ASEAN: Ginger Market 2024

Ginger Market Size in ASEAN

In 2022, the ASEAN ginger market decreased by -13.3% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 -15.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Ginger Production in ASEAN

In value terms, ginger production rose rapidly to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Indonesia (X tons), Thailand (X tons) and Myanmar (X tons), together comprising 92% of total production.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +7.9%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of ginger in ASEAN fell to X tons per ha, waning by -5.4% against the previous year's figure. The yield figure increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the yield increased by 21%. Over the period under review, the ginger yield hit record highs at X tons per ha in 2021, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ginger production in ASEAN dropped to X ha, waning by -5.7% on 2021. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 20%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the ginger harvested area remained at a lower figure.

Ginger Exports

Exports in ASEAN

In 2022, overseas shipments of ginger were finally on the rise to reach X tons after four years of decline. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 112% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ginger exports reached $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 163% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand dominates exports structure, finishing at X tons, which was approx. 85% of total exports in 2022. Myanmar (X tons), Vietnam (X tons), Malaysia (X tons), Lao People's Democratic Republic (X tons) and Indonesia (X tons) held a little share of total exports.

Exports from Thailand increased at an average annual rate of +13.7% from 2012 to 2022. At the same time, Lao People's Democratic Republic (+45.2%), Myanmar (+27.9%), Indonesia (+5.9%) and Vietnam (+4.6%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +45.2% from 2012-2022. By contrast, Malaysia (-1.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Myanmar increased by +11 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest ginger supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total exports. It was followed by Myanmar, with a 5.6% share.

In Thailand, ginger exports expanded at an average annual rate of +9.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+10.0% per year) and Myanmar (+20.2% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, shrinking by -23.7% against the previous year. In general, the export price showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 24% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($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 (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Ginger Imports

Imports in ASEAN

In 2022, purchases abroad of ginger decreased by -22.6% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 56% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, ginger imports contracted rapidly to $X in 2022. Overall, imports, however, posted a slight expansion. The growth pace was the most rapid in 2019 with an increase of 60%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia was the key importer of ginger in ASEAN, with the volume of imports resulting at X tons, which was near 35% of total imports in 2022. Thailand (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (13%), Singapore (10%), Indonesia (10%) and the Philippines (9.9%). Brunei Darussalam (X tons) followed a long way behind the leaders.

Imports into Malaysia decreased at an average annual rate of -2.8% from 2012 to 2022. At the same time, the Philippines (+67.0%), Brunei Darussalam (+20.4%), Thailand (+9.6%) and Singapore (+5.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +67.0% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, the Philippines, Singapore and Brunei Darussalam increased by +10, +9.8, +3.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ginger importing markets in ASEAN were Malaysia ($X), Thailand ($X) and Vietnam ($X), together comprising 63% of total imports. Singapore, Indonesia, the Philippines and Brunei Darussalam lagged somewhat behind, together accounting for a further 36%.

Among the main importing countries, the Philippines, with a CAGR of +54.8%, saw 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 2022, the import price in ASEAN amounted to $X per ton, which is down by -17.2% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 31%. Over the period under review, import prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($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 (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform