Eastern Asia: Pasta Products Market 2024

Pasta Products Market Size in Eastern Asia

The East Asian pasta products market reduced to $X in 2022, leveling off at the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Pasta Products Production in Eastern Asia

In value terms, pasta products production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 27%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pasta Products Exports

Exports in Eastern Asia

For the sixth consecutive year, Eastern Asia recorded growth in shipments abroad of dried, undried and frozen pasta and pasta products, which increased by 9% to X tons in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% 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 +81.7% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, pasta products exports expanded markedly to $X in 2022. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 19%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) represented the key exporter of dried, undried and frozen pasta and pasta products, constituting 60% of total exports. It was distantly followed by South Korea (X tons), achieving a 31% share of total exports. Japan (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +14.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest pasta products supplying countries in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), together accounting for 92% of total exports.

Among the main exporting countries, South Korea, with a CAGR of +13.1%, recorded the highest growth rate of 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 export price in Eastern Asia amounted to $X per ton, picking up by 2.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2016 when the export price increased by 25%. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.1%), while the other leaders experienced more modest paces of growth.

Pasta Products Imports

Imports in Eastern Asia

In 2022, after three years of growth, there was decline in supplies from abroad of dried, undried and frozen pasta and pasta products, when their volume decreased by -4.4% to X tons. Overall, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 25% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then reduced modestly in the following year.

In value terms, pasta products imports expanded to $X in 2022. In general, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 19%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) and Hong Kong SAR (X tons) were the main importers of dried, undried and frozen pasta and pasta products in Eastern Asia, together resulting at approx. 75% of total imports. Japan (X tons) held the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held approx. 19% share of total imports. The following importers - South Korea (X tons) and Macao SAR (X tons) - each accounted for a 5.5% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pasta products importing markets in Eastern Asia were China ($X), Hong Kong SAR ($X) and Japan ($X), together accounting for 84% of total imports. Taiwan (Chinese), South Korea and Macao SAR lagged somewhat behind, together accounting for a further 16%.

In terms of the main importing countries, South Korea, with a CAGR of +20.5%, saw 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 2022, the import price in Eastern Asia amounted to $X per ton, picking up by 7% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the import price increased by 10%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

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 South Korea ($X per ton), while Hong Kong SAR ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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