Eastern Asia: Walnut Market 2025

Walnut Market Size in Eastern Asia

In 2021, after two years of growth, there was decline in the East Asian walnut market, when its value decreased by -3.8% to $X. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Walnut Production in Eastern Asia

In value terms, walnut production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 128%. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

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

From 2012 to 2021, the average annual growth rate of volume in China stood at +4.3%.

In 2021, the average yield of walnuts in Eastern Asia shrank slightly to X tons per ha, almost unchanged from 2020 figures. In general, the yield, however, recorded a resilient increase. The growth pace was the most rapid in 2016 when the yield increased by 28%. Over the period under review, the walnut yield hit record highs at X tons per ha in 2020, and then fell 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 2021, approx. X ha of walnuts were harvested in Eastern Asia; waning by -3.9% against 2020. Overall, the harvested area saw a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 16% against the previous year. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2021, the harvested area failed to regain momentum.

Walnut Exports

Exports in Eastern Asia

In 2021, the amount of walnuts exported in Eastern Asia surged to X tons, increasing by 44% compared with the previous year's figure. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 263% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, walnut exports soared to $X in 2021. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 220%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from China (X tons), together accounting for 100% of total export.

China was also the fastest-growing in terms of the walnuts exports, with a CAGR of +150.7% from 2012 to 2021. From 2012 to 2021, the share of China increased by +100 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual growth rate of value in China stood at +153.5%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, which is down by -2.9% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, walnut export price decreased by -35.0% against 2017 indices. The pace of growth appeared the most rapid in 2017 an increase of 62%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +1.1% per year.

Walnut Imports

Imports in Eastern Asia

In 2021, imports of walnuts in Eastern Asia dropped remarkably to X tons, shrinking by -16.9% against the previous year. Over the period under review, imports faced a significant contraction. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, walnut imports declined notably to $X in 2021. Overall, imports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2013 with an increase of 32% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main importer of walnuts, committing 60% of total imports. Democratic People's Republic of Korea (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held near 33% share of total imports. The following importers - Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) - each accounted for a 5.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to walnut imports into China stood at -15.4%. At the same time, Taiwan (Chinese) (+37.4%), Democratic People's Republic of Korea (+20.0%) and South Korea (+4.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +37.4% from 2012-2021. By contrast, Hong Kong SAR (-43.8%) illustrated a downward trend over the same period. While the share of China (+29 p.p.), Democratic People's Republic of Korea (+25 p.p.), South Korea (+6.8 p.p.) and Taiwan (Chinese) (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-64 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported walnuts in Eastern Asia, comprising 61% of total imports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with a 21% share of total imports. It was followed by South Korea, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -17.7%. In the other countries, the average annual rates were as follows: Democratic People's Republic of Korea (+20.0% per year) and South Korea (-1.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, dropping by -9% against the previous year. Over the period under review, the import price continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2013 when the import price increased by 13% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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