Asia-Pacific: Spinach Market 2024

Spinach Market Size in Asia-Pacific

The Asia-Pacific spinach market expanded slightly to $X in 2023, rising by X% against the previous year. In general, consumption, however, posted a resilient expansion. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Spinach Production in Asia-Pacific

In value terms, spinach production expanded to $X in 2023 estimated in export price. Over the period under review, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

China (X tons) constituted the country with the largest volume of spinach production, accounting for X% of total volume.

In China, spinach production expanded at an average annual rate of X% over the period from 2012-2023.

The average spinach yield contracted modestly to X tons per ha in 2023, remaining stable against the previous year. The yield figure 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the yield increased by X%. The level of yield peaked at X tons per ha in 2022, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the spinach harvested area in Asia-Pacific shrank modestly to X ha, remaining stable against the previous year. Overall, the harvested area, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to spinach production reached the peak figure at X ha in 2014; however, from 2015 to 2023, the harvested area remained at a lower figure.

Spinach Exports

Exports in Asia-Pacific

In 2023, after four years of growth, there was significant decline in overseas shipments of spinach, when their volume decreased by X% to X tons. Overall, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2022, and then contracted remarkably in the following year.

In value terms, spinach exports contracted dramatically to $X in 2023. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of X%. The level of export peaked at $X in 2022, and then dropped dramatically in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2023. It was distantly followed by Malaysia (X tons), committing a X% share of total exports.

China was also the fastest-growing in terms of the spinach exports, with a CAGR of X% from 2012 to 2023. Malaysia experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Malaysia (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest spinach supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

In China, spinach exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices attained the peak figure in 2023 and is likely to see gradual growth in the near future.

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 China ($X per ton), while Malaysia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Spinach Imports

Imports in Asia-Pacific

In 2023, after two years of decline, there was growth in overseas purchases of spinach, when their volume increased by X% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, spinach imports declined to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Singapore prevails in imports structure, recording X tons, which was approx. X% of total imports in 2023. Thailand (X tons) took the second position in the ranking, followed by Malaysia (X tons). All these countries together took near X% share of total imports. Macao SAR (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of spinach. At the same time, Malaysia (X%) and Macao SAR (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. Singapore (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR 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, Singapore ($X) constitutes the largest market for imported spinach in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with an X% share.

In Singapore, spinach imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, reducing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Singapore ($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