Asia-Pacific: Canned Vegetable Market 2024

Canned Vegetable Market Size in Asia-Pacific

The Asia-Pacific canned vegetable market reached $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when the market value increased by 5% against the previous year. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Canned Vegetable Production in Asia-Pacific

In value terms, canned vegetable production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 12%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Canned Vegetable Exports

Exports in Asia-Pacific

In 2022, exports of canned vegetables in Asia-Pacific amounted to X tons, rising by 2.4% against the year before. The total export volume increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when exports increased by 6.1% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, canned vegetable exports rose significantly to $X in 2022. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 16%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China represented the major exporter of canned vegetables in Asia-Pacific, with the volume of exports accounting for X tons, which was near 72% of total exports in 2022. It was distantly followed by Thailand (X tons), constituting a 15% share of total exports. South Korea (X tons), New Zealand (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to canned vegetable exports from China stood at +1.4%. At the same time, Malaysia (+4.5%) and South Korea (+4.5%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +4.5% from 2012-2022. Thailand and New Zealand experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest canned vegetable supplier in Asia-Pacific, comprising 73% of total exports. The second position in the ranking was taken by Thailand ($X), with a 10% share of total exports. It was followed by South Korea, with a 5% share.

In China, canned vegetable exports increased at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+1.4% per year) and South Korea (+3.5% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2021 when the export price increased by 16%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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 South Korea ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the other leaders experienced more modest paces of growth.

Canned Vegetable Imports

Imports in Asia-Pacific

In 2022, canned vegetable imports in Asia-Pacific rose markedly to X tons, with an increase of 5.7% against the previous year. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2016 with an increase of 8.2% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, canned vegetable imports expanded notably to $X in 2022. The total import value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons) and South Korea (X tons) were the major importers of canned vegetables in 2022, amounting to near 31% and 31% of total imports, respectively. It was distantly followed by Australia (X tons), constituting a 13% share of total imports. The following importers - the Philippines (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), New Zealand (X tons) and Singapore (X tons) - together made up 18% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +13.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported canned vegetables in Asia-Pacific, comprising 37% of total imports. The second position in the ranking was held by South Korea ($X), with an 18% share of total imports. It was followed by Australia, with a 14% share.

In Japan, canned vegetable imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+7.0% per year) and Australia (+3.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 an increase of 9.5%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 Hong Kong SAR ($X per ton), while South Korea ($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 (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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