Asia: Pasta Products Market 2024

Pasta Products Market Size in Asia

The Asian pasta products market rose slightly to $X in 2022, increasing by 4.2% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Pasta Products Production in Asia

In value terms, pasta products production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pasta Products Exports

Exports in Asia

In 2022, overseas shipments of dried, undried and frozen pasta and pasta products increased by 7.2% to X tons, rising for the sixth consecutive year after two years of decline. Total exports indicated a strong increase from 2012 to 2022: its volume 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, exports increased by +79.1% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, pasta products exports expanded sharply to $X in 2022. Overall, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 18%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

China represented the largest exporting country with an export of around X tons, which reached 34% of total exports. It was distantly followed by South Korea (X tons), Indonesia (X tons), Thailand (X tons), Vietnam (X tons) and Turkey (X tons), together achieving a 50% share of total exports. Kazakhstan (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by South Korea (with a CAGR of +14.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 64% of total exports. Indonesia, Vietnam, Turkey and Kazakhstan lagged somewhat behind, together accounting for a further 20%.

Kazakhstan, with a CAGR of +20.8%, recorded the highest rates of growth with regard to 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

The export price in Asia stood at $X per ton in 2022, rising by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2016 when the export price increased by 14% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+8.4%), while the other leaders experienced more modest paces of growth.

Pasta Products Imports

Imports in Asia

In 2022, imports of dried, undried and frozen pasta and pasta products in Asia skyrocketed to X tons, picking up by 27% on 2021. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.4% 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 +106.5% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, pasta products imports stood at $X in 2022. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 18%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) was the major importer of dried, undried and frozen pasta and pasta products, constituting 32% of total imports. China (X tons) took the second position in the ranking, followed by Hong Kong SAR (X tons). All these countries together held near 22% share of total imports. The Philippines (X tons), Iraq (X tons), Japan (X tons), Singapore (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Indonesia (X tons) and Georgia (X tons) followed a long way behind the leaders.

Imports into Malaysia increased at an average annual rate of +14.1% from 2012 to 2022. At the same time, Indonesia (+15.5%), China (+15.1%), Vietnam (+13.4%), Georgia (+9.6%), Japan (+9.2%), Taiwan (Chinese) (+9.1%), Singapore (+6.6%), the Philippines (+5.9%), Hong Kong SAR (+3.8%), the United Arab Emirates (+2.5%) and Kazakhstan (+1.4%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia, with a CAGR of +15.5% from 2012-2022. Iraq experienced a relatively flat trend pattern. While the share of Malaysia (+14 p.p.) and China (+5.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kazakhstan (-2.1 p.p.), Iraq (-3.1 p.p.) and Hong Kong SAR (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pasta products importing markets in Asia were China ($X), Hong Kong SAR ($X) and Malaysia ($X), with a combined 45% share of total imports.

In terms of the main importing countries, China, with a CAGR of +19.8%, 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

The import price in Asia stood at $X per ton in 2022, reducing by -19.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 7.2%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then fell markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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