ASEAN: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in ASEAN

The ASEAN food manufacture machinery market soared to $X in 2021, with an increase of 17% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Food Manufacture Machinery Production in ASEAN

In value terms, food manufacture machinery production skyrocketed to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.9% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 33% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Food Manufacture Machinery Exports

Exports in ASEAN

In 2021, after two years of decline, there was growth in shipments abroad of machinery for the preparation or manufacture of food or drink, when their volume increased by 3.7% to X units. Overall, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 32%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, food manufacture machinery exports soared to $X in 2021. Over the period under review, exports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2013 when exports increased by 39%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Thailand (X units) and the Philippines (X units) represented the key exporters of machinery for the preparation or manufacture of food or drink in ASEAN, together accounting for near 67% of total exports. Singapore (X units) held the next position in the ranking, followed by Vietnam (X units). All these countries together held approx. 29% share of total exports. The following exporters - Malaysia (X units) and Indonesia (X units) - each recorded a 4.1% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +55.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 74% share of total exports. The Philippines, Vietnam and Indonesia lagged somewhat behind, together comprising a further 26%.

In terms of the main exporting countries, the Philippines, with a CAGR of +65.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, with an increase of 27% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 27%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+6.4%), while the other leaders experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports in ASEAN

In 2021, the amount of machinery for the preparation or manufacture of food or drink imported in ASEAN surged to X units, with an increase of 39% compared with 2020. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 60%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, food manufacture machinery imports rose sharply to $X in 2021. Overall, imports, however, recorded a mild descent. The pace of growth appeared the most rapid in 2019 when imports increased by 15%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia was the largest importing country with an import of about X units, which reached 65% of total imports. Vietnam (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (11%) and Thailand (6.4%). Singapore (X units) held a minor share of total imports.

Imports into Indonesia increased at an average annual rate of +2.8% from 2012 to 2021. At the same time, Singapore (+10.2%), Malaysia (+9.5%) and Vietnam (+2.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +10.2% from 2012-2021. By contrast, Thailand (-16.0%) illustrated a downward trend over the same period. While the share of Indonesia (+13 p.p.), Malaysia (+6.2 p.p.), Vietnam (+2.2 p.p.) and Singapore (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-25.1 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X), Vietnam ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 71% of total imports.

Vietnam, with a CAGR of +7.0%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in ASEAN stood at $X per unit in 2021, declining by -19.8% against the previous year. Overall, the import price showed a slight decline. The pace of growth was the most pronounced in 2020 an increase of 47% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Indonesia ($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 (+4.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform