ASEAN: Vinegar Market 2024

Vinegar Market Size in ASEAN

In 2023, the ASEAN vinegar market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. Over the period under review, consumption posted a tangible increase. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Vinegar Production in ASEAN

In value terms, vinegar production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Vinegar Exports

Exports in ASEAN

For the fourth year in a row, ASEAN recorded growth in shipments abroad of vinegar, which increased by X% to X tons in 2023. Overall, exports showed strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see steady growth in the immediate term.

In value terms, vinegar exports soared to $X in 2023. Over the period under review, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in years to come.

Exports by Country

The Philippines was the largest exporter of vinegar in ASEAN, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. Thailand (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together held near X% share of total exports. Singapore (X tons) held a minor share of total exports.

Exports from the Philippines increased at an average annual rate of X% from 2012 to 2023. At the same time, Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. From 2012 to 2023, the share of Thailand and Malaysia increased by X and X percentage points, respectively.

In value terms, the Philippines ($X) remains the largest vinegar supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Thailand, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the Philippines stood at X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Vinegar Imports

Imports in ASEAN

Vinegar imports declined to X tons in 2023, waning by X% against the year before. Over the period under review, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, vinegar imports shrank to $X in 2023. Total imports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

In 2023, Singapore (X tons) and Malaysia (X tons) represented the major importers of vinegar in ASEAN, together achieving X% of total imports. The Philippines (X tons) ranks next in terms of the total imports with a X% share, followed by Vietnam (X%), Thailand (X%), Indonesia (X%) and Cambodia (X%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vinegar importing markets in ASEAN were Malaysia ($X), Singapore ($X) and Thailand ($X), with a combined X% share of total imports. The Philippines, Vietnam, Indonesia, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together comprising a further X%.

Lao People's Democratic Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform