Bangladesh: Vegetable Product Market 2025

Vegetable Product Market Size in Bangladesh

The Bangladeshi vegetable product market contracted to $X in 2022, reducing by -3.8% against the previous year. Over the period under review, consumption, however, continues to indicate a pronounced contraction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Vegetable Product Production in Bangladesh

In value terms, vegetable product production reduced dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2021 with an increase of 78% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

In 2022, the average vegetable product yield in Bangladesh declined to X tons per ha, remaining constant against 2021. Overall, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by 10% against the previous year. Over the period under review, the average vegetable product yield hit record highs at X tons per ha in 2021, and then shrank in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of vegetable products in Bangladesh expanded significantly to X ha, growing by 5.1% compared with 2021 figures. Over the period under review, the harvested area, however, recorded a perceptible slump. Over the period under review, the harvested area dedicated to vegetable product production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Vegetable Product Exports

Exports from Bangladesh

In 2022, shipments abroad of vegetable products decreased by -20.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 252% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable product exports amounted to $X in 2022. Overall, exports, however, posted significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 373%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X tons), Japan (X tons) and Canada (X tons) were the main destinations of vegetable product exports from Bangladesh, together comprising 80% of total exports. Kuwait, Ireland, France, the United Arab Emirates and the UK lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +99.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for vegetable products exports from Bangladesh, comprising 50% of total exports. The second position in the ranking was taken by Canada ($X), with a 22% share of total exports. It was followed by Saudi Arabia, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+46.1% per year) and Saudi Arabia (+58.5% per year).

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, picking up by 30% against the previous year. Overall, the export price recorded noticeable growth. The pace of growth appeared the most rapid in 2021 an increase of 75% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Saudi Arabia ($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 the UK (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into Bangladesh

In 2022, overseas purchases of vegetable products increased by 84% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 1,677%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, vegetable product imports expanded sharply to $X in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 3,341%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest vegetable product supplier to Bangladesh, with a 60% share of total imports. Moreover, vegetable product imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sevenfold. The third position in this ranking was held by India (X tons), with a 3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +79.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+9.4% per year) and India (+93.0% per year).

In value terms, China ($X) constituted the largest supplier of vegetable products to Bangladesh, comprising 56% of total imports. The second position in the ranking was held by Thailand ($X), with a 20% share of total imports. It was followed by India, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +74.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+25.0% per year) and India (+128.0% per year).

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, reducing by -37.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 94% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+18.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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