South-Eastern Asia: Dried Onion Market 2024

Dried Onion Market Size in South-Eastern Asia

In 2021, the Southeast Asian dried onion market increased by 24% to $X, rising for the fourth year in a row after three years of decline. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Dried Onion Production in South-Eastern Asia

In value terms, dried onion production fell to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 54% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Dried Onion Exports

Exports in South-Eastern Asia

In 2021, exports of dried onions in South-Eastern Asia dropped slightly to X tons, declining by -2.5% on the previous year's figure. Over the period under review, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2013 when exports increased by 193% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, dried onion exports totaled $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 226%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Malaysia (X tons) was the key exporter of dried onions, achieving 46% of total exports. It was distantly followed by Vietnam (X tons), Singapore (X tons) and Myanmar (X tons), together generating a 48% share of total exports. The following exporters - Thailand (X tons) and Lao People's Democratic Republic (X tons) - together made up 5.2% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +18.8%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 83% of total exports. These countries were followed by Myanmar, Thailand and Lao People's Democratic Republic, which together accounted for a further 16%.

Thailand, with a CAGR of +15.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, growing by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2020 an increase of 29%. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+6.0%), while the other leaders experienced more modest paces of growth.

Dried Onion Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of dried onions increased by 87% to X tons, rising for the fifth consecutive year after three years of decline. Over the period under review, imports recorded a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, dried onion imports soared to $X in 2021. Overall, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia represented the main importing country with an import of around X tons, which recorded 53% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by the Philippines (X tons) and Singapore (X tons). All these countries together took near 42% share of total imports. Thailand (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to dried onion imports into Indonesia stood at +15.4%. At the same time, the Philippines (+16.3%), Malaysia (+10.2%) and Thailand (+8.9%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +16.3% from 2012-2021. By contrast, Singapore (-7.2%) illustrated a downward trend over the same period. While the share of Indonesia (+17 p.p.) and the Philippines (+4.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-17.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported dried onions in South-Eastern Asia, comprising 51% of total imports. The second position in the ranking was held by the Philippines ($X), with a 17% share of total imports. It was followed by Malaysia, with a 13% share.

In Indonesia, dried onion imports expanded at an average annual rate of +9.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Philippines (+20.0% per year) and Malaysia (+7.3% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, reducing by -30.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+14.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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