Eastern Asia: Potato Chips Market 2024

Potato Chips Market Size in Eastern Asia

The East Asian potato chips market fell modestly to $X in 2022, stabilizing at the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.4% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Potato Chips Production in Eastern Asia

In value terms, potato chips production fell modestly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Potato Chips Exports

Exports in Eastern Asia

In 2022, approx. X tons of potato chips were exported in Eastern Asia; picking up by 28% compared with 2021. In general, exports enjoyed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, potato chips exports totaled $X in 2022. Over the period under review, exports showed prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 35% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China was the key exporting country with an export of around X tons, which resulted at 62% of total exports. Japan (X tons) ranks second in terms of the total exports with a 12% share, followed by Hong Kong SAR (11%) and Taiwan (Chinese) (10%). South Korea (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, South Korea (+36.9%), Japan (+21.4%) and Taiwan (Chinese) (+18.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +36.9% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. While the share of Japan (+7.9 p.p.), Taiwan (Chinese) (+5.7 p.p.) and South Korea (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-2.3 p.p.) and Hong Kong SAR (-14.9 p.p.) displayed negative dynamics.

In value terms, the largest potato chips supplying countries in Eastern Asia were China ($X), Japan ($X) and Hong Kong SAR ($X), with a combined 81% share of total exports. Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 19%.

In terms of the main exporting countries, South Korea, with a CAGR of +39.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, shrinking by -11.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2016 when the export price increased by 24% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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 (+5.0%), while the other leaders experienced more modest paces of growth.

Potato Chips Imports

Imports in Eastern Asia

In 2022, purchases abroad of potato chips increased by 4.2% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2015 with an increase of 12% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, potato chips imports rose remarkably to $X in 2022. Total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.9% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Japan (X tons) and Hong Kong SAR (X tons) dominates imports structure, together committing 77% of total imports. It was distantly followed by China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together comprising a 21% share of total imports. Macao SAR (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +26.9%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest potato chips importing markets in Eastern Asia were Hong Kong SAR ($X), Japan ($X) and China ($X), together comprising 84% of total imports.

China, with a CAGR of +32.0%, saw the highest growth rate of 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

The import price in Eastern Asia stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 when the import price increased by 13% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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