Bangladesh: Canned Food Market 2024

Canned Food Market Size in Bangladesh

In 2021, after three years of growth, there was significant decline in the Bangladeshi canned food market, when its value decreased by -5.6% to $X. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +59.1% against 2017 indices. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Canned Food Production in Bangladesh

In value terms, canned food production declined to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.6% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 56%. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Canned Food Exports

Exports from Bangladesh

In 2021, overseas shipments of canned food decreased by -23.2% to X tons, falling for the third consecutive year after three years of growth. Overall, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -32.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 73%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, canned food exports contracted slightly to $X in 2021. Over the period under review, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 179% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), Hong Kong SAR (X tons) and the United Arab Emirates (X tons) were the main destinations of canned food exports from Bangladesh, together comprising 54% of total exports.

From 2012 to 2020, the biggest increases were recorded for Saudi Arabia (with a CAGR of +37.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for canned food exported from Bangladesh were Saudi Arabia ($X), Hong Kong SAR ($X) and the UK ($X), together accounting for 54% of total exports.

Saudi Arabia, with a CAGR of +40.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned food export price stood at $X per ton in 2020, with an increase of 5% against the previous year. Overall, the export price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2013 when the average export price increased by 61%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2020, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Bangladesh

In 2021, approx. X tons of canned food were imported into Bangladesh; surging by 2% compared with the previous year's figure. Overall, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.0% against 2012 indices. The pace of growth was the most pronounced in 2017 when imports increased by 29% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, canned food imports dropped to $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.9% 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 -10.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 27% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2020, India (X tons) constituted the largest canned food supplier to Bangladesh, with a 47% share of total imports. Moreover, canned food imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by the Philippines (X tons), with a 7.4% share.

From 2012 to 2020, the average annual rate of growth in terms of volume from India amounted to +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.9% per year) and the Philippines (+51.7% per year).

In value terms, India ($X) constituted the largest supplier of canned food to Bangladesh, comprising 55% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 9.4% share of total imports. It was followed by Belgium, with a 6.9% share.

From 2012 to 2020, the average annual growth rate of value from India totaled +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+51.4% per year) and Belgium (-12.9% per year).

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, shrinking by -3% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 11%. As a result, import price attained the peak level of $X per ton. From 2015 to 2020, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Australia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Vietnam (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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