Spain: Vegetable Product Market 2024

Vegetable Product Market Size in Spain

The Spanish vegetable product market skyrocketed to $X in 2022, with an increase of 81% against the previous year. Overall, consumption continues to indicate a remarkable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Vegetable Product Production in Spain

In value terms, vegetable product production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 58%. Vegetable product production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

In 2022, the average vegetable product yield in Spain fell to X tons per ha, almost unchanged from 2021 figures. Over the period under review, the yield saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the yield increased by 2.1% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the average 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 Spain; therefore, remained relatively stable against the previous year. The harvested area increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 7.8%. The vegetable product harvested area peaked in 2022 and is likely to see steady growth in years to come.

Vegetable Product Exports

Exports from Spain

In 2022, approx. X tons of vegetable products were exported from Spain; flattening at 2021. Over the period under review, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.3% against 2013 indices. The pace of growth was the most pronounced in 2015 with an increase of 14% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, vegetable product exports rose remarkably to $X in 2022. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 44%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Italy (X tons) was the main destination for vegetable product exports from Spain, accounting for a 31% share of total exports. Moreover, vegetable product exports to Italy exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Thailand (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+3.3% per year) and Thailand (+1.6% per year).

In value terms, Italy ($X) remains the key foreign market for vegetable products exports from Spain, comprising 58% of total exports. The second position in the ranking was taken by France ($X), with a 5% share of total exports. It was followed by Vietnam, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +28.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+4.4% per year) and Vietnam (+1.9% per year).

Export Prices by Country

In 2022, the average vegetable product export price amounted to $X per ton, with an increase of 9.2% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable product export price increased by +64.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 40% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into Spain

In 2022, approx. X tons of vegetable products were imported into Spain; increasing by 22% compared with the year before. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 38%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable product imports soared to $X in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 93%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Portugal (X tons) constituted the largest supplier of vegetable product to Spain, with a 65% share of total imports. Moreover, vegetable product imports from Portugal exceeded the figures recorded by the second-largest supplier, Morocco (X tons), fourfold. The third position in this ranking was held by Tunisia (X tons), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Portugal totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Morocco (-3.0% per year) and Tunisia (+33.3% per year).

In value terms, Morocco ($X), Portugal ($X) and Algeria ($X) were the largest vegetable product suppliers to Spain, together accounting for 88% of total imports. Tunisia lagged somewhat behind, comprising a further 3.2%.

In terms of the main suppliers, Tunisia, with a CAGR of +58.3%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, jumping by 18% against the previous year. Overall, the import price enjoyed a strong expansion. The pace of growth appeared the most rapid in 2021 when the average import price increased by 63% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Algeria ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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