ASEAN: Vegetable Product Market 2024

Vegetable Product Market Size in ASEAN

In 2022, the ASEAN vegetable product market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, continues to indicate a mild decrease. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Product Production in ASEAN

In value terms, vegetable product production expanded sharply to $X in 2022 estimated in export price. In general, production, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Thailand (X tons) constituted the country with the largest volume of vegetable product production, comprising approx. X% of total volume. Moreover, vegetable product production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia (X tons), threefold. The Philippines (X tons) ranked third in terms of total production with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Indonesia (X% per year) and the Philippines (X% per year).

In 2022, the average yield of vegetable products in ASEAN expanded markedly to X tons per ha, picking up by X% compared with the previous year's figure. Overall, the yield, however, saw a mild reduction. Over the period under review, the vegetable product yield hit record highs at X tons per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The vegetable product harvested area expanded to X ha in 2022, growing by X% compared with the year before. In general, the harvested area showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2019 to 2022, the growth of the vegetable product harvested area remained at a lower figure.

Vegetable Product Exports

Exports in ASEAN

Vegetable product exports skyrocketed to X tons in 2022, picking up by X% against 2021 figures. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, vegetable product exports soared to $X in 2022. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Myanmar (X tons) and Indonesia (X tons) were the largest exporters of vegetable products in ASEAN, together recording near X% of total exports. Lao People's Democratic Republic (X tons) ranks next in terms of the total exports with a X% share, followed by Malaysia (X%) and Vietnam (X%). Thailand (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable product supplying countries in ASEAN were Indonesia ($X), Vietnam ($X) and Lao People's Democratic Republic ($X), together comprising X% of total exports. Myanmar, Thailand and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Myanmar, with a CAGR of X%, saw 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 export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable product export price decreased by X% against 2020 indices. The level of export peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Vegetable Product Imports

Imports in ASEAN

In 2022, supplies from abroad of vegetable products increased by X% to X tons, rising for the second year in a row after four years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vegetable product imports soared to $X in 2022. Over the period under review, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam represented the major importer of vegetable products in ASEAN, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Singapore (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%). The following importers - Indonesia (X tons) and the Philippines (X tons) - together made up X% of total imports.

Vietnam was also the fastest-growing in terms of the vegetable products imports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%) displayed positive paces of growth. By contrast, Singapore (X%), Thailand (X%) and the Philippines (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported vegetable products in ASEAN, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

In Vietnam, vegetable product imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Indonesia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price saw a strong increase. The growth pace was the most rapid in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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