Eastern Asia: Preserved Frozen Potato Market 2024

Preserved Frozen Potato Market Size in Eastern Asia

The East Asian preserved frozen potato market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.7% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Preserved Frozen Potato Production in Eastern Asia

In value terms, preserved frozen potato production rose significantly to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.5% 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 -8.8% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 54%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Preserved Frozen Potato Exports

Exports in Eastern Asia

In 2021, overseas shipments of frozen potatoes prepared or preserved increased by 53% to X tons, rising for the third consecutive year after two years of decline. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 132% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, preserved frozen potato exports soared to $X in 2021. Over the period under review, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 89%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China prevails in exports structure, reaching X tons, which was near 94% 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 prepared or preserved exports, with a CAGR of +15.6% from 2012 to 2021. Hong Kong SAR (-2.9%) illustrated a downward trend over the same period. While the share of China (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-12.7 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest preserved frozen potato supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 4.8% share of total exports.

In China, preserved frozen potato exports expanded at an average annual rate of +12.1% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, declining by -4.2% against the previous year. In general, the export price recorded a perceptible decrease. The pace of growth was the most pronounced in 2017 when the export price increased by 64%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.9%).

Preserved Frozen Potato Imports

Imports in Eastern Asia

In 2021, overseas purchases of frozen potatoes prepared or preserved were finally on the rise to reach X tons after two years of decline. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, preserved frozen potato imports totaled $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 12%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Japan was the major importing country with an import of about X tons, which amounted to 53% of total imports. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons), China (X tons) and Hong Kong SAR (X tons), together committing a 47% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of frozen potatoes prepared or preserved. At the same time, South Korea (+6.1%), Taiwan (Chinese) (+5.6%) and Hong Kong SAR (+2.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +6.1% from 2012-2021. By contrast, China (-6.1%) illustrated a downward trend over the same period. While the share of South Korea (+7.2 p.p.) and Taiwan (Chinese) (+4.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-3.1 p.p.) and China (-9.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported frozen potatoes prepared or preserved in Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($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. In the other countries, the average annual rates were as follows: South Korea (+6.0% 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, approximately equating the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 7.3%. Over the period under review, import prices reached the maximum at $X per ton in 2019; afterwards, it flattened through to 2021.

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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