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

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

The East Asian grapefruit juice (single strength) market surged to $X in 2021, with an increase of 47% against the previous year. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.3% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Grapefruit Juice (Single Strength) in Eastern Asia

In value terms, grapefruit juice (single strength) production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a modest expansion. The growth pace was the most rapid in 2016 with an increase of 396% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Grapefruit Juice (Single Strength)

Exports in Eastern Asia

In 2021, shipments abroad of grapefruit juice (single strength) was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 318% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, grapefruit juice (single strength) exports surged to $X in 2021. Overall, exports showed resilient growth. The pace of growth was the most pronounced in 2016 when exports increased by 489% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Hong Kong SAR was the largest exporter of grapefruit juice (single strength) in Eastern Asia, with the volume of exports amounting to X tons, which was approx. 50% of total exports in 2021. It was distantly followed by China (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons), together achieving a 50% share of total exports.

Exports from Hong Kong SAR increased at an average annual rate of +19.6% from 2012 to 2021. At the same time, Japan (+53.1%) and South Korea (+5.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +53.1% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-11.0%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+34 p.p.) and Japan (+8.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-12.4 p.p.) and Taiwan (Chinese) (-30 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) remains the largest grapefruit juice (single strength) supplier in Eastern Asia, comprising 55% of total exports. The second position in the ranking was held by China ($X), with a 14% share of total exports. It was followed by South Korea, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Hong Kong SAR stood at +25.4%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+8.9% per year) and South Korea (+13.7% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 19% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the export price increased by 41% against the previous year. The level of export peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($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) (+9.6%), while the other leaders experienced more modest paces of growth.

Imports of Grapefruit Juice (Single Strength)

Imports in Eastern Asia

In 2021, supplies from abroad of grapefruit juice (single strength) was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, grapefruit juice (single strength) imports soared to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.4% against 2019 indices. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China represented the key importing country with an import of about X tons, which accounted for 58% of total imports. It was distantly followed by South Korea (X tons) and Japan (X tons), together comprising a 38% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to grapefruit juice (single strength) imports into China stood at +28.3%. At the same time, South Korea (+32.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +32.5% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Japan (-16.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and South Korea increased by +50 and +22 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest grapefruit juice (single strength) importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), together accounting for 96% of total imports.

South Korea, with a CAGR of +33.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, shrinking by -10.4% against the previous year. In general, the import price, however, showed a mild increase. The pace of growth was the most pronounced in 2018 when the import price increased by 20%. Over the period under review, import prices hit record highs at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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