Asia: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Asia

The Asian preserved sweet corn market reduced modestly to $X in 2022, declining by -4.6% against the previous year. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 6% against the previous year. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Preserved Sweet Corn Production in Asia

In value terms, preserved sweet corn production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 10%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

The country with the largest volume of preserved sweet corn production was Thailand (X tons), comprising approx. 62% of total volume. Moreover, preserved sweet corn production in Thailand exceeded the figures recorded by the second-largest producer, China (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total production with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume in Thailand was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: China (-0.3% per year) and Saudi Arabia (0.0% per year).

Preserved Sweet Corn Exports

Exports in Asia

In 2022, preserved sweet corn exports in Asia reached X tons, picking up by 11% against the year before. The total export volume increased at an average annual rate of +3.9% 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 2016 when exports increased by 19%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, preserved sweet corn exports reached $X in 2022. The total export value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 16% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Thailand was the major exporter of sweet corn prepared or preserved in Asia, with the volume of exports amounting to X tons, which was approx. 60% of total exports in 2022. It was distantly followed by China (X tons), constituting a 33% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved sweet corn supplying countries in Asia were Thailand ($X), China ($X) and Vietnam ($X), together accounting for 95% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +16.3%, 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 stood at $X per ton in 2022, surging by 3.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 16%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

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

In 2022, the amount of sweet corn prepared or preserved imported in Asia shrank to X tons, waning by -4.6% against the previous year. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 12% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, preserved sweet corn imports fell slightly to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 5.8%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped slightly in the following year.

Imports by Country

The countries with the highest levels of preserved sweet corn imports in 2022 were Japan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons), together accounting for 63% of total import. It was distantly followed by Kazakhstan (X tons), mixing up a 4.5% share of total imports. Hong Kong SAR (X tons), Malaysia (X tons), the United Arab Emirates (X tons), Lebanon (X tons), Singapore (X tons), Uzbekistan (X tons) and Iraq (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Iraq (with a CAGR of +33.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported sweet corn prepared or preserved in Asia, comprising 33% of total imports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.0% per year) and Taiwan (Chinese) (+1.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by 3.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 4.1% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Uzbekistan (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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