Eastern Asia: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Eastern Asia

For the third consecutive year, the East Asian market for frozen vegetables other than potato and corn recorded growth in sales value, which increased by 3.4% to $X in 2022. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when the market value increased by 7.5%. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Frozen Vegetables other than Potato and Corn in Eastern Asia

In value terms, production of frozen vegetables other than potato and corn totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 7% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Exports of Frozen Vegetables other than Potato and Corn

Exports in Eastern Asia

After two years of decline, overseas shipments of frozen vegetables other than potato and corn increased by 3.3% to X tons in 2022. The total export volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. The volume of export peaked at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, exports of frozen vegetables other than potato and corn rose significantly to $X in 2022. The total export value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates corn structure, finishing at X tons, which was approx. 97% of total exports in 2022. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the frozen vegetables other than potato and corn exports, with a CAGR of +3.1% from 2012 to 2022. Taiwan (Chinese) experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen vegetables other than potato and corn supplier in Eastern Asia, comprising 94% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China totaled +3.4%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 6.4% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 8.3% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.5%).

Imports of Frozen Vegetables other than Potato and Corn

Imports in Eastern Asia

In 2022, imports of frozen vegetables other than potato and corn in Eastern Asia amounted to X tons, remaining stable against the year before. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 7.2%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of frozen vegetables other than potato and corn expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 7.1% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Japan represented the key importing country with an import of about X tons, which reached 58% of total imports. It was distantly followed by South Korea (X tons), generating a 34% share of total imports. The following importers - Taiwan (Chinese) (X tons), Hong Kong SAR (X tons) and China (X tons) - together made up 7.8% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +13.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported frozen vegetables other than potato and corn in Eastern Asia, comprising 75% of total imports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total imports. It was followed by Taiwan (Chinese), with a 2.9% share.

In Japan, imports of frozen vegetables other than potato and corn expanded at an average annual rate of +2.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.0% per year) and Taiwan (Chinese) (+8.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, picking up by 6.4% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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