Asia-Pacific: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in Asia-Pacific

The Asia-Pacific tomato ketchup market rose slightly to $X in 2022, growing by 2.3% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 8.3% against the previous year. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Tomato Ketchup Production in Asia-Pacific

In value terms, tomato ketchup production rose to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 9.7% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Tomato Ketchup Exports

Exports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in shipments abroad of tomato ketchup and tomato sauces, when their volume decreased by -16.8% to X tons. The total export volume increased at an average annual rate of +1.5% 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 2014 with an increase of 27%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, tomato ketchup exports contracted to $X in 2022. The total export value increased at an average annual rate of +1.9% 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 2014 with an increase of 23% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China was the main exporter of tomato ketchup and tomato sauces in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 31% of total exports in 2022. New Zealand (X tons) took the second position in the ranking, followed by Thailand (X tons), Australia (X tons), Malaysia (X tons), Vietnam (X tons) and India (X tons). All these countries together took approx. 55% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of tomato ketchup and tomato sauces. At the same time, Australia (+10.2%), India (+7.4%), Thailand (+5.4%) and Vietnam (+2.5%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +10.2% from 2012-2022. New Zealand experienced a relatively flat trend pattern. By contrast, Malaysia (-4.0%) illustrated a downward trend over the same period. While the share of Australia (+5.3 p.p.), Thailand (+3 p.p.) and India (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-5 p.p.) and Malaysia (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), New Zealand ($X) and Australia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 49% share of total exports. Thailand, Malaysia, India and Vietnam lagged somewhat behind, together accounting for a further 34%.

In terms of the main exporting countries, India, with a CAGR of +9.8%, saw the highest rates of growth with regard to the value of exports, 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 2022, surging by 7.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 10% against the previous year. As a result, the export price reached the peak level of $X per ton; 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 India ($X per ton), while Vietnam ($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 (+2.3%), while the other leaders experienced more modest paces of growth.

Tomato Ketchup Imports

Imports in Asia-Pacific

Tomato ketchup imports rose significantly to X tons in 2022, surging by 7.7% against 2021 figures. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tomato ketchup imports amounted to $X in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Australia (X tons), distantly followed by South Korea (X tons), Japan (X tons), Hong Kong SAR (X tons), New Zealand (X tons), China (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and the Philippines (X tons) represented the main importers of tomato ketchup and tomato sauces, together achieving 79% of total imports. Indonesia (X tons), Vietnam (X tons), Malaysia (X tons) and Cambodia (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tomato ketchup imports into Australia stood at -1.3%. At the same time, Indonesia (+19.8%), Cambodia (+10.6%), Vietnam (+6.9%), China (+6.2%), Taiwan (Chinese) (+3.9%), Japan (+2.5%), South Korea (+2.4%) and Malaysia (+1.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +19.8% from 2012-2022. New Zealand, Hong Kong SAR and the Philippines experienced a relatively flat trend pattern. By contrast, Singapore (-3.0%) illustrated a downward trend over the same period. While the share of China (+2.8 p.p.) and Indonesia (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-2.5 p.p.) and Australia (-5.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported tomato ketchup and tomato sauces in Asia-Pacific, comprising 26% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.7% share of total imports. It was followed by Hong Kong SAR, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at +10.7%. In the other countries, the average annual rates were as follows: South Korea (+3.6% per year) and Hong Kong SAR (+1.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2020 when the import price increased by 13% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to continue 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 Singapore ($X per ton), while the Philippines ($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 (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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