Vietnam: Market for Peel Of Citrus Fruit Or Melons 2024

Market Size for Peel Of Citrus Fruit Or Melons in Vietnam

In 2021, after three years of growth, there was significant decline in the Vietnamese market for peel of citrus fruit or melons, when its value decreased by -7% to $X. Over the period under review, consumption, however, showed a drastic downturn. Citrus fruit or melons peel consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Peel Of Citrus Fruit Or Melons in Vietnam

In value terms, citrus fruit or melons peel production fell to $X in 2021 estimated in export price. In general, production, however, recorded a deep reduction. The growth pace was the most rapid in 2014 when the production volume increased by 25%. Citrus fruit or melons peel production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Peel Of Citrus Fruit Or Melons

Exports from Vietnam

In 2021, overseas shipments of peel of citrus fruit or melons increased by 342% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2016 when exports increased by 1,021%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, citrus fruit or melons peel exports soared to $X in 2021. In general, exports, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2016 with an increase of 955% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for citrus fruit or melons peel exports from Vietnam, with a 78% share of total exports. Moreover, citrus fruit or melons peel exports to China exceeded the volume sent to the second major destination, the United States (X tons), sevenfold. Japan (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +37.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.3% per year) and Japan (-26.1% per year).

In value terms, China ($X) emerged as the key foreign market for peel of citrus fruit or melons exports from Vietnam, comprising 76% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Japan, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +58.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+17.7% per year) and Japan (-19.5% per year).

Export Prices by Country

The average export price for peel of citrus fruit or melons stood at $X per ton in 2021, rising by 22% against the previous year. Overall, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 48% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and the Netherlands ($X per ton), while the average price for exports to China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Peel Of Citrus Fruit Or Melons

Imports into Vietnam

Citrus fruit or melons peel imports into Vietnam skyrocketed to X tons in 2021, increasing by 255% on the previous year's figure. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 429%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, citrus fruit or melons peel imports soared to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 397% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The UK (X tons), China (X tons) and Spain (X tons) were the main suppliers of citrus fruit or melons peel imports to Vietnam, together comprising 79% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest citrus fruit or melons peel suppliers to Vietnam were the UK ($X), China ($X) and Spain ($X), together comprising 79% of total imports.

Among the main suppliers, China, with a CAGR of +43.4%, 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

In 2021, the average import price for peel of citrus fruit or melons amounted to $X per ton, with an increase of 7.7% against the previous year. In general, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, citrus fruit or melons peel import price increased by +39.9% against 2016 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :