Eastern Asia: Safflower Seed Market 2025

Safflower Seed Market Size in Eastern Asia

In 2022, the East Asian safflower seed market increased by 31% to $X, rising for the fourth year in a row after two years of decline. Overall, consumption enjoyed a significant increase. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Safflower Seed Production in Eastern Asia

In value terms, safflower seed production fell markedly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of 180%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of safflower seed production, comprising approx. 100% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest.

The average safflower seed yield fell to X tons per ha in 2022, standing approx. at 2021. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 1.2% against the previous year. The level of yield peaked at X tons per ha in 2021, and then fell slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of safflower seed were harvested in Eastern Asia; flattening at the year before. Overall, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 2.6% against the previous year. Over the period under review, the harvested area dedicated to safflower seed production attained the peak figure at X ha in 2017; however, from 2018 to 2022, the harvested area stood at a somewhat lower figure.

Safflower Seed Exports

Exports in Eastern Asia

In 2022, overseas shipments of safflower seed were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a precipitous setback. The most prominent rate of growth was recorded in 2019 when exports increased by 2,140% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, safflower seed exports soared to $X in 2022. Over the period under review, exports, however, saw a deep setback. The pace of growth appeared the most rapid in 2019 when exports increased by 3,632% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of safflower seed, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the safflower seed exports, with a CAGR of -24.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest safflower seed supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled -19.9%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by 23% against the previous year. In general, the export price showed a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the export price increased by 135%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +6.1% per year.

Safflower Seed Imports

Imports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded growth in overseas purchases of safflower seed, which increased by 61% to X tons in 2022. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 303% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, safflower seed imports soared to $X in 2022. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 146%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China dominates imports structure, resulting at X tons, which was near 95% of total imports in 2022. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the safflower seed imports, with a CAGR of +23.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+3.7%) displayed positive paces of growth. While the share of China (+95 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (-62.9 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported safflower seed in Eastern Asia, comprising 93% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +28.4%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, shrinking by -2% against the previous year. Overall, the import price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by 42%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($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 (+4.3%).

Source: IndexBox Platform

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