Vietnam: Market for Orange Juice (Single Strength) 2024

Market Size for Orange Juice (Single Strength) in Vietnam

In 2021, the Vietnamese orange juice (single strength) market decreased by -2.3% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, saw a remarkable increase. Orange juice (single strength) consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Orange Juice (Single Strength) in Vietnam

In value terms, orange juice (single strength) production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 7.8% against the previous year. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Exports of Orange Juice (Single Strength)

Exports from Vietnam

After two years of growth, shipments abroad of orange juice (single strength) decreased by -72.1% to X tons in 2021. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 48% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, orange juice (single strength) exports contracted dramatically to $X in 2021. Overall, exports faced a abrupt setback. The pace of growth was the most pronounced in 2020 with an increase of 44% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for orange juice (single strength) exports from Vietnam, with a 66% share of total exports. Moreover, orange juice (single strength) exports to Singapore exceeded the volume sent to the second major destination, China (X tons), threefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore amounted to -15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+142.3% per year) and Hong Kong SAR (0.0% per year).

In value terms, Singapore ($X) remains the key foreign market for orange juice (single strength) exports from Vietnam, comprising 53% of total exports. The second position in the ranking was held by China ($X), with a 26% share of total exports. It was followed by Cambodia, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore amounted to -16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+101.7% per year) and Cambodia (-6.6% per year).

Export Prices by Country

The average orange juice (single strength) export price stood at $X per ton in 2021, falling by -5.5% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 6.9% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while the average price for exports to Singapore ($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 Sierra Leone (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Orange Juice (Single Strength)

Imports into Vietnam

In 2021, purchases abroad of orange juice (single strength) decreased by -75.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 111% against the previous year. Imports peaked at X tons in 2020, and then shrank rapidly in the following year.

In value terms, orange juice (single strength) imports fell dramatically to $X in 2021. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 105% against the previous year. Imports peaked at $X in 2020, and then fell remarkably in the following year.

Imports by Country

The United Arab Emirates (X tons), Thailand (X tons) and Australia (X tons) were the main suppliers of orange juice (single strength) imports to Vietnam, together accounting for 69% of total imports. Austria, Spain, Malaysia and Singapore lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +67.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest orange juice (single strength) suppliers to Vietnam were the United Arab Emirates ($X), Thailand ($X) and Australia ($X), with a combined 67% share of total imports. These countries were followed by Austria, Spain, Malaysia and Singapore, which together accounted for a further 33%.

Spain, with a CAGR of +45.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average orange juice (single strength) import price stood at $X per ton in 2021, waning by -30.6% against the previous year. Over the period under review, the import price showed a mild decline. The pace of growth appeared the most rapid in 2013 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Thailand ($X per ton) and Australia ($X per ton), while the price for the United Arab Emirates ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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