Eastern Asia: Market for Peel Of Citrus Fruit Or Melons 2024

Market Size for Peel Of Citrus Fruit Or Melons in Eastern Asia

After four years of growth, the East Asian market for peel of citrus fruit or melons decreased by -1.1% to $X in 2021. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% 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 increased by +59.8% against 2016 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Production of Peel Of Citrus Fruit Or Melons in Eastern Asia

In value terms, citrus fruit or melons peel production dropped slightly to $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +66.9% against 2016 indices. The growth pace was the most rapid in 2019 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Exports of Peel Of Citrus Fruit Or Melons

Exports in Eastern Asia

In 2021, citrus fruit or melons peel exports in Eastern Asia rose notably to X tons, increasing by 7.7% compared with 2020 figures. Total exports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.6% against 2016 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 96% 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, citrus fruit or melons peel exports skyrocketed to $X in 2021. Overall, exports showed a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 60% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

China was the major exporting country with an export of about X tons, which reached 84% of total exports. It was distantly followed by Japan (X tons), comprising a 14% share of total exports.

China was also the fastest-growing in terms of the peel of citrus fruit or melons exports, with a CAGR of +4.4% from 2012 to 2021. Japan (-6.7%) illustrated a downward trend over the same period. While the share of China (+19 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-15.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest citrus fruit or melons peel supplier in Eastern Asia, comprising 87% of total exports. The second position in the ranking was held by Japan ($X), with a 7.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China amounted to +13.0%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, growing by 21% against the previous year. Export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the export price increased by 37%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.2%).

Imports of Peel Of Citrus Fruit Or Melons

Imports in Eastern Asia

In 2021, purchases abroad of peel of citrus fruit or melons was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, citrus fruit or melons peel imports rose sharply to $X in 2021. Overall, imports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 19%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Japan represented the main importer of peel of citrus fruit or melons in Eastern Asia, with the volume of imports amounting to X tons, which was approx. 64% of total imports in 2021. South Korea (X tons) ranks second in terms of the total imports with a 15% share, followed by China (13%). The following importers - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - each finished at an 8% share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of peel of citrus fruit or melons. At the same time, South Korea (+18.6%), Taiwan (Chinese) (+13.2%) and Hong Kong SAR (+11.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +18.6% from 2012-2021. By contrast, China (-22.3%) illustrated a downward trend over the same period. While the share of Japan (+29 p.p.), South Korea (+13 p.p.), Taiwan (Chinese) (+3.6 p.p.) and Hong Kong SAR (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-49.1 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported peel of citrus fruit or melons in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by China, with a 7.4% share.

In Japan, citrus fruit or melons peel imports increased at an average annual rate of +2.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+14.0% per year) and China (-18.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 6.8% against the previous year. Import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, citrus fruit or melons peel import price increased by +6.6% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by 28%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

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 Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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