Asia: Festive Articles Market 2024

Festive Articles Market Size in Asia

The Asian festive articles market stood at $X in 2022, rising by 2.7% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -23.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Festive Articles Production in Asia

In value terms, festive articles production reached $X in 2022 estimated in export price. In general, production recorded a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 31% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Festive Articles Exports

Exports in Asia

In 2022, approx. X tons of festive or carnival articles were exported in Asia; rising by 16% compared with 2021 figures. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 47%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, festive articles exports surged to $X in 2022. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) was the key exporter of festive or carnival articles in Asia, comprising 96% of total export.

China was also the fastest-growing in terms of the festive or carnival articles exports, with a CAGR of +18.3% from 2012 to 2022. From 2012 to 2022, the share of China increased by +25 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest festive articles supplier in Asia.

From 2012 to 2022, the average annual growth rate of value in China stood at +29.6%.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by 2.4% against the previous year. Overall, the export price posted resilient growth. The most prominent rate of growth was recorded in 2020 an increase of 20%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +9.5% per year.

Festive Articles Imports

Imports in Asia

In 2022, overseas purchases of festive or carnival articles increased by 9.7% to X tons, rising for the second consecutive year after three years of decline. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 38%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, festive articles imports rose to $X in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 34%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

India was the main importer of festive or carnival articles in Asia, with the volume of imports amounting to X tons, which was near 32% of total imports in 2022. Saudi Arabia (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (8.3%) and Malaysia (6.5%). The United Arab Emirates (X tons), South Korea (X tons), Thailand (X tons), Hong Kong SAR (X tons), Iraq (X tons), Singapore (X tons), Bangladesh (X tons), the Philippines (X tons) and Israel (X tons) took a little share of total imports.

Imports into India increased at an average annual rate of +19.9% from 2012 to 2022. At the same time, Bangladesh (+40.0%), Iraq (+24.6%), Thailand (+18.2%), Indonesia (+17.9%), Saudi Arabia (+7.3%), Israel (+7.3%), South Korea (+6.0%), Malaysia (+5.6%), the United Arab Emirates (+5.3%) and Singapore (+3.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia, with a CAGR of +40.0% from 2012-2022. By contrast, the Philippines (-2.7%) and Hong Kong SAR (-18.2%) illustrated a downward trend over the same period. India (+23 p.p.), Indonesia (+5.4 p.p.), Bangladesh (+2.2 p.p.), Thailand (+2.2 p.p.) and Iraq (+2 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines and Hong Kong SAR saw its share reduced by -2.7% and -35% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 27% of total imports. India, the Philippines, Hong Kong SAR, Israel, Singapore, Malaysia, Indonesia, Iraq, Bangladesh and Thailand lagged somewhat behind, together comprising a further 41%.

Bangladesh, with a CAGR of +50.4%, saw the highest rates of growth with regard to the value of imports, in terms of 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 Asia amounted to $X per ton, with a decrease of -5.4% against the previous year. Over the period under review, the import price continues to indicate a perceptible slump. The growth pace was the most rapid in 2018 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 the Philippines ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+34.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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