South-Eastern Asia: Festive Articles Market 2024

Festive Articles Market Size in South-Eastern Asia

The Southeast Asian festive articles market rose slightly to $X in 2022, growing by 2.6% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 -7.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Festive Articles Production in South-Eastern Asia

In value terms, festive articles production shrank slightly to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -8.4% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 77% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Festive Articles Exports

Exports in South-Eastern Asia

In 2022, the amount of festive or carnival articles exported in South-Eastern Asia rose significantly to X tons, growing by 7.9% on 2021. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 52%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, festive articles exports stood at $X in 2022. Overall, exports continue to indicate a strong increase. The growth pace was the most rapid in 2021 when exports increased by 87% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 60% of total exports in 2022. It was distantly followed by Thailand (X tons), the Philippines (X tons), Malaysia (X tons) and Cambodia (X tons), together making up a 38% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Cambodia (with a CAGR of +83.3%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and the Philippines ($X) were the countries with the highest levels of exports in 2022, with a combined 78% share of total exports. Indonesia, Cambodia, Malaysia and Singapore lagged somewhat behind, together accounting for a further 22%.

Cambodia, with a CAGR of +72.4%, 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

The export price in South-Eastern Asia stood at $X per ton in 2022, with a decrease of -6.6% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, festive articles export price increased by +25.9% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 23% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+9.1%), while the other leaders experienced more modest paces of growth.

Festive Articles Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of festive or carnival articles increased by 16% to X tons, rising for the second consecutive year after three years of decline. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 103%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, festive articles imports rose remarkably to $X in 2022. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 68% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) and Malaysia (X tons) were the largest importers of festive or carnival articles in South-Eastern Asia, together resulting at near 63% of total imports. Thailand (X tons) ranks next in terms of the total imports with a 14% share, followed by Singapore (11%) and the Philippines (8.3%). The following importers - Myanmar (X tons) and Vietnam (X tons) - each amounted to a 3.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +82.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Singapore ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 67% of total imports. Indonesia, Thailand, Vietnam and Myanmar lagged somewhat behind, together accounting for a further 32%.

In terms of the main importing countries, Myanmar, with a CAGR of +33.4%, 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 more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, shrinking by -3.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 58%. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+34.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :