Eastern Asia: Frozen Potato Market 2024

Frozen Potato Market Size in Eastern Asia

For the fourth year in a row, the East Asian frozen potato market recorded decline in sales value, which decreased by -0.3% to $X in 2021. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Frozen Potato Production in Eastern Asia

In value terms, frozen potato production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 46%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Frozen Potato Exports

Exports in Eastern Asia

In 2021, shipments abroad of frozen potatoes increased by 31% to X tons, rising for the third consecutive year after two years of decline. In general, exports saw a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 72%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, frozen potato exports surged to $X in 2021. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 58%. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was near 95% of total exports in 2021. Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the frozen potatoes exports, with a CAGR of +12.6% from 2012 to 2021. Hong Kong SAR (-5.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +10 percentage points.

In value terms, China ($X) remains the largest frozen potato supplier in Eastern Asia, comprising 92% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +10.2%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, reducing by -1.7% against the previous year. Over the period under review, the export price saw a slight descent. The growth pace was the most rapid in 2017 an increase of 38% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.8%).

Frozen Potato Imports

Imports in Eastern Asia

In 2021, purchases abroad of frozen potatoes was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen potato imports amounted to $X in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Japan was the main importing country with an import of around X tons, which recorded 53% of total imports. South Korea (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons), China (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 46% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of frozen potatoes. At the same time, South Korea (+6.2%), Taiwan (Chinese) (+5.5%) and Hong Kong SAR (+2.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +6.2% from 2012-2021. By contrast, China (-6.2%) illustrated a downward trend over the same period. While the share of South Korea (+7.3 p.p.) and Taiwan (Chinese) (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-3.6 p.p.) and China (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported frozen potatoes in Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+6.2% per year) and Taiwan (Chinese) (+5.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, standing approx. at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 6.6%. The level of import peaked at $X per ton in 2020, and then shrank slightly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Hong Kong SAR ($X per ton) and Japan ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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