Vietnam: Market for Grapefruit Juice (Single Strength) 2024

Market Size for Grapefruit Juice (Single Strength) in Vietnam

In 2021, the Vietnamese grapefruit juice (single strength) market increased by 496% to $X, rising for the sixth year in a row after three years of decline. Over the period under review, consumption recorded a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Grapefruit Juice (Single Strength) in Vietnam

In value terms, grapefruit juice (single strength) production skyrocketed to $X in 2021 estimated in export price. In general, production posted prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 95% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Grapefruit Juice (Single Strength)

Exports from Vietnam

In 2021, overseas shipments of grapefruit juice (single strength) decreased by -60.3% to X tons, falling for the second year in a row after eight years of growth. Overall, exports, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 56%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, grapefruit juice (single strength) exports reduced sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of 83% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for grapefruit juice (single strength) exports from Vietnam, accounting for a 48% share of total exports. Moreover, grapefruit juice (single strength) exports to South Korea exceeded the volume sent to the second major destination, China (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea stood at +25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-13.4% per year) and Bulgaria (-51.6% per year).

In value terms, South Korea ($X) remains the key foreign market for grapefruit juice (single strength) exports from Vietnam, comprising 48% of total exports. The second position in the ranking was taken by China ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to South Korea amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-12.8% per year) and Bulgaria (-51.1% per year).

Export Prices by Country

The average grapefruit juice (single strength) export price stood at $X per ton in 2021, waning by -1.5% against the previous year. In general, the export price continues to indicate a slight setback. The growth pace was the most rapid in 2018 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Bulgaria ($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 Bulgaria (+1.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Grapefruit Juice (Single Strength)

Imports into Vietnam

In 2021, purchases abroad of grapefruit juice (single strength) increased by 52% to X tons, rising for the third year in a row after three years of decline. In general, imports showed a noticeable expansion. The pace of growth appeared the most rapid in 2019 with an increase of 390%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, grapefruit juice (single strength) imports skyrocketed to $X in 2021. Over the period under review, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 1,029% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of grapefruit juice (single strength) to Vietnam, accounting for a 67% share of total imports. Moreover, grapefruit juice (single strength) imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), fourfold. The third position in this ranking was held by Cyprus (X tons), with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+84.3% per year) and Cyprus (+3.7% per year).

In value terms, China ($X), Australia ($X) and France ($X) appeared to be the largest grapefruit juice (single strength) suppliers to Vietnam, with a combined 91% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of +38.5%, 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 grapefruit juice (single strength) import price stood at $X per ton in 2021, shrinking by -16.6% against the previous year. In general, the import price, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2019 an increase of 130%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, 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 Australia ($X per ton), while the price for Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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