ASEAN: Spinach Market 2025

Spinach Market Size in ASEAN

After four years of growth, the ASEAN spinach market decreased by -12.5% to $X in 2022. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +44.0% against 2017 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Spinach Production in ASEAN

In value terms, spinach production shrank remarkably to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +55.9% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 41%. As a result, production attained the peak level of $X, and then declined significantly in the following year.

The country with the largest volume of spinach production was Indonesia (X tons), comprising approx. 68% of total volume. Moreover, spinach production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia (X tons), twofold.

In Indonesia, spinach production remained relatively stable over the period from 2012-2022.

The average spinach yield rose to X tons per ha in 2022, picking up by 2.1% compared with 2021 figures. The yield figure increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 when the yield increased by 15% against the previous year. The level of yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of spinach in ASEAN fell slightly to X ha, with a decrease of -4.9% against the year before. Overall, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the harvested area increased by 11% against the previous year. As a result, the harvested area reached the peak level of X ha, and then dropped slightly in the following year.

Spinach Exports

Exports in ASEAN

Spinach exports amounted to X tons in 2022, remaining stable against the previous year's figure. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 +12.5% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 52% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, spinach exports reduced slightly to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 38%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, Malaysia (X tons) was the largest exporter of spinach in ASEAN, generating 99% of total export.

Malaysia was also the fastest-growing in terms of the spinach exports, with a CAGR of +1.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) also remains the largest spinach supplier in ASEAN.

In Malaysia, spinach exports increased at an average annual rate of +3.1% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, falling by -2.9% against the previous year. In general, the export price, however, saw modest growth. The most prominent rate of growth was recorded in 2020 when the export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +1.4% per year.

Spinach Imports

Imports in ASEAN

In 2022, purchases abroad of spinach decreased by -5.8% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 14%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, spinach imports reached $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +83.1% against 2012 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 20% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Singapore dominates imports structure, resulting at X tons, which was approx. 81% of total imports in 2022. It was distantly followed by Thailand (X tons) and Malaysia (X tons), together mixing up a 17% share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of spinach. At the same time, Malaysia (+7.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +7.8% from 2012-2022. By contrast, Thailand (-2.3%) illustrated a downward trend over the same period. While the share of Malaysia (+4.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-2.4 p.p.) and Singapore (-2.9 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) constitutes the largest market for imported spinach in ASEAN, comprising 72% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled +4.5%. In the other countries, the average annual rates were as follows: Malaysia (+15.7% per year) and Thailand (+6.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, surging by 6.5% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spinach import price increased by +69.5% against 2013 indices. The growth pace was the most rapid in 2021 an increase of 15%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform