U.S.: Vegetable Product Market 2024

Vegetable Product Market Size in the U.S.

The U.S. vegetable product market expanded to $X in 2022, picking up by 4.2% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. Vegetable product consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Vegetable Product Production in the U.S.

In value terms, vegetable product production rose to $X in 2022. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 37%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

In 2022, the average yield of vegetable products in the United States rose to X tons per ha, with an increase of 4.1% compared with 2021. In general, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the yield increased by 8.9%. The vegetable product yield peaked at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. 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 the United States; approximately reflecting the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the harvested area increased by 3.8% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2021 to 2022, the growth of the vegetable product harvested area remained at a lower figure.

Vegetable Product Exports

Exports from the U.S.

In 2022, shipments abroad of vegetable products was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 61%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, vegetable product exports stood at $X in 2022. Overall, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.4% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 54% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Canada (X tons) was the main destination for vegetable product exports from the United States, with a 60% share of total exports. Moreover, vegetable product exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sixfold. Vietnam (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume to Canada totaled +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+14.9% per year) and Vietnam (+56.9% per year).

In value terms, Canada ($X) remains the key foreign market for vegetable products exports from the United States, comprising 53% of total exports. The second position in the ranking was taken by Mexico ($X), with an 11% share of total exports. It was followed by Australia, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+17.4% per year) and Australia (+17.1% per year).

Export Prices by Country

In 2022, the average vegetable product export price amounted to $X per ton, shrinking by -30.9% against the previous year. Over the period under review, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2017 an increase of 36%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Vietnam ($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 Hong Kong SAR (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Product Imports

Imports into the U.S.

Vegetable product imports into the United States totaled X tons in 2022, growing by 10% on 2021 figures. The total import volume increased at an average annual rate of +2.5% 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 2018 when imports increased by 44%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable product imports skyrocketed to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +73.1% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 59% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest vegetable product supplier to the United States, accounting for a 59% share of total imports. Moreover, vegetable product imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold. Mexico (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+12.1% per year) and Mexico (+4.1% per year).

In value terms, China ($X) constituted the largest supplier of vegetable products to the United States, comprising 75% of total imports. The second position in the ranking was held by Peru ($X), with a 5.1% share of total imports. It was followed by Bulgaria, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (-5.6% per year) and Bulgaria (+16.2% per year).

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, with an increase of 10% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable product import price increased by +36.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 79%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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