ASEAN: Vegetable Puree Market 2024

Vegetable Puree Market Size in ASEAN

The ASEAN vegetable puree market rose remarkably to $X in 2022, picking up by 7.4% against the previous year. The total consumption indicated notable growth 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 decreased by -0.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Vegetable Puree Production in ASEAN

In value terms, vegetable puree production expanded significantly to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 29%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Vegetable Puree Exports

Exports in ASEAN

In 2022, approx. X tons of vegetable puree were exported in ASEAN; reducing by -46% on the previous year. In general, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 50% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, vegetable puree exports declined dramatically to $X in 2022. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 22%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X tons) represented the main exporter of vegetable puree, mixing up 66% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 22% share, followed by Vietnam (7.5%). Indonesia (X tons) followed a long way behind the leaders.

Exports from Thailand decreased at an average annual rate of -13.5% from 2012 to 2022. At the same time, Malaysia (+65.9%), Vietnam (+26.1%) and Indonesia (+1.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +65.9% from 2012-2022. Malaysia (+22 p.p.), Vietnam (+7.2 p.p.) and Indonesia (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -28.7% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest vegetable puree supplier in ASEAN, comprising 78% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total exports. It was followed by Vietnam, with a 5.6% share.

In Thailand, vegetable puree exports contracted by an average annual rate of -8.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+66.3% per year) and Vietnam (+25.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, growing by 6.6% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable puree export price increased by +76.8% against 2015 indices. The pace of growth appeared the most rapid in 2020 an increase of 25%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.6%), while the other leaders experienced more modest paces of growth.

Vegetable Puree Imports

Imports in ASEAN

In 2022, after three years of decline, there was significant growth in overseas purchases of vegetable puree, when their volume increased by 15% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 45% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable puree imports shrank to $X in 2022. Over the period under review, imports, however, continue to indicate a mild decline. The pace of growth appeared the most rapid in 2016 when imports increased by 55%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons) and Cambodia (X tons) represented roughly 60% of total imports in 2022. It was distantly followed by Indonesia (X tons), the Philippines (X tons) and Singapore (X tons), together generating a 30% share of total imports. The following importers - Lao People's Democratic Republic (X tons) and Brunei Darussalam (X tons) - each accounted for an 8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +54.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Cambodia ($X) were the countries with the highest levels of imports in 2022, with a combined 67% share of total imports.

Cambodia, with a CAGR of +52.2%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in ASEAN amounted to $X per ton, shrinking by -15.6% against the previous year. Over the period under review, the import price continues to indicate a mild downturn. The growth pace was the most rapid in 2021 an increase of 44% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform