Vietnam: Vinegar-Preserved Vegetable Market 2024

Vinegar-Preserved Vegetable Market Size in Vietnam

The Vietnamese vinegar-preserved vegetable market rose remarkably to $X in 2022, surging by 11% against the previous year. Overall, consumption recorded strong growth. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Vinegar-Preserved Vegetable Production in Vietnam

In value terms, vinegar-preserved vegetable production expanded sharply to $X in 2022 estimated in export price. Overall, production saw a remarkable increase. The growth pace was the most rapid in 2016 when the production volume increased by 46%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Vinegar-Preserved Vegetable Exports

Exports from Vietnam

In 2022, shipments abroad of vegetables in vinegar other than potatoes decreased by -35.3% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 30%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, vinegar-preserved vegetable exports shrank to $X in 2022. Overall, exports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2014 when exports increased by 32% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons), Russia (X tons) and China (X tons) were the main destinations of vinegar-preserved vegetable exports from Vietnam, with a combined 68% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +38.6%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), South Korea ($X) and China ($X) were the largest markets for vinegar-preserved vegetable exported from Vietnam worldwide, together accounting for 67% of total exports.

China, with a CAGR of +39.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vinegar-preserved vegetable export price stood at $X per ton in 2022, increasing by 35% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinegar-preserved vegetable export price increased by +54.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Mongolia ($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 Russia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vinegar-Preserved Vegetable Imports

Imports into Vietnam

Vinegar-preserved vegetable imports into Vietnam rose rapidly to X tons in 2022, with an increase of 8.5% against the previous year's figure. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 702%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, vinegar-preserved vegetable imports rose markedly to $X in 2022. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2016 when imports increased by 811%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vinegar-preserved vegetable to Vietnam, accounting for a 79% share of total imports. Moreover, vinegar-preserved vegetable imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.2% per year) and South Korea (+8.0% per year).

In value terms, China ($X), the United States ($X) and South Korea ($X) appeared to be the largest vinegar-preserved vegetable suppliers to Vietnam, with a combined 97% share of total imports.

Among the main suppliers, China, with a CAGR of +45.7%, 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

The average vinegar-preserved vegetable import price stood at $X per ton in 2022, falling by -2% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 24%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then contracted modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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