons, which was near 59% of total imports in 2021. Malaysia (X tons) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (8.3%) and Singapore (6.9%). The following importers - Indonesia (X tons) and the Philippines (X tons) - together made up 5.4% of total imports.

From 2012 to 2021, average annual rates of growth with regard to candied fruit imports into Thailand stood at +16.1%. At the same time, Vietnam (+37.2%), Indonesia (+19.2%), the Philippines (+13.1%) and Malaysia (+10.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +37.2% from 2012-2021. By contrast, Singapore (-10.4%) illustrated a downward trend over the same period. While the share of Thailand (+24 p.p.), Vietnam (+7.3 p.p.), Malaysia (+2 p.p.) and Indonesia (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-35.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported candied fruits in ASEAN, comprising 46% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 21% share of total imports. It was followed by Vietnam, with a 14% share.

In Thailand, candied fruit imports increased at an average annual rate of +22.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+16.1% per year) and Vietnam (+42.0% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, increasing by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2015 an increase of 18%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform