Bangladesh: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Bangladesh

The Bangladeshi market for frozen vegetables other than potato and corn stood at $X in 2022, increasing by 14% against the previous year. Overall, consumption saw a prominent expansion. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Frozen Vegetables other than Potato and Corn in Bangladesh

In value terms, production of frozen vegetables other than potato and corn stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value 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, production decreased by -3.5% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 22% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Frozen Vegetables other than Potato and Corn

Exports from Bangladesh

Exports of frozen vegetables other than potato and corn from Bangladesh contracted to X tons in 2022, which is down by -7.4% against 2021. In general, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +21.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 67%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of frozen vegetables other than potato and corn dropped to $X in 2022. Overall, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +72.2% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 71% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for exports of frozen vegetables other than potato and corn from Bangladesh, with a 54% share of total exports. Moreover, exports of frozen vegetables other than potato and corn to the UK exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-1.0% per year) and Italy (+33.4% per year).

In value terms, the UK ($X) remains the key foreign market for frozen vegetables other than potato and corn exports from Bangladesh, comprising 47% of total exports. The second position in the ranking was taken by the United States ($X), with a 22% share of total exports. It was followed by Italy, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.1% per year) and Italy (+39.2% per year).

Export Prices by Country

In 2022, the average export price for frozen vegetables other than potato and corn amounted to $X per ton, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Saudi Arabia ($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 Canada (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Vegetables other than Potato and Corn

Imports into Bangladesh

In 2022, approx. X tons of frozen vegetables other than potato and corn were imported into Bangladesh; picking up by 11% compared with the previous year. Over the period under review, imports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2020 when imports increased by 196% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of frozen vegetables other than potato and corn soared to $X in 2022. Overall, imports, however, recorded a abrupt decline. The growth pace was the most rapid in 2020 when imports increased by 145% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), the United Arab Emirates (X tons) and India (X tons) were the main suppliers of imports of frozen vegetables other than potato and corn to Bangladesh, together accounting for 52% of total imports. Denmark, New Zealand, China, the Netherlands and the United States lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +107.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Denmark ($X) and India ($X) constituted the largest frozen vegetables other than potato and corn suppliers to Bangladesh, together accounting for 52% of total imports. The United Arab Emirates, New Zealand, the Netherlands, China and the United States lagged somewhat behind, together accounting for a further 23%.

The Netherlands, with a CAGR of +113.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for frozen vegetables other than potato and corn amounted to $X per ton, increasing by 5.8% against the previous year. Overall, the import price, however, saw a noticeable slump. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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