China: Market for Nuts (Prepared Or Preserved) 2024

Market Size for Nuts (Prepared Or Preserved) in China

The Chinese nuts (prepared or preserved) market contracted modestly to $X in 2021, remaining stable against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by +0.3% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2020, and then dropped modestly in the following year.

Production of Nuts (Prepared Or Preserved) in China

In value terms, nuts (prepared or preserved) production declined slightly to $X in 2021 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.7% against 2016 indices. The growth pace was the most rapid in 2016 with an increase of 42%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Nuts (Prepared Or Preserved)

Exports from China

In 2021, shipments abroad of nuts (prepared or preserved) decreased by -1% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -9.6% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 35%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, nuts (prepared or preserved) exports expanded to $X in 2021. In general, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.5% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Japan (X tons), South Korea (X tons) and Thailand (X tons) were the main destinations of nuts (prepared or preserved) exports from China, with a combined 43% share of total exports. The United States, Indonesia, Malaysia, Vietnam, the Netherlands, Taiwan (Chinese), the UK, Hong Kong SAR, Canada and Germany lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +47.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for nuts (prepared or preserved) exports from China, comprising 25% of total exports. The second position in the ranking was held by South Korea ($X), with an 8.9% share of total exports. It was followed by the United States, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+5.0% per year) and the United States (-0.9% per year).

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, increasing by 4.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 5.3%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Indonesia ($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 Vietnam (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nuts (Prepared Or Preserved)

Imports into China

For the fourth consecutive year, China recorded growth in purchases abroad of nuts (prepared or preserved), which increased by 43% to X tons in 2021. Overall, imports posted a significant expansion. The growth pace was the most rapid in 2018 with an increase of 109% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, nuts (prepared or preserved) imports surged to $X in 2021. Over the period under review, imports saw a significant increase. The pace of growth was the most pronounced in 2018 when imports increased by 90%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Vietnam (X tons) and Turkey (X tons) were the main suppliers of nuts (prepared or preserved) imports to China, together accounting for 80% of total imports. Hong Kong SAR, Thailand, South Korea, Japan and Pakistan lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +77.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nuts (prepared or preserved) suppliers to China were the United States ($X), Vietnam ($X) and Turkey ($X), together comprising 86% of total imports. Hong Kong SAR, South Korea, Thailand, Japan and Pakistan lagged somewhat behind, together comprising a further 12%.

Among the main suppliers, South Korea, with a CAGR of +79.9%, recorded 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

In 2021, the average nuts (prepared or preserved) import price amounted to $X per ton, with an increase of 2.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 31% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood 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 South Korea ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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