Bangladesh: Canned Vegetable Market 2024

Canned Vegetable Market Size in Bangladesh

In 2022, the Bangladeshi canned vegetable market increased by 6.4% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption showed prominent growth. 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.

Canned Vegetable Production in Bangladesh

In value terms, canned vegetable production amounted to $X in 2022 estimated in export price. In general, production enjoyed a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 199% against the previous year. Canned vegetable production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Canned Vegetable Exports

Exports from Bangladesh

In 2022, the amount of canned vegetables exported from Bangladesh shrank significantly to X tons, falling by -50.2% against the previous year. Overall, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2014 when exports increased by 68%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, canned vegetable exports contracted dramatically to $X in 2022. In general, exports recorded a perceptible slump. The pace of growth appeared the most rapid in 2014 when exports increased by 63% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons), Nepal (X tons) and Kuwait (X tons) were the main destinations of canned vegetable exports from Bangladesh, together comprising 62% of total exports.

From 2012 to 2022, the biggest increases were recorded for Nepal (with a CAGR of +37.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for canned vegetable exported from Bangladesh were the UK ($X), the United States ($X) and Nepal ($X), with a combined 55% share of total exports.

In terms of the main countries of destination, Nepal, with a CAGR of +48.3%, recorded 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 average canned vegetable export price stood at $X per ton in 2022, surging by 21% against the previous year. Over the period under review, the export price continues to indicate resilient growth. The growth pace was the most rapid in 2013 an increase of 184%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Bangladesh

Canned vegetable imports into Bangladesh reduced slightly to X tons in 2022, remaining constant against the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 291% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, canned vegetable imports rose modestly to $X in 2022. Overall, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 317% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest canned vegetable supplier to Bangladesh, with a 41% share of total imports. Moreover, canned vegetable imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by Spain (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+4.2% per year) and Spain (+20.0% per year).

In value terms, China ($X), the UK ($X) and Singapore ($X) constituted the largest canned vegetable suppliers to Bangladesh, with a combined 61% share of total imports. Spain, the United States, Thailand, Italy, the Netherlands, Vietnam and India lagged somewhat behind, together comprising a further 15%.

In terms of the main suppliers, Vietnam, with a CAGR of +93.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average canned vegetable import price stood at $X per ton in 2022, rising by 2.7% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, canned vegetable import price increased by +13.4% against 2020 indices. The growth pace was the most rapid in 2015 when the average import price increased by 41% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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