Vietnam: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in Vietnam

The Vietnamese agricultural product dryer market dropped modestly to $X in 2021, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a significant increase. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Agricultural Product Dryer Exports

Exports from Vietnam

In 2021, exports of dryers for the treatment of agricultural products from Vietnam dropped markedly to X units, falling by -41.7% against 2020. Over the period under review, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 145%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, agricultural product dryer exports shrank remarkably to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 133% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Lao People's Democratic Republic (X units), Indonesia (X units) and Thailand (X units) were the main destinations of agricultural product dryer exports from Vietnam, together comprising 71% of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +24.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for agricultural product dryer exported from Vietnam were Lao People's Democratic Republic ($X), Indonesia ($X) and Thailand ($X), with a combined 66% share of total exports. Cote d'Ivoire, India, South Korea and Cambodia lagged somewhat behind, together comprising a further 21%.

South Korea, with a CAGR of +61.2%, saw the highest growth rate of the value of exports, among 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 agricultural product dryer export price stood at $X per unit in 2021, reducing by -19.3% against the previous year. Overall, the export price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 an increase of 71% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to South Korea ($X per unit) and Cote d'Ivoire ($X per unit), while the average price for exports to Thailand ($X per unit) and Cambodia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+69.8%), while the prices for the other major destinations experienced a decline.

Agricultural Product Dryer Imports

Imports into Vietnam

For the fourth consecutive year, Vietnam recorded growth in overseas purchases of dryers for the treatment of agricultural products, which increased by 8.8% to X units in 2021. Overall, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 198% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, agricultural product dryer imports declined remarkably to $X in 2021. In general, imports posted a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 65%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest agricultural product dryer supplier to Vietnam, accounting for a 60% share of total imports. Moreover, agricultural product dryer imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), fourfold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +81.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+58.2% per year) and Taiwan (Chinese) (+41.1% per year).

In value terms, China ($X) constituted the largest supplier of dryers for the treatment of agricultural products to Vietnam, comprising 58% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Brazil, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.3% per year) and Brazil (+17.0% per year).

Import Prices by Country

The average agricultural product dryer import price stood at $X per unit in 2021, reducing by -37.8% against the previous year. Over the period under review, the import price recorded a dramatic contraction. The pace of growth appeared the most rapid in 2013 when the average import price increased by 40%. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-14.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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