China: Vanilla Market 2024

Vanilla Market Size in China

The Chinese vanilla market fell modestly to $X in 2022, waning by -2.3% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Vanilla consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Vanilla Production in China

In value terms, vanilla production dropped slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 -1.5% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 71%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

The average yield of vanilla in China stood at less than X kg per ha in 2022, approximately equating 2021. In general, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of vanilla were harvested in China; remaining stable against the previous year. In general, the harvested area recorded a relatively flat trend pattern.

Vanilla Exports

Exports from China

In 2022, the amount of vanilla exported from China rose significantly to X tons, picking up by 5.9% compared with 2021. Overall, exports saw a moderate increase. The growth pace was the most rapid in 2015 when exports increased by 183%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vanilla exports totaled $X in 2022. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 when exports increased by 84% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Azerbaijan (X tons) and Armenia (X tons) were the main destinations of vanilla exports from China, with a combined 58% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +51.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vanilla exported from China were Sweden ($X), Switzerland ($X) and Azerbaijan ($X), together accounting for 54% of total exports.

Among the main countries of destination, Sweden, with a CAGR of +45.2%, 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

In 2022, the average vanilla export price amounted to $X per ton, reducing by -3.4% against the previous year. In general, the export price, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 an increase of 300% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the United States ($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 Yemen (+45.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vanilla Imports

Imports into China

In 2022, after two years of growth, there was significant decline in purchases abroad of vanilla, when their volume decreased by -17.3% to X tons. Over the period under review, imports saw a mild decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 167%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vanilla imports shrank markedly to $X in 2022. Overall, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2018 with an increase of 80%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Madagascar (X tons) and France (X kg) were the main suppliers of vanilla imports to China, together accounting for 99.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +2.6%), while imports for the other leaders experienced a decline.

In value terms, Madagascar ($X) constituted the largest supplier of vanilla to China, comprising 61% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 29% share of total imports. It was followed by France, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from Madagascar amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+9.7% per year) and France (+17.0% per year).

Import Prices by Country

In 2022, the average vanilla import price amounted to $X per ton, with a decrease of -28.6% against the previous year. Over the period under review, the import price, however, saw a strong increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 160% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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