South-Eastern Asia: Vegetable Product Market 2024

Vegetable Product Market Size in South-Eastern Asia

In 2022, the Southeast Asian vegetable product market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, showed a slight reduction. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Product Production in South-Eastern Asia

In value terms, vegetable product production rose remarkably to $X in 2022 estimated in export price. In general, production, however, saw a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 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.

The country with the largest volume of vegetable product production was Thailand (X tons), accounting for 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 growth rate 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 vegetable product yield in South-Eastern Asia expanded significantly to X tons per ha, with an increase of X% on 2021. Overall, the yield, however, saw a slight shrinkage. Over the period under review, the vegetable product yield attained the peak level 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.

In 2022, the total area harvested in terms of vegetable products production in South-Eastern Asia expanded modestly to X ha, picking up by X% on the year before. Over the period under review, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 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 failed to regain momentum.

Vegetable Product Exports

Exports in South-Eastern Asia

Vegetable product exports skyrocketed to X tons in 2022, with an increase of X% on 2021. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, vegetable product exports soared to $X in 2022. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, Myanmar (X tons) and Indonesia (X tons) were the largest exporters of vegetable products in South-Eastern Asia, together generating 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) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

Among the main exporting countries, Myanmar, 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 more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, growing by X% against the previous year. Export price indicated a prominent increase 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. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: 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 South-Eastern Asia

In 2022, purchases 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% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vegetable product imports skyrocketed to $X in 2022. Over the period under review, imports saw a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Vietnam represented the largest importing country with an import of about X tons, which recorded X% of total imports. Singapore (X tons) took the second position in the ranking, followed by Thailand (X tons). All these countries together took approx. X% share of total imports. 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. While the share of Vietnam (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (X p.p.), Singapore (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Indonesia (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price showed a remarkable increase. The pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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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