Eastern Asia: Asparagus Market 2024

Asparagus Market Size in Eastern Asia

The East Asian asparagus market was estimated at $X in 2023, remaining stable against the previous year. In general, consumption continues to indicate a mild downturn. As a result, consumption reached the peak level of $X. From 2017 to 2023, the growth of the market remained at a lower figure.

Asparagus Production in Eastern Asia

In value terms, asparagus production amounted to $X in 2023 estimated in export price. Overall, production recorded a pronounced decrease. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

The country with the largest volume of asparagus production was China (X tons), accounting for X% of total volume.

From 2012 to 2023, the average annual growth rate of volume in China was relatively modest.

In 2023, the average asparagus yield in Eastern Asia reduced to X tons per ha, remaining relatively unchanged against the previous year. In general, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2016 to 2023, the growth of the asparagus yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the total area harvested in terms of asparagus production in Eastern Asia dropped to X ha, remaining constant against the year before. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. The level of harvested area peaked at X ha in 2022, and then declined slightly in the following year.

Asparagus Exports

Exports in Eastern Asia

In 2023, asparagus exports in Eastern Asia surged to X tons, jumping by X% against 2022 figures. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, asparagus exports surged to $X in 2023. Over the period under review, exports, however, showed a pronounced descent. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, recording X tons, which was near X% of total exports in 2023. It was distantly followed by South Korea (X tons), constituting a X% share of total exports. Hong Kong SAR (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest asparagus supplying countries in Eastern Asia were China ($X), South Korea ($X) and Hong Kong SAR ($X), with a combined X% share of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the export price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2019 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

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

Asparagus Imports

Imports in Eastern Asia

In 2023, the amount of asparagus imported in Eastern Asia dropped to X tons, reducing by X% on the year before. In general, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, asparagus imports fell to $X in 2023. Over the period under review, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Japan represented the major importer of asparagus in Eastern Asia, with the volume of imports accounting for X tons, which was near X% of total imports in 2023. Taiwan (Chinese) (X tons) held the second position in the ranking, followed by Hong Kong SAR (X tons) and South Korea (X tons). All these countries together held near X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to asparagus imports into Japan stood at X%. At the same time, South Korea (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Hong Kong SAR (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported asparagus in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Japan stood at X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2023.

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 South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform