Eastern Asia: Vanilla Market 2025

Vanilla Market Size in Eastern Asia

After four years of decline, the East Asian vanilla market increased by 37% to $X in 2022. Over the period under review, consumption showed a mild expansion. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Vanilla Production in Eastern Asia

In value terms, vanilla production dropped to $X in 2022 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 71% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

China (X tons) remains the largest vanilla producing country in Eastern Asia, comprising approx. 100% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China totaled +1.3%.

Vanilla Exports

Exports in Eastern Asia

In 2022, the amount of vanilla exported in Eastern Asia totaled X tons, growing by 3.2% against the year before. In general, exports showed notable growth. The pace of growth appeared the most rapid in 2015 when exports increased by 183%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vanilla exports fell slightly to $X in 2022. Overall, exports saw a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 85% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, recording X tons, which was near 94% of total exports in 2022. The following exporters - South Korea (X tons) and Japan (X tons) - together made up 5.5% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vanilla exports from China stood at +2.9%. At the same time, Japan (+36.1%) and South Korea (+25.4%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +36.1% from 2012-2022. From 2012 to 2022, the share of South Korea and Japan increased by +3 and +2.3 percentage points, respectively.

In value terms, China ($X) remains the largest vanilla supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.6% share of total exports.

In China, vanilla exports increased at an average annual rate of +14.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+7.6% per year) and South Korea (+6.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, declining by -5.6% against the previous year. Overall, the export price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2013 an increase of 293%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 China (+11.4%), while the other leaders experienced mixed trends in the export price figures.

Vanilla Imports

Imports in Eastern Asia

In 2022, purchases abroad of vanilla was finally on the rise to reach X tons after four years of decline. Overall, imports, however, saw a noticeable reduction. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, vanilla imports expanded significantly to $X in 2022. Over the period under review, imports saw strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 150% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan represented the major importer of vanilla in Eastern Asia, with the volume of imports reaching X tons, which was near 68% of total imports in 2022. South Korea (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by China (11%). The following importers - Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - each recorded a 5.9% share of total imports.

Imports into Japan decreased at an average annual rate of -4.4% from 2012 to 2022. At the same time, South Korea (+3.0%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +3.0% from 2012-2022. By contrast, China (-1.3%), Taiwan (Chinese) (-9.6%) and Hong Kong SAR (-28.5%) illustrated a downward trend over the same period. South Korea (+5.9 p.p.), Hong Kong SAR (+3.3 p.p.) and Taiwan (Chinese) (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by -14.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported vanilla in Eastern Asia, comprising 66% of total imports. The second position in the ranking was held by South Korea ($X), with a 22% share of total imports. It was followed by China, with a 6.4% share.

In Japan, vanilla imports increased at an average annual rate of +11.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+25.9% per year) and China (+11.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, reducing by -20.8% against the previous year. In general, the import price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when the import price increased by 109% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($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 (+22.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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