South-Eastern Asia: Vegetable Product Market 2025

Vegetable Product Market Size in South-Eastern Asia

In 2022, the Southeast Asian vegetable product market increased by 10% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, continues to indicate a deep slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Product Production in South-Eastern Asia

In value terms, vegetable product production expanded sharply to $X in 2022 estimated in export price. In general, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Thailand (X tons) remains the largest vegetable product producing country in South-Eastern Asia, accounting for 46% of total volume. Moreover, vegetable product production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), twofold. The Philippines (X tons) ranked third in terms of total production with a 16% share.

From 2012 to 2022, the average annual growth rate of volume in Thailand amounted to -3.3%. In the other countries, the average annual rates were as follows: Indonesia (+0.7% per year) and the Philippines (-0.4% per year).

The average vegetable product yield dropped slightly to X tons per ha in 2022, waning by -3.2% against 2021 figures. Over the period under review, the yield showed a pronounced decrease. The growth pace was the most rapid in 2018 with an increase of 7.6% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the vegetable product yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of vegetable products were harvested in South-Eastern Asia; growing by 4.5% compared with the year before. The harvested area increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the vegetable product harvested area failed to regain momentum.

Vegetable Product Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of vegetable products decreased by -12.3% to X tons, falling for the second year in a row after six years of growth. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 61%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, vegetable product exports shrank to $X in 2022. Overall, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 47%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Vietnam (X tons), Myanmar (X tons) and Malaysia (X tons), together amounting to 79% of total export. Indonesia (X tons) took the next position in the ranking, followed by Thailand (X tons). All these countries together held near 19% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +60.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), Vietnam ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 80% of total exports.

In terms of the main exporting countries, Myanmar, with a CAGR of +51.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, increasing by 8.9% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2014 when the export price increased by 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 (+14.1%), while the other leaders experienced a decline in the export price figures.

Vegetable Product Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of vegetable products increased by 9.3% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +78.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 63%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, vegetable product imports expanded notably to $X in 2022. Over the period under review, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 120%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X tons) and Singapore (X tons) represented the main importers of vegetable products in South-Eastern Asia, together mixing up 75% of total imports. Thailand (X tons) held the next position in the ranking, distantly followed by Malaysia (X tons). All these countries together held near 19% share of total imports. Cambodia (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +36.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported vegetable products in South-Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam amounted to +15.2%. In the other countries, the average annual rates were as follows: Malaysia (+39.9% per year) and Thailand (-1.5% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price, however, saw noticeable growth. The growth pace was the most rapid in 2019 when the import price increased by 47%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Singapore ($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 (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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