Australia and Oceania: Dry Vegetable Market 2024

Dry Vegetable Market Size in Australia and Oceania

In 2022, the dry vegetable market in Australia and Oceania increased by 5.1% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Dry Vegetable Production in Australia and Oceania

In value terms, dry vegetable production expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 31% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Dry Vegetable Exports

Exports in Australia and Oceania

Dry vegetable exports rose rapidly to X tons in 2022, with an increase of 9.6% on 2021. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 16%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, dry vegetable exports reached $X in 2022. Over the period under review, exports saw a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

New Zealand represented the main exporting country with an export of around X tons, which recorded 82% of total exports. It was distantly followed by Australia (X tons), creating an 18% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dry vegetable exports from New Zealand stood at +4.7%. At the same time, Australia (+10.2%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +10.2% from 2012-2022. While the share of Australia (+6.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-5 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) and Australia ($X) were the countries with the highest levels of exports in 2022.

Australia, with a CAGR of +30.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, standing approx. at the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price 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, dry vegetable export price increased by +38.0% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 37% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then dropped modestly in the following year.

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 Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+18.5%).

Dry Vegetable Imports

Imports in Australia and Oceania

In 2022, overseas purchases of dry vegetables increased by 1.8% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 7.7% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, dry vegetable imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 29%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Australia represented the largest importing country with an import of about X tons, which recorded 84% of total imports. It was distantly followed by New Zealand (X tons), committing a 14% share of total imports.

Imports into Australia increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, New Zealand (+1.8%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +1.8% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported dry vegetables in Australia and Oceania, comprising 80% of total imports. The second position in the ranking was held by New Zealand ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Australia totaled +3.8%.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, rising by 8.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 when the import price increased by 19%. Over the period under review, import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.5%).

Source: IndexBox Platform

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