South-Eastern Asia: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in South-Eastern Asia

The Southeast Asian market for frozen vegetables other than potato and corn reached $X in 2022, surging by 4.7% against the previous year. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in the near future.

Production of Frozen Vegetables other than Potato and Corn in South-Eastern Asia

In value terms, production of frozen vegetables other than potato and corn rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% 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%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Frozen Vegetables other than Potato and Corn

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded decline in overseas shipments of frozen vegetables other than potato and corn, which decreased by -9.4% to X tons in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 27%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of frozen vegetables other than potato and corn reduced to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 9.8% against the previous year. Over the period under review, the exports of reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) and Vietnam (X tons) prevails in corn structure, together achieving 87% of total exports. It was distantly followed by Indonesia (X tons), comprising a 9.6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +5.2%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest frozen vegetables other than potato and corn supplying countries in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Indonesia ($X), together comprising 96% of total exports.

Vietnam, with a CAGR of +6.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2020 an increase of 11%. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.2%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Vegetables other than Potato and Corn

Imports in South-Eastern Asia

In 2022, the amount of frozen vegetables other than potato and corn imported in South-Eastern Asia contracted to X tons, which is down by -5.2% compared with 2021. Overall, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 49%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of frozen vegetables other than potato and corn dropped to $X in 2022. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 43% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Malaysia (X tons), Thailand (X tons), the Philippines (X tons) and Singapore (X tons) represented roughly 83% of total imports in 2022. Indonesia (X tons) held the next position in the ranking, followed by Vietnam (X tons). All these countries together held near 13% share of total imports. Brunei Darussalam (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +10.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen vegetables other than potato and corn importing markets in South-Eastern Asia were Thailand ($X), Singapore ($X) and Malaysia ($X), with a combined 67% share of total imports. The Philippines, Indonesia, Vietnam and Brunei Darussalam lagged somewhat behind, together accounting for a further 31%.

The Philippines, with a CAGR of +16.8%, saw the highest growth rate of the value of imports, among the main importing countries 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, approximately equating the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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