Australia: Canned Food Market 2024

Canned Food Market Size in Australia

In 2021, the Australian canned food market decreased by -9.6% to $X, falling for the second consecutive year after six years of growth. Over the period under review, consumption, however, enjoyed a resilient expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Canned Food Production in Australia

In value terms, canned food production stood at $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 83% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Canned Food Exports

Exports from Australia

In 2021, overseas shipments of canned food decreased by -4.5% to X tons, falling for the second year in a row after eight years of growth. Over the period under review, exports, however, saw prominent growth. The growth pace was the most rapid in 2016 with an increase of 29% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, canned food exports dropped to $X in 2021. Overall, exports, however, showed resilient growth. The growth pace was the most rapid in 2016 with an increase of 72% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), New Zealand (X tons) and Japan (X tons) were the main destinations of canned food exports from Australia, together comprising 52% of total exports. These countries were followed by Hong Kong SAR, Papua New Guinea, South Korea, the United States, Singapore, Vietnam, Malaysia, Indonesia and Taiwan (Chinese), which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +58.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for canned food exports from Australia, comprising 46% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8.8% share of total exports. It was followed by Japan, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to China totaled +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+44.4% per year) and Japan (+7.6% per year).

Export Prices by Country

In 2021, the average canned food export price amounted to $X per ton, dropping by -7.5% against the previous year. Over the period under review, the export price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 42%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Australia

In 2021, supplies from abroad of canned food decreased by -14.4% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, canned food imports dropped sharply to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, 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 16%. Imports peaked at $X in 2020, and then shrank remarkably in the following year.

Imports by Country

Italy (X tons), New Zealand (X tons) and Thailand (X tons) were the main suppliers of canned food imports to Australia, together accounting for 60% of total imports. These countries were followed by China, Turkey, India, Spain, the United States, Greece, Indonesia, the Philippines and Mexico, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +27.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) constituted the largest supplier of canned food to Australia, comprising 31% of total imports. The second position in the ranking was held by Italy ($X), with a 14% share of total imports. It was followed by Thailand, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from New Zealand totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.3% per year) and Thailand (+5.5% per year).

Import Prices by Country

The average canned food import price stood at $X per ton in 2021, with a decrease of -4.4% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, canned food import price decreased by -4.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 24%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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