South-Eastern Asia: Preserved Asparagus Market 2024

Preserved Asparagus Market Size in South-Eastern Asia

The Southeast Asian preserved asparagus market shrank slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Preserved Asparagus Production in South-Eastern Asia

In value terms, preserved asparagus production shrank slightly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -1.9% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Preserved Asparagus Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of preserved asparagus increased by 55% to X tons for the first time since 2016, thus ending a five-year declining trend. In general, exports, however, continue to indicate a sharp reduction. The pace of growth was the most pronounced in 2016 when exports increased by 69%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved asparagus exports skyrocketed to $X in 2022. Overall, exports, however, saw a sharp descent. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Singapore (X tons) represented the key exporter of preserved asparagus, making up 60% of total exports. It was distantly followed by Malaysia (X tons), constituting a 35% share of total exports. Vietnam (X tons) and Indonesia (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 leading exporting countries, was attained by Indonesia (with a CAGR of -18.1%), while the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X) remains the largest preserved asparagus supplier in South-Eastern Asia, comprising 75% of total exports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total exports. It was followed by Vietnam, with a 4% share.

In Singapore, preserved asparagus exports decreased by an average annual rate of -18.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-26.6% per year) and Vietnam (-19.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, waning by -19.5% against the previous year. In general, the export price, however, enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2020 an increase of 60%. The level of export peaked at $X per ton in 2021, and then declined sharply 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 Indonesia ($X per ton), while Malaysia ($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 (+8.0%), while the other leaders experienced more modest paces of growth.

Preserved Asparagus Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of preserved asparagus increased by 13% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of 40% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, preserved asparagus imports dropped modestly to $X in 2022. Overall, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 45%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Indonesia (X tons), the Philippines (X tons) and Thailand (X tons) represented roughly 88% of total imports in 2022. It was distantly followed by Singapore (X tons), generating a 6.3% share of total imports. Malaysia (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of -2.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest preserved asparagus importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and the Philippines ($X), together comprising 75% of total imports.

Among the main importing countries, the Philippines, with a CAGR of +1.7%, 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 trends in the imports figures.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, shrinking by -12.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2013 when the import price increased by 15%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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