Eastern Asia: Vegetable Product Market 2024

Vegetable Product Market Size in Eastern Asia

In 2022, the East Asian vegetable product market decreased by X% to $X, falling for the second year in a row after three years of growth. In general, consumption recorded a slight decrease. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Vegetable Product Production in Eastern Asia

In value terms, vegetable product production reached $X in 2022 estimated in export price. Overall, production showed a slight decrease. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

China (X tons) remains the largest vegetable product producing country in Eastern Asia, comprising approx. X% of total volume.

In China, vegetable product production contracted by an average annual rate of X% over the period from 2012-2022.

In 2022, the average vegetable product yield in Eastern Asia contracted sharply to X tons per ha, with a decrease of X% against 2021. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha, and then declined notably 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 2022, approx. X ha of vegetable products were harvested in Eastern Asia; with an increase of X% on 2021. Over the period under review, the harvested area, however, showed a pronounced shrinkage. Over the period under review, the harvested area dedicated to vegetable product production reached the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area failed to regain momentum.

Vegetable Product Exports

Exports in Eastern Asia

After three years of growth, shipments abroad of vegetable products decreased by X% to X tons in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. 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, and then reduced in the following year.

In value terms, vegetable product exports expanded modestly to $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value 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, exports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

China (X tons) represented roughly X% of total exports in 2022.

China was also the fastest-growing in terms of the vegetable products exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest vegetable product supplier in Eastern Asia.

In China, vegetable product exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Export price indicated a modest 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 increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Vegetable Product Imports

Imports in Eastern Asia

In 2022, purchases abroad of vegetable products increased by X% to X tons, rising for the sixth year in a row after two years of decline. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, vegetable product imports skyrocketed to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value 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, imports increased by X% against 2012 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the one major importers of vegetable products, namely China, represented more than two-thirds of total import.

China was also the fastest-growing in terms of the vegetable products imports, with a CAGR of X% from 2012 to 2022. While the share of China (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vegetable products in Eastern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. Overall, the import price continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2016 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Source: IndexBox Platform

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