Nepal: Canned Vegetable Market 2024

Canned Vegetable Market Size in Nepal

In 2022, the Nepalese canned vegetable market increased by 1,282% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, consumption continues to indicate significant growth. Canned vegetable consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Canned Vegetable Production in Nepal

In value terms, canned vegetable production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume decreased by 99.9% against the previous year. Canned vegetable production peaked in 2022 and is likely to see steady growth in years to come.

Canned Vegetable Exports

Exports from Nepal

In 2022, overseas shipments of canned vegetables decreased by -42% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 790% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped rapidly in the following year.

In value terms, canned vegetable exports contracted modestly to $X in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 856%. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Australia (X tons), the United States (X tons) and Japan (X tons) were the main destinations of canned vegetable exports from Nepal, together comprising 88% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +70.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for canned vegetable exported from Nepal were Australia ($X), the United States ($X) and Japan ($X), together accounting for 93% of total exports.

Among the main countries of destination, Japan, with a CAGR of +70.1%, saw 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

The average canned vegetable export price stood at $X per ton in 2022, surging by 65% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 Canada (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Nepal

In 2022, supplies from abroad of canned vegetables was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 915% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, canned vegetable imports surged to $X in 2022. In general, imports posted a significant increase. The growth pace was the most rapid in 2013 with an increase of 1,261% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest canned vegetable supplier to Nepal, accounting for a 47% share of total imports. Moreover, canned vegetable imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+54.5% per year) and India (+32.7% per year).

In value terms, China ($X) constituted the largest supplier of canned vegetables to Nepal, comprising 44% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 14% share of total imports. It was followed by India, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +39.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (+67.1% per year) and India (+37.1% per year).

Import Prices by Country

The average canned vegetable import price stood at $X per ton in 2022, growing by 22% against the previous year. Overall, import price indicated mild growth 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, canned vegetable import price increased by +76.2% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 34%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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 Singapore ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform