ASEAN: Vegetable Product Market 2025

Vegetable Product Market Size in ASEAN

In 2022, after three years of decline, there was significant growth in the ASEAN vegetable product market, when its value increased by 9.9% to $X. Over the period under review, consumption, however, continues to indicate a abrupt decrease. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Product Production in ASEAN

In value terms, vegetable product production rose markedly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

The country with the largest volume of vegetable product production was Thailand (X tons), accounting for 46% of total volume. Moreover, vegetable product production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), twofold. The third position in this ranking was taken by the Philippines (X tons), with a 16% share.

In Thailand, vegetable product production declined by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+0.7% per year) and the Philippines (-0.4% per year).

In 2022, the average yield of vegetable products in ASEAN contracted slightly to X tons per ha, reducing by -3.2% on 2021. In general, the yield continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2018 with an increase of 7.6% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the vegetable product yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the vegetable product harvested area in ASEAN reached X ha, picking up by 4.5% compared with 2021. The harvested area increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the vegetable product harvested area remained at a somewhat lower figure.

Vegetable Product Exports

Exports in ASEAN

In 2022, overseas shipments of vegetable products decreased by -12.5% to X tons, falling for the second year in a row after six years of growth. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 61% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable product exports declined to $X in 2022. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 47%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Myanmar (X tons) and Malaysia (X tons) represented roughly 80% of total exports in 2022. Indonesia (X tons) ranks next in terms of the total exports with a 12% share, followed by Thailand (6.8%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Myanmar (with a CAGR of +60.0%), while the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), Vietnam ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2022, together accounting for 82% of total exports.

Myanmar, with a CAGR of +51.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by 8.7% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2014 when the export price increased by 38%. As a result, the export price reached the peak level of $X per ton. 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 Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.1%), while the other leaders experienced a decline in the export price figures.

Vegetable Product Imports

Imports in ASEAN

In 2022, supplies from abroad of vegetable products increased by 9.3% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +78.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 63% against the previous year. 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, vegetable product imports expanded remarkably to $X in 2022. Over the period under review, imports recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 120% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) and Singapore (X tons) represented the main importers of vegetable products in ASEAN, together generating 75% of total imports. Thailand (X tons) took the next position in the ranking, distantly followed by Malaysia (X tons). All these countries together took approx. 19% share of total imports. Cambodia (X tons) and Indonesia (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +36.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported vegetable products in ASEAN, comprising 56% of total imports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total imports. It was followed by Thailand, with a 14% share.

In Vietnam, vegetable product imports increased at an average annual rate of +15.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+39.9% per year) and Thailand (-1.5% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a pronounced increase. The pace of growth was the most pronounced in 2019 an increase of 47%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

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 Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform