Asia: Frozen Vegetable Market 2024

Frozen Vegetable Market Size in Asia

In 2022, the Asian frozen vegetable market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Frozen Vegetable Production in Asia

In value terms, frozen vegetable production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Frozen Vegetable Exports

Exports in Asia

For the seventh year in a row, Asia recorded growth in overseas shipments of frozen vegetables, which increased by X% to X tons in 2022. Total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2013 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, frozen vegetable exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. India (X tons) ranks second in terms of the total exports with an X% share, followed by Turkey (X%). The following exporters - Thailand (X tons), Vietnam (X tons) and Iran (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen vegetable exports from China stood at X%. At the same time, Iran (X%), Turkey (X%), India (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, India, China and Iran increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen vegetable supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, 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 Thailand ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Frozen Vegetable Imports

Imports in Asia

In 2022, the amount of frozen vegetables imported in Asia fell modestly to X tons, waning by X% compared with 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, frozen vegetable imports amounted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Japan was the major importer of frozen vegetables in Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. South Korea (X tons) took the second position in the ranking, followed by Saudi Arabia (X tons), the Philippines (X tons), Malaysia (X tons) and the United Arab Emirates (X tons). All these countries together held approx. X% share of total imports. Kuwait (X tons), Indonesia (X tons), Thailand (X tons), China (X tons), Hong Kong SAR (X tons), Iraq (X tons) and Jordan (X tons) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), the Philippines (X%), Indonesia (X%), Jordan (X%), Thailand (X%), Kuwait (X%), Malaysia (X%), South Korea (X%), Saudi Arabia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, China (X%) illustrated a downward trend over the same period. The Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while Japan and China saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported frozen vegetables in Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In Japan, frozen vegetable imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Iraq ($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 United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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