Vietnam: Dried Mushroom Market 2024

Dried Mushroom Market Size in Vietnam

In 2022, the Vietnamese dried mushroom market increased by 11% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption continues to indicate a buoyant expansion. Dried mushroom consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Dried Mushroom Production in Vietnam

In value terms, dried mushroom production declined to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 52% against the previous year. Dried mushroom production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Dried Mushroom Exports

Exports from Vietnam

In 2022, shipments abroad of dried mushrooms and truffles increased by 2.3% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2019 with an increase of 433% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, dried mushroom exports dropped to $X in 2022. Overall, exports posted significant growth. The growth pace was the most rapid in 2019 with an increase of 292% against the previous year. 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

China (X tons) was the main destination for dried mushroom exports from Vietnam, accounting for a 61% share of total exports. Moreover, dried mushroom exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was held by Cambodia (X tons), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +82.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+21.4% per year) and Cambodia (+0.3% per year).

In value terms, China ($X) remains the key foreign market for dried mushrooms and truffles exports from Vietnam, comprising 84% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 10% share of total exports. It was followed by South Korea, with a 0.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +86.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+7.1% per year) and South Korea (+6.7% per year).

Export Prices by Country

The average dried mushroom export price stood at $X per ton in 2022, reducing by -10% against the previous year. Over the period under review, the export price saw a slight reduction. The growth pace was the most rapid in 2014 when the average export price increased by 48%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($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 China (+2.7%), while the prices for the other major destinations experienced a decline.

Dried Mushroom Imports

Imports into Vietnam

In 2022, overseas purchases of dried mushrooms and truffles increased by 9.4% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 191% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, dried mushroom imports rose remarkably to $X in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 190% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest dried mushroom supplier to Vietnam, accounting for a 83% share of total imports. Moreover, dried mushroom imports from China exceeded the figures recorded by the second-largest supplier, Myanmar (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (+32.6% per year) and Hong Kong SAR (+8.9% per year).

In value terms, China ($X) constituted the largest supplier of dried mushrooms and truffles to Vietnam, comprising 97% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 0.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +22.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-10.0% per year) and Myanmar (+50.9% per year).

Import Prices by Country

In 2022, the average dried mushroom import price amounted to $X per ton, surging by 2.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 40%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+14.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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