Asia-Pacific: Vegetable Puree Market 2024

Vegetable Puree Market Size in Asia-Pacific

The Asia-Pacific vegetable puree market expanded notably to $X in 2022, picking up by 5.3% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Vegetable Puree Production in Asia-Pacific

In value terms, vegetable puree production expanded remarkably to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 33% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Vegetable Puree Exports

Exports in Asia-Pacific

In 2022, overseas shipments of vegetable puree decreased by -34.8% to X tons, falling for the eighth year in a row after three years of growth. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 21% against the previous year. 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, vegetable puree exports reduced dramatically to $X in 2022. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 14% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand represented the main exporter of vegetable puree in Asia-Pacific, with the volume of exports amounting to X tons, which was near 40% of total exports in 2022. It was distantly followed by Australia (X tons), Malaysia (X tons), Pakistan (X tons), India (X tons) and Vietnam (X tons), together comprising a 48% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vegetable puree exports from Thailand stood at -13.5%. At the same time, Malaysia (+65.9%), Pakistan (+47.3%) and Vietnam (+26.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +65.9% from 2012-2022. By contrast, Australia (-7.9%), Taiwan (Chinese) (-8.3%) and India (-27.2%) illustrated a downward trend over the same period. While the share of Malaysia (+14 p.p.), Pakistan (+8.8 p.p.), Australia (+6 p.p.) and Vietnam (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-4.9 p.p.) and India (-31.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest vegetable puree supplier in Asia-Pacific, comprising 51% of total exports. The second position in the ranking was taken by Australia ($X), with a 13% share of total exports. It was followed by Malaysia, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value in Thailand stood at -8.7%. In the other countries, the average annual rates were as follows: Australia (-10.1% per year) and Malaysia (+66.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, waning by -6.7% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable puree export price decreased by -13.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 18%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.9%), while the other leaders experienced more modest paces of growth.

Vegetable Puree Imports

Imports in Asia-Pacific

In 2022, vegetable puree imports in Asia-Pacific totaled X tons, growing by 1.8% on 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 27% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, vegetable puree imports dropped sharply to $X in 2022. Overall, imports saw a noticeable expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 31%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of vegetable puree imports in 2022 were Malaysia (X tons), Cambodia (X tons), Hong Kong SAR (X tons), Indonesia (X tons), New Caledonia (X tons), China (X tons), the Philippines (X tons) and Taiwan (Chinese) (X tons), together accounting for 80% of total import. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +54.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), China ($X) and New Caledonia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 48% of total imports. Malaysia, Indonesia, Cambodia, the Philippines, Taiwan (Chinese) and Singapore lagged somewhat behind, together comprising a further 33%.

Among the main importing countries, Cambodia, with a CAGR of +52.2%, recorded the highest growth rate of 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 2022, which is down by -18.3% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 an increase of 15% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then shrank notably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :