Asia: Dried Onion Market 2024

Dried Onion Market Size in Asia

In 2021, after nine years of growth, there was significant decline in the Asian dried onion market, when its value decreased by -6.3% to $X. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.2% against 2012 indices. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Dried Onion Production in Asia

In value terms, dried onion production reduced to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.5% against 2013 indices. The pace of growth appeared the most rapid in 2014 with an increase of 20% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

Dried Onion Exports

Exports in Asia

Dried onion exports amounted to X tons in 2021, surging by 13% against the previous year. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.3% against 2016 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 24% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, dried onion exports rose remarkably to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India was the main exporting country with an export of about X tons, which finished at 78% of total exports. It was distantly followed by China (X tons), achieving an 18% share of total exports. Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to dried onion exports from India stood at +5.9%. At the same time, Uzbekistan (+249.7%) and China (+4.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +249.7% from 2012-2021. While the share of Uzbekistan (+2.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest dried onion supplier in Asia, comprising 72% of total exports. The second position in the ranking was taken by China ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +7.7%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+5.6% per year) and Uzbekistan (+151.8% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, standing approx. at the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 23%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Dried Onion Imports

Imports in Asia

In 2021, supplies from abroad of dried onions increased by 34% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 39%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, dried onion imports rose rapidly to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.0% 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 +100.4% against 2012 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 23%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Nepal (X tons) and Indonesia (X tons) represented the major importers of dried onions in 2021, finishing at approx. 26% and 25% of total imports, respectively. Malaysia (X tons) ranks next in terms of the total imports with a 12% share, followed by Japan (11%) and the Philippines (5.5%). Turkey (X tons), South Korea (X tons), Israel (X tons), Singapore (X tons), Thailand (X tons) and Palestine (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Nepal (with a CAGR of +87.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest dried onion importing markets in Asia were Japan ($X), Indonesia ($X) and Nepal ($X), with a combined 59% share of total imports.

Nepal, with a CAGR of +77.1%, recorded the highest growth rate of 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 2021, the import price in Asia amounted to $X per ton, falling by -14.5% against the previous year. In general, the import price saw a pronounced shrinkage. The growth pace was the most rapid in 2014 when the import price increased by 18%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Malaysia ($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 (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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