Asia: Vinegar Market 2024

Vinegar Market Size in Asia

In 2022, the Asian vinegar market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, saw a noticeable descent. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Vinegar Production in Asia

In value terms, vinegar production reached $X in 2022 estimated in export price. In general, production, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vinegar Exports

Exports in Asia

In 2022, overseas shipments of vinegar increased by X% to X tons, rising for the eighth consecutive year after two years of decline. In general, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, vinegar exports shrank slightly to $X in 2022. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, South Korea (X tons), distantly followed by China (X tons), Japan (X tons), the United Arab Emirates (X tons), Turkey (X tons), the Philippines (X tons) and Iran (X tons) represented the largest exporters of vinegar, together making up X% of total exports.

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

In value terms, South Korea ($X) remains the largest vinegar supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in South Korea stood at X%. In the other countries, the average annual rates were as follows: China (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2014 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

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 South Korea ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Vinegar Imports

Imports in Asia

In 2022, the amount of vinegar imported in Asia surged to X tons, growing by X% on the year before. In general, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vinegar imports rose modestly to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Israel was the major importing country with an import of about X tons, which accounted for X% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a X% share, followed by Iraq (X%), the United Arab Emirates (X%), Hong Kong SAR (X%) and China (X%). South Korea (X tons), Singapore (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Japan (X tons), Oman (X tons) and the Philippines (X tons) took a relatively small share of total imports.

Israel was also the fastest-growing in terms of the vinegar imports, with a CAGR of X% from 2012 to 2022. At the same time, Iraq (X%), the Philippines (X%), Taiwan (Chinese) (X%), Oman (X%), the United Arab Emirates (X%), South Korea (X%), Saudi Arabia (X%), Malaysia (X%), China (X%), Hong Kong SAR (X%) and Singapore (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of Israel (X p.p.), Iraq (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.), China (X p.p.), Singapore (X p.p.), Hong Kong SAR (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Hong Kong SAR ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. China, the United Arab Emirates, Saudi Arabia, Singapore, Taiwan (Chinese), Malaysia, Iraq, Israel, the Philippines and Oman lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price recorded a noticeable reduction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell sharply in the following year.

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

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

Source: IndexBox Platform

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