Eastern Asia: Market for Grape Juice (Single Strength) 2024

Market Size for Grape Juice (Single Strength) in Eastern Asia

The East Asian grape juice (single strength) market expanded modestly to $X in 2021, picking up by 4.5% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Grape Juice (Single Strength) in Eastern Asia

In value terms, grape juice (single strength) production declined notably to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 110%. As a result, production reached the peak level of $X, and then dropped dramatically in the following year.

Exports of Grape Juice (Single Strength)

Exports in Eastern Asia

In 2021, grape juice (single strength) exports in Eastern Asia soared to X tons, jumping by 29% against the year before. In general, exports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2018 with an increase of 73% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, grape juice (single strength) exports reduced remarkably to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 161% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the major exporter of grape juice (single strength) in Eastern Asia, with the volume of exports recording X tons, which was near 56% of total exports in 2021. Japan (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (8.3%), South Korea (7.2%) and Democratic People's Republic of Korea (5.5%). Hong Kong SAR (X tons) held a relatively small share of total exports.

Exports from China decreased at an average annual rate of -2.9% from 2012 to 2021. At the same time, Japan (+23.5%) and Democratic People's Republic of Korea (+19.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +23.5% from 2012-2021. By contrast, Hong Kong SAR (-5.4%), Taiwan (Chinese) (-12.0%) and South Korea (-18.3%) illustrated a downward trend over the same period. Japan (+19 p.p.), China (+7.8 p.p.) and Democratic People's Republic of Korea (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and South Korea saw its share reduced by -9% and -22% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grape juice (single strength) supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 89% of total exports. Taiwan (Chinese), Hong Kong SAR and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further 11%.

Democratic People's Republic of Korea, with a CAGR of +22.0%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, waning by -37.9% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, grape juice (single strength) export price increased by +8.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 75% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.8%), while the other leaders experienced more modest paces of growth.

Imports of Grape Juice (Single Strength)

Imports in Eastern Asia

In 2021, the amount of grape juice (single strength) imported in Eastern Asia skyrocketed to X tons, rising by 34% compared with the previous year's figure. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +109.0% against 2014 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, grape juice (single strength) imports skyrocketed to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.9% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the main importer of grape juice (single strength) in Eastern Asia, with the volume of imports reaching X tons, which was near 77% of total imports in 2021. Japan (X tons) held the second position in the ranking, followed by South Korea (X tons). All these countries together took near 20% share of total imports. Taiwan (Chinese) (X tons) held a little share of total imports.

China was also the fastest-growing in terms of the grape juice (single strength) imports, with a CAGR of +22.0% from 2012 to 2021. South Korea experienced a relatively flat trend pattern. Japan (-5.8%) and Taiwan (Chinese) (-7.3%) illustrated a downward trend over the same period. While the share of China (+50 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-6.8 p.p.), South Korea (-10.9 p.p.) and Japan (-28.4 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported grape juice (single strength) in Eastern Asia, comprising 65% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports. It was followed by South Korea, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +12.2%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.7% per year) and South Korea (+0.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 5% against the previous year. Overall, the import price, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 an increase of 11%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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