Indonesia: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Indonesia

The Indonesian market for frozen vegetables other than potato and corn expanded markedly to $X in 2022, picking up by 5.7% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Production of Frozen Vegetables other than Potato and Corn in Indonesia

In value terms, production of frozen vegetables other than potato and corn totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Frozen Vegetables other than Potato and Corn

Exports from Indonesia

In 2022, overseas shipments of frozen vegetables other than potato and corn decreased by -34.2% to X tons, falling for the second consecutive year after five years of growth. Overall, exports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2019 with an increase of 27%. Over the period under review, the exports of reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, exports of frozen vegetables other than potato and corn dropped dramatically to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 21% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for exports of frozen vegetables other than potato and corn from Indonesia, with a 66% share of total exports. Moreover, exports of frozen vegetables other than potato and corn to Japan exceeded the volume sent to the second major destination, the United States (X tons), sixfold. India (X tons) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.3% per year) and India (+28.1% per year).

In value terms, Japan ($X) remains the key foreign market for frozen vegetables other than potato and corn exports from Indonesia, comprising 64% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Australia, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.8% per year) and Australia (+44.3% per year).

Export Prices by Country

In 2022, the average export price for frozen vegetables other than potato and corn amounted to $X per ton, falling by -4.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2013 an increase of 15%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Russia ($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 Australia (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Vegetables other than Potato and Corn

Imports into Indonesia

In 2022, imports of frozen vegetables other than potato and corn into Indonesia surged to X tons, growing by 44% on the year before. Overall, imports saw noticeable growth. The pace of growth appeared the most rapid in 2017 with an increase of 72% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of frozen vegetables other than potato and corn skyrocketed to $X in 2022. In general, imports recorded buoyant growth. The pace of growth was the most pronounced in 2017 when imports increased by 59%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest frozen vegetables other than potato and corn supplier to Indonesia, with a 56% share of total imports. Moreover, imports of frozen vegetables other than potato and corn from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.7% per year) and Belgium (-2.3% per year).

In value terms, the largest frozen vegetables other than potato and corn suppliers to Indonesia were China ($X), the United States ($X) and Belgium ($X), together comprising 91% of total imports.

Among the main suppliers, the United States, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for frozen vegetables other than potato and corn stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 9.8%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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