Vietnam: Frozen Potato Market 2024

Frozen Potato Market Size in Vietnam

In 2021, the Vietnamese frozen potato market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a noticeable shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Frozen Potato Production in Vietnam

In value terms, frozen potato production rose modestly to $X in 2021 estimated in export price. Overall, production, however, recorded a perceptible curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 31% against the previous year. Frozen potato production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Frozen Potato Exports

Exports from Vietnam

In 2021, overseas shipments of frozen potatoes decreased by -16.8% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 when exports increased by 201%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, frozen potato exports totaled $X in 2021. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 234% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), Belgium (X tons) and Australia (X tons) were the main destinations of frozen potato exports from Vietnam, with a combined 72% share of total exports. These countries were followed by Nigeria, the United States, France and South Korea, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nigeria (with a CAGR of +88.1%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Belgium ($X) and Australia ($X) constituted the largest markets for frozen potato exported from Vietnam worldwide, with a combined 45% share of total exports. These countries were followed by France, the United States, Nigeria and South Korea, which together accounted for a further 25%.

Nigeria, with a CAGR of +84.6%, recorded the highest rates of growth with regard to 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

In 2021, the average frozen potato export price amounted to $X per ton, picking up by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2018 an increase of 33% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into Vietnam

Frozen potato imports into Vietnam expanded significantly to X tons in 2021, surging by 13% against the year before. Overall, imports enjoyed a significant increase. The growth pace was the most rapid in 2016 when imports increased by 102% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, frozen potato imports expanded remarkably to $X in 2021. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 90%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of frozen potato to Vietnam, with a 42% share of total imports. Moreover, frozen potato imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+18.9% per year) and the Netherlands (+11.6% per year).

In value terms, the United States ($X) constituted the largest supplier of frozen potatoes to Vietnam, comprising 44% of total imports. The second position in the ranking was taken by Belgium ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +28.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+24.4% per year) and the Netherlands (+13.2% per year).

Import Prices by Country

The average frozen potato import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2018 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($X per ton) and the United States ($X per ton), while the price for Australia ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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