Asia-Pacific: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Asia-Pacific

The Asia-Pacific preserved sweet corn market fell to $X in 2022, remaining constant against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the market value increased by 9.6%. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Preserved Sweet Corn Production in Asia-Pacific

In value terms, preserved sweet corn production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 8.8%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

The country with the largest volume of preserved sweet corn production was Thailand (X tons), comprising approx. 63% of total volume. Moreover, preserved sweet corn production in Thailand exceeded the figures recorded by the second-largest producer, China (X tons), twofold. New Zealand (X tons) ranked third in terms of total production with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Thailand was relatively modest. In the other countries, the average annual rates were as follows: China (-0.3% per year) and New Zealand (-1.5% per year).

Preserved Sweet Corn Exports

Exports in Asia-Pacific

In 2022, the amount of sweet corn prepared or preserved exported in Asia-Pacific amounted to X tons, growing by 11% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.5% 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 exports increased by 19%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, preserved sweet corn exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 16% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Thailand represented the main exporting country with an export of around X tons, which resulted at 62% of total exports. It was distantly followed by China (X tons), mixing up a 34% share of total exports. Vietnam (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +12.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sweet corn supplying countries in Asia-Pacific were Thailand ($X), China ($X) and Vietnam ($X), together comprising 97% of total exports.

Vietnam, with a CAGR of +16.3%, saw 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 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by 2.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 16% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Preserved Sweet Corn Imports

Imports in Asia-Pacific

In 2022, the amount of sweet corn prepared or preserved imported in Asia-Pacific reached X tons, remaining stable against the previous year. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 14% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, preserved sweet corn imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 5.9% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

The purchases of the four major importers of sweet corn prepared or preserved, namely Japan, South Korea, Taiwan (Chinese) and the Philippines, represented more than two-thirds of total import. Australia (X tons) ranks next in terms of the total imports with a 5.5% share, followed by Hong Kong SAR (5.3%). Malaysia (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +8.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported sweet corn prepared or preserved in Asia-Pacific, comprising 39% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

In Japan, preserved sweet corn imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+2.0% per year) and Taiwan (Chinese) (+1.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, picking up by 3.6% against the previous year. Overall, the import price saw modest growth. The growth pace was the most rapid in 2017 an increase of 6.3%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+11.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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