Asia-Pacific: Canned Food Market 2024

Canned Food Market Size in Asia-Pacific

In 2021, the Asia-Pacific canned food market decreased by -0.5% to $X, falling for the second year in a row after eight years of growth. Over the period under review, consumption, however, posted a strong increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Canned Food Production in Asia-Pacific

In value terms, canned food production stood at $X in 2021 estimated in export price. In general, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 31% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Canned Food Exports

Exports in Asia-Pacific

After two years of decline, overseas shipments of canned food increased by 3.4% to X tons in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 5.3%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, canned food exports rose significantly to $X in 2021. The total export value increased at an average annual rate of +4.0% over the period from 2012 to 2021; 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

In 2021, China (X tons) and Thailand (X tons) were the key exporters of canned food in Asia-Pacific, together accounting for approx. 67% of total exports. The Philippines (X tons) held a 6.2% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (5.3%), New Zealand (5.2%) and India (4.6%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for New Zealand (with a CAGR of +8.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest canned food supplying countries in Asia-Pacific were China ($X), Thailand ($X) and New Zealand ($X), together comprising 76% of total exports.

New Zealand, with a CAGR of +17.6%, recorded the highest growth rate of the value of exports, in terms of 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-Pacific stood at $X per ton in 2021, increasing by 8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2018 when the export price increased by 9% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was New Zealand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+8.4%), while the other leaders experienced more modest paces of growth.

Canned Food Imports

Imports in Asia-Pacific

In 2021, overseas purchases of canned food decreased by -3.7% to X tons, falling for the third year in a row after three years of growth. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 9.2% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, canned food imports fell slightly to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 13%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan represented the main importer of canned food in Asia-Pacific, with the volume of imports finishing at X tons, which was approx. 35% of total imports in 2021. South Korea (X tons) ranks second in terms of the total imports with a 16% share, followed by China (10%), Australia (8.2%) and Hong Kong SAR (7.4%). Malaysia (X tons), the Philippines (X tons), Singapore (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons) and New Zealand (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of canned food. At the same time, China (+12.1%), the Philippines (+4.9%), South Korea (+4.2%), Vietnam (+3.7%), Malaysia (+2.3%), Singapore (+2.2%) and Taiwan (Chinese) (+2.0%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +12.1% from 2012-2021. New Zealand experienced a relatively flat trend pattern. By contrast, Australia (-1.5%) and Hong Kong SAR (-4.7%) illustrated a downward trend over the same period. While the share of China (+6.1 p.p.) and South Korea (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-2.2 p.p.), Hong Kong SAR (-5.2 p.p.) and Japan (-5.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 70% of total imports.

In terms of the main importing countries, China, with a CAGR of +17.3%, saw the highest rates of growth with regard to 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-Pacific stood at $X per ton in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2017 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2020, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while South Korea ($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 Philippines (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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