ASEAN: Mushroom And Truffle Market 2024

Mushroom And Truffle Market Size in ASEAN

In 2022, after six years of growth, there was significant decline in the ASEAN mushroom and truffle market, when its value decreased by -9.3% to $X. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.2% against 2015 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted in the following year.

Mushroom And Truffle Production in ASEAN

In value terms, mushroom and truffle production surged to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a strong expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 107%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Indonesia (X tons) remains the largest mushroom and truffle producing country in ASEAN, comprising approx. 71% of total volume. Moreover, mushroom and truffle production in Indonesia exceeded the figures recorded by the second-largest producer, Vietnam (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume in Indonesia amounted to +4.3%.

Mushroom And Truffle Exports

Exports in ASEAN

In 2022, shipments abroad of mushrooms and truffles increased by 15% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +72.7% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, mushroom and truffle exports shrank to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 19% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the two major exporters of mushrooms and truffles, namely Thailand and Malaysia, represented more than two-thirds of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +11.8%).

In value terms, Malaysia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022.

Thailand, with a CAGR of +2.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, shrinking by -21% against the previous year. Overall, the export price recorded a abrupt downturn. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Malaysia ($X per ton), while Thailand stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-7.5%).

Mushroom And Truffle Imports

Imports in ASEAN

In 2022, approx. X tons of mushrooms and truffles were imported in ASEAN; surging by 11% compared with 2021 figures. Over the period under review, imports continue to indicate a strong increase. The growth pace was the most rapid in 2018 with an increase of 36%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, mushroom and truffle imports declined to $X in 2022. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

Vietnam was the largest importer of mushrooms and truffles in ASEAN, with the volume of imports accounting for X tons, which was near 56% of total imports in 2022. Thailand (X tons) ranks second in terms of the total imports with a 17% share, followed by Singapore (11%) and Malaysia (11%). Indonesia (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the mushrooms and truffles imports, with a CAGR of +55.2% from 2012 to 2022. At the same time, the Philippines (+24.0%), Malaysia (+9.5%), Indonesia (+8.9%), Thailand (+8.1%) and Singapore (+5.8%) displayed positive paces of growth. While the share of Vietnam (+53 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-2.9 p.p.), Malaysia (-10.1 p.p.), Singapore (-19.5 p.p.) and Thailand (-20.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported mushrooms and truffles in ASEAN, comprising 45% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by Singapore, with a 16% share.

In Vietnam, mushroom and truffle imports expanded at an average annual rate of +33.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+13.1% per year) and Singapore (+1.1% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, shrinking by -18.1% against the previous year. In general, the import price continues to indicate a noticeable descent. The growth pace was the most rapid in 2021 when the import price increased by 5.3% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 ($X per ton), while Vietnam ($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 (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform