ASEAN: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in ASEAN

In 2021, the ASEAN prepared dish and meal market increased by 5.6% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 7.6% against the previous year. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Prepared Dishes And Meals in ASEAN

In value terms, prepared dish and meal production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 12% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Prepared Dishes And Meals

Exports in ASEAN

In 2021, approx. X tons of prepared dishes and meals were exported in ASEAN; jumping by 24% against 2020. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +52.9% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal exports skyrocketed to $X in 2021. Over the period under review, exports saw prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 84%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Thailand was the key exporter of prepared dishes and meals in ASEAN, with the volume of exports recording X tons, which was approx. 42% of total exports in 2021. Malaysia (X tons) took the second position in the ranking, followed by Indonesia (X tons) and Singapore (X tons). All these countries together took near 54% share of total exports. Vietnam (X tons) and the Philippines (X tons) held a relatively small share of total exports.

Exports from Thailand increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Vietnam (+19.9%), Indonesia (+15.8%), Singapore (+13.2%), Malaysia (+8.5%) and the Philippines (+2.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +19.9% from 2012-2021. While the share of Indonesia (+8.1 p.p.), Singapore (+5.7 p.p.) and Vietnam (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-14.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest prepared dish and meal supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total exports. It was followed by Malaysia, with an 8.5% share.

In Singapore, prepared dish and meal exports expanded at an average annual rate of +34.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+4.9% per year) and Malaysia (+7.3% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, dropping by -6% against the previous year. In general, the export price, however, continues to indicate resilient growth. The pace of growth was the most pronounced in 2018 an increase of 72%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+18.9%), while the other leaders experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports in ASEAN

In 2021, purchases abroad of prepared dishes and meals increased by 27% to X tons, rising for the sixth year in a row after two years of decline. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +79.6% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.3% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Singapore (X tons), the Philippines (X tons), Malaysia (X tons), Thailand (X tons), Vietnam (X tons), Indonesia (X tons) and Myanmar (X tons) represented roughly 93% of total imports in 2021. It was distantly followed by Cambodia (X tons), comprising a 4.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +13.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 51% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +18.5%, 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 2021, the import price in ASEAN amounted to $X per ton, standing approx. at the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2013 when the import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform