Eastern Asia: Canary Seed Market 2024

Canary Seed Market Size in Eastern Asia

For the sixth year in a row, the East Asian canary seed market recorded growth in sales value, which increased by 48% to $X in 2022. Over the period under review, consumption showed a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Canary Seed Production in Eastern Asia

In value terms, canary seed production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 48% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

China (X tons) remains the largest canary seed producing country in Eastern Asia, accounting for 99.9% of total volume.

In China, canary seed production remained relatively stable over the period from 2012-2022.

Canary Seed Exports

Exports in Eastern Asia

After two years of decline, shipments abroad of canary seed increased by 27% to X tons in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 640%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, canary seed exports soared to $X in 2022. Over the period under review, exports saw a measured increase. The pace of growth appeared the most rapid in 2014 when exports increased by 639% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the key exporter of canary seed in Eastern Asia, constituting 99% of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of canary seed. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest canary seed supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China amounted to +3.8%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by 7% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, canary seed export price decreased by -4.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the export price increased by 85% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +4.2% per year.

Canary Seed Imports

Imports in Eastern Asia

In 2022, approx. X tons of canary seed were imported in Eastern Asia; surging by 13% compared with the previous year. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 47% against the previous year. 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, canary seed imports soared to $X in 2022. Overall, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) represented the major importer of canary seed, mixing up 75% of total imports. Japan (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (7.3%). South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the canary seed imports, with a CAGR of +61.0% from 2012 to 2022. South Korea experienced a relatively flat trend pattern. Japan (-1.3%) and Taiwan (Chinese) (-7.9%) illustrated a downward trend over the same period. China (+75 p.p.) significantly strengthened its position in terms of the total imports, while South Korea, Japan and Taiwan (Chinese) saw its share reduced by -3.4%, -32.7% and -38.8% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported canary seed in Eastern Asia, comprising 75% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +66.2%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+1.5% per year) and Taiwan (Chinese) (-9.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, jumping by 33% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, canary seed import price increased by +89.0% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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