South-Eastern Asia: Table Flatware Market 2024

Table Flatware Market Size in South-Eastern Asia

The Southeast Asian table flatware market shrank to $X in 2022, which is down by -8.1% against the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.1% against 2020 indices. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Table Flatware Production in South-Eastern Asia

In value terms, table flatware production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 38%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Table Flatware Exports

Exports in South-Eastern Asia

In 2022, the amount of table flatware exported in South-Eastern Asia stood at X tons, picking up by 4.5% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a slight descent. The growth pace was the most rapid in 2019 when exports increased by 31% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, table flatware exports amounted to $X in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 37%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam represented the key exporter of table flatware in South-Eastern Asia, with the volume of exports amounting to X tons, which was near 68% of total exports in 2022. It was distantly followed by Indonesia (X tons) and Thailand (X tons), together generating a 28% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

Vietnam experienced a relatively flat trend pattern with regard to volume of exports of table flatware. At the same time, Malaysia (+1.3%) and Indonesia (+1.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +1.3% from 2012-2022. By contrast, Thailand (-6.3%) illustrated a downward trend over the same period. While the share of Indonesia (+4.1 p.p.) and Vietnam (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest table flatware supplier in South-Eastern Asia, comprising 73% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total exports. It was followed by Thailand, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+3.3% per year) and Thailand (-9.1% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by 6.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2013 when the export price increased by 9.4% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.1%), while the other leaders experienced more modest paces of growth.

Table Flatware Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of table flatware increased by 15% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 69%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, table flatware imports surged to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 106% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia represented the key importer of table flatware in South-Eastern Asia, with the volume of imports finishing at X tons, which was approx. 64% of total imports in 2022. Thailand (X tons) ranks second in terms of the total imports with a 16% share, followed by Malaysia (10%). Myanmar (X tons), the Philippines (X tons) and Singapore (X tons) followed a long way behind the leaders.

Imports into Indonesia increased at an average annual rate of +9.3% from 2012 to 2022. At the same time, Myanmar (+48.8%) and Thailand (+6.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +48.8% from 2012-2022. By contrast, Singapore (-7.0%), Malaysia (-8.5%) and the Philippines (-20.5%) illustrated a downward trend over the same period. While the share of Indonesia (+33 p.p.), Thailand (+5.4 p.p.) and Myanmar (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Singapore (-2.5 p.p.), the Philippines (-18.9 p.p.) and Malaysia (-19.1 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) constitutes the largest market for imported table flatware in South-Eastern Asia, comprising 41% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled +9.5%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (-11.1% per year) and Thailand (+2.2% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, increasing by 1.7% against the previous year. In general, the import price, however, continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2018 an increase of 128%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the 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 Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+32.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :