South-Eastern Asia: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in South-Eastern Asia

In 2022, the Southeast Asian preserved sweet corn market increased by 33% to $X for the first time since 2019, thus ending a two-year declining trend. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, 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 expected to retain growth in the near future.

Preserved Sweet Corn Production in South-Eastern Asia

In value terms, preserved sweet corn production contracted slightly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 13% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Thailand (X tons) remains the largest preserved sweet corn producing country in South-Eastern Asia, accounting for 94% of total volume. It was followed by Vietnam (X tons), with a 2.7% share of total production.

From 2012 to 2022, the average annual growth rate of volume in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (+0.7% per year) and Indonesia (+3.3% per year).

Preserved Sweet Corn Exports

Exports in South-Eastern Asia

In 2022, the amount of sweet corn prepared or preserved exported in South-Eastern Asia shrank to X tons, waning by -7.3% on the year before. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, preserved sweet corn exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when exports increased by 15%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand dominates exports structure, reaching X tons, which was approx. 96% of total exports in 2022. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to preserved sweet corn exports from Thailand stood at +1.1%. At the same time, Vietnam (+12.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +12.7% from 2012-2022. Vietnam (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest preserved sweet corn supplier in South-Eastern Asia, comprising 95% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 4.2% share of total exports.

In Thailand, preserved sweet corn exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 3.7% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 11% against the previous year. The level of export peaked at $X per ton in 2013; 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 Vietnam ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.2%).

Preserved Sweet Corn Imports

Imports in South-Eastern Asia

In 2022, preserved sweet corn imports in South-Eastern Asia surged to X tons, increasing by 24% on the year before. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by 48%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, preserved sweet corn imports soared to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.6% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 46% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X tons) was the main importer of sweet corn prepared or preserved, constituting 59% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by Singapore (X tons) and Indonesia (X tons). All these countries together held approx. 37% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the sweet corn prepared or preserved imports, with a CAGR of +8.1% from 2012 to 2022. At the same time, Vietnam (+1.7%) and Indonesia (+1.2%) displayed positive paces of growth. Malaysia and Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Philippines increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported sweet corn prepared or preserved in South-Eastern Asia, comprising 46% of total imports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total imports. It was followed by Singapore, with a 16% share.

In the Philippines, preserved sweet corn imports increased at an average annual rate of +16.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+0.5% per year) and Singapore (-0.3% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, declining by -6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2020 an increase of 10%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

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 Indonesia ($X per ton), while the Philippines ($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 (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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