Eastern Asia: Canned Vegetable Market 2024

Canned Vegetable Market Size in Eastern Asia

In 2022, after two years of growth, there was decline in the East Asian canned vegetable market, when its value decreased by -0.6% to $X. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the market value increased by 7.5%. As a result, consumption reached the peak level of $X, leveling off in the following year.

Canned Vegetable Production in Eastern Asia

In value terms, canned vegetable production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 14%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Canned Vegetable Exports

Exports in Eastern Asia

In 2022, the amount of canned vegetables exported in Eastern Asia totaled X tons, with an increase of 3.8% compared with 2021. The total export volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2019 when exports increased by 8%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, canned vegetable exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +5.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 19% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near 95% of total exports in 2022. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to canned vegetable exports from China stood at +1.4%. At the same time, South Korea (+4.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.5% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest canned vegetable supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was taken by South Korea ($X), with a 6.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +5.4%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 4.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2021 when the export price increased by 20% against the previous year. The level of export peaked in 2022 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 South Korea ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%).

Canned Vegetable Imports

Imports in Eastern Asia

In 2022, purchases abroad of canned vegetables was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 6.9% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, canned vegetable imports amounted to $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 6.9% 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 South Korea (X tons) dominates imports structure, together generating 89% of total imports. Hong Kong SAR (X tons) ranks next in terms of the total imports with a 4.9% share, followed by Taiwan (Chinese) (4.6%). China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +4.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported canned vegetables in Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with a 26% share of total imports. It was followed by Hong Kong SAR, with a 9.3% share.

In Japan, canned vegetable imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+7.0% per year) and Hong Kong SAR (+5.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 2.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 9.4% against the previous year. The level of import peaked in 2022 and is likely to see steady 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 Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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