Asia-Pacific: Frozen Vegetable Market 2024

Frozen Vegetable Market Size in Asia-Pacific

In 2022, the Asia-Pacific frozen vegetable market increased by X% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Frozen Vegetable Production in Asia-Pacific

In value terms, frozen vegetable production reduced 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 remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Frozen Vegetable Exports

Exports in Asia-Pacific

For the seventh year in a row, Asia-Pacific recorded growth in overseas shipments of frozen vegetables, which increased by X% to X tons in 2022. The total export 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 throughout the analyzed period. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, frozen vegetable exports rose notably to $X in 2022. The total export value 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. As a result, the exports attained 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 near X% of total exports in 2022. India (X tons) took the second position in the ranking, followed by New Zealand (X tons). All these countries together held near X% share of total exports. Thailand (X tons) and Vietnam (X tons) followed a long way behind the leaders.

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

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

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

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2016; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while New Zealand ($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-Pacific

In 2022, the amount of frozen vegetables imported in Asia-Pacific fell to X tons, approximately equating the year before. 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 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen vegetable imports expanded remarkably to $X in 2022. The total import value 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 throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan represented the main importer of frozen vegetables in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by South Korea (X tons), Australia (X tons), the Philippines (X tons) and Malaysia (X tons), together comprising a X% share of total imports. The following importers - Indonesia (X tons), Thailand (X tons) and China (X tons) - together made up X% of total imports.

Imports into Japan increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%), Indonesia (X%), Thailand (X%), Malaysia (X%) and South Korea (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, South Korea, Malaysia and Indonesia 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, Japan ($X) constitutes the largest market for imported frozen vegetables in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Australia, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Australia (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing 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 ($X per ton), while South Korea ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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