India: Vegetable Puree Market 2024

Vegetable Puree Market Size in India

The Indian vegetable puree market expanded markedly to $X in 2022, picking up by 8.6% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Puree Production in India

In value terms, vegetable puree production expanded sharply to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 -9.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Vegetable Puree Exports

Exports from India

In 2022, after three years of growth, there was significant decline in shipments abroad of vegetable puree, when their volume decreased by -28.6% to X tons. Over the period under review, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2019 with an increase of 109%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vegetable puree exports shrank sharply to $X in 2022. In general, exports saw a sharp decrease. The pace of growth was the most pronounced in 2019 with an increase of 82% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons) was the main destination for vegetable puree exports from India, with a 51% share of total exports. Moreover, vegetable puree exports to Kuwait exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Japan (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kuwait totaled +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-35.7% per year) and Japan (+14.7% per year).

In value terms, the largest markets for vegetable puree exported from India were Kuwait ($X), the United States ($X) and Japan ($X), together comprising 72% of total exports.

Among the main countries of destination, Kuwait, with a CAGR of +26.6%, recorded 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

In 2022, the average vegetable puree export price amounted to $X per ton, picking up by 19% against the previous year. Over the period under review, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable puree export price decreased by -29.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 48%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+34.9%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Puree Imports

Imports into India

In 2022, overseas purchases of vegetable puree were finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a sharp curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 1,866% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vegetable puree imports surged to $X in 2022. Overall, imports, however, showed a dramatic decline. The most prominent rate of growth was recorded in 2018 when imports increased by 1,497%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the UK (X kg) constituted the largest vegetable puree supplier to India, accounting for a 89% share of total imports. Moreover, vegetable puree imports from the UK exceeded the figures recorded by the second-largest supplier, Singapore (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume from the UK amounted to -35.8%.

In value terms, the UK ($X) constituted the largest supplier of vegetable puree to India, comprising 86% of total imports. The second position in the ranking was taken by Singapore ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the UK stood at -24.8%.

Import Prices by Country

The average vegetable puree import price stood at $X per ton in 2022, growing by 8.9% against the previous year. Overall, the import price saw a resilient increase. The pace of growth was the most pronounced in 2021 an increase of 139% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the UK totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+31.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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