Asia: Canned Food Market 2024

Canned Food Market Size in Asia

The Asian canned food market reached $X in 2021, approximately mirroring the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.2% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Canned Food Production in Asia

In value terms, canned food production amounted to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.0% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 29% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Canned Food Exports

Exports in Asia

For the sixth consecutive year, Asia recorded growth in shipments abroad of canned food, which increased by 2.3% to X tons in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 4.8%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, canned food exports totaled $X in 2021. The total export value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor 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

China (X tons) and Thailand (X tons) represented roughly 59% of total exports in 2021. It was distantly followed by Turkey (X tons), the Philippines (X tons) and Indonesia (X tons), together constituting a 21% share of total exports. India (X tons), the United Arab Emirates (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +7.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest canned food supplying countries in Asia were China ($X), Thailand ($X) and Turkey ($X), with a combined 72% share of total exports. The Philippines, Indonesia, the United Arab Emirates, India and Vietnam lagged somewhat behind, together accounting for a further 11%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +13.9%, recorded the highest growth rate of 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 stood at $X per ton in 2021, rising by 4.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2013 when the export price increased by 7.3%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Turkey ($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 United Arab Emirates (+12.1%), while the other leaders experienced more modest paces of growth.

Canned Food Imports

Imports in Asia

In 2021, overseas purchases of canned food decreased by -3.1% to X tons, falling for the second consecutive year after four years of growth. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 6.3% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, canned food imports dropped to $X in 2021. Total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 11%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Japan was the major importer of canned food in Asia, with the volume of imports amounting to X tons, which was near 29% of total imports in 2021. South Korea (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by China (8.2%), Saudi Arabia (6.2%) and Hong Kong SAR (6%). Malaysia (X tons), Iraq (X tons), the United Arab Emirates (X tons), the Philippines (X tons), Singapore (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons) and Yemen (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%), Kazakhstan (+5.0%), the Philippines (+4.9%), Iraq (+4.8%), South Korea (+4.2%), Yemen (+2.9%), Malaysia (+2.3%), Singapore (+2.2%), Taiwan (Chinese) (+2.0%), the United Arab Emirates (+1.3%) and Saudi Arabia (+1.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of +12.1% from 2012-2021. By contrast, Hong Kong SAR (-4.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and South Korea increased by +4.8 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest canned food importing markets in Asia were China ($X), Japan ($X) and Saudi Arabia ($X), with a combined 61% share of total imports.

In terms of the main importing countries, China, with a CAGR of +17.3%, 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 stood at $X per ton in 2021, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 when the import price increased by 8.8% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2020, and then dropped in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Yemen ($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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