Asia: Frozen Potato Market 2024

Frozen Potato Market Size in Asia

In 2021, the Asian frozen potato market increased by 1.9% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Frozen Potato Production in Asia

In value terms, frozen potato production expanded to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Frozen Potato Exports

Exports in Asia

In 2021, shipments abroad of frozen potatoes increased by 39% to X tons, rising for the sixth year in a row after three years of decline. Overall, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 with an increase of 66% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, frozen potato exports skyrocketed to $X in 2021. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 45% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) and India (X tons) represented roughly 55% of total exports in 2021. It was distantly followed by China (X tons) and Pakistan (X tons), together constituting a 32% share of total exports. The following exporters - the United Arab Emirates (X tons), Syrian Arab Republic (X tons) and Vietnam (X tons) - together made up 7.1% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +49.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato supplying countries in Asia were China ($X), Turkey ($X) and India ($X), with a combined 77% share of total exports.

Turkey, with a CAGR of +43.0%, 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 2021, the export price in Asia amounted to $X per ton, dropping by -3.8% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen potato export price decreased by -36.1% against 2015 indices. The most prominent rate of growth was recorded in 2013 an increase of 45%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Pakistan ($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 (+3.7%), while the other leaders experienced more modest paces of growth.

Frozen Potato Imports

Imports in Asia

In 2021, approx. X tons of frozen potatoes were imported in Asia; surging by 9.3% compared with the previous year's figure. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, frozen potato imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 11%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons) and Saudi Arabia (X tons) represented roughly 35% of total imports in 2021. Malaysia (X tons) took an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (7.2%) and South Korea (6.8%). Taiwan (Chinese) (X tons), Indonesia (X tons), the United Arab Emirates (X tons), China (X tons), Thailand (X tons), Jordan (X tons), Singapore (X tons) and Kuwait (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +13.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato importing markets in Asia were Japan ($X), Saudi Arabia ($X) and South Korea ($X), together accounting for 46% of total imports. The Philippines, Malaysia, Taiwan (Chinese), Indonesia, China, the United Arab Emirates, Thailand, Singapore, Kuwait and Jordan lagged somewhat behind, together comprising a further 41%.

Indonesia, with a CAGR of +13.1%, saw the highest growth rate of 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 2021, the import price in Asia amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 8.5%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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