Report Update Nov 1, 2024

Vietnam - Figs - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Fig Market 2024

Fig Market Size in Vietnam

The Vietnamese fig market shrank sharply to $X in 2022, with a decrease of -24.7% against 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). In general, consumption, however, saw a prominent increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Fig Exports

Exports from Vietnam

Fig exports from Vietnam dropped to X tons in 2022, with a decrease of -3.6% against 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 23%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, fig exports dropped to $X in 2022. Overall, exports recorded a perceptible slump. The growth pace was the most rapid in 2021 when exports increased by 14%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for fig exports from Vietnam, accounting for a 50% share of total exports. Moreover, fig exports to China exceeded the volume sent to the second major destination, Qatar (X kg), twofold. Germany (X kg) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+10.2% per year) and Germany (+16.3% per year).

In value terms, the largest markets for fig exported from Vietnam were China ($X), Qatar ($X) and Macao SAR ($X), together accounting for 73% of total exports. Germany, Canada, Singapore and the UK lagged somewhat behind, together accounting for a further 24%.

Among the main countries of destination, Canada, with a CAGR of +90.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average fig export price amounted to $X per ton, shrinking by -2.9% against the previous year. Overall, the export price showed a noticeable setback. The most prominent rate of growth was recorded in 2021 an increase of 6.3%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to the UK ($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 Singapore (+5.1%), while the prices for the other major destinations experienced mixed trend patterns.

Fig Imports

Imports into Vietnam

Fig imports into Vietnam declined markedly to X tons in 2022, with a decrease of -22.9% on 2021 figures. Over the period under review, imports, however, enjoyed a temperate increase. The growth pace was the most rapid in 2018 with an increase of 164%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, fig imports shrank notably to $X in 2022. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 225% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Iran (X tons) was the main fig supplier to Vietnam, with a 97% share of total imports. It was followed by the United Arab Emirates (X kg), with a 2.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran amounted to +6.2%.

In value terms, Iran ($X) constituted the largest supplier of figs to Vietnam, comprising 99% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Iran stood at +8.4%.

Import Prices by Country

In 2022, the average fig import price amounted to $X per ton, remaining constant against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fig import price decreased by -11.0% against 2018 indices. The growth pace was the most rapid in 2018 when the average import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 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 Iran ($X per ton), while the price for the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+2.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for figs in the world?

The countries with the highest volumes of fig consumption in 2021 were Turkey, Egypt and Morocco, with a combined 45% share of global consumption. These countries were followed by Iran, Algeria, Spain, Syrian Arab Republic, the United States, India, Tunisia, Albania, France and Brazil, which together accounted for a further 37%.

What are the largest producers of figs in the world?

The countries with the highest volumes of fig production in 2021 were Turkey, Egypt and Morocco, together comprising 52% of global production. Iran, Algeria, Spain, Syrian Arab Republic, the United States, Tunisia, Albania, Brazil and Greece lagged somewhat behind, together comprising a further 35%.

What are the leading suppliers of figs to Vietnam?

In value terms, Iran constituted the largest supplier of fig to Vietnam, comprising 99% of total imports. The second position in the ranking was occupied by the United Arab Emirates $445), with a 0.4% share of total imports.

What are the leading importers of figs from Vietnam?

In value terms, Hong Kong SAR emerged as the key foreign market for fig exports from Vietnam, comprising 45% of total exports. The second position in the ranking was occupied by Macao SAR $864), with a 19% share of total exports. It was followed by Germany, with a 16% share.

What is the average export price for figs in Vietnam?

The average fig export price stood at $4,357 per ton in 2021, rising by 49% against the previous year.

What is the average import price for figs in Vietnam?

In 2021, the average fig import price amounted to $4,734 per ton, almost unchanged from the previous year.

This report provides an in-depth analysis of the fig market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 569 - Figs

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023