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Asia-Pacific - Vegetable - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

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Article Publishing Date: Jan 27, 2021

The Vegetable Market in Asia-Pacific to Continue Robust Growth

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IndexBox has just published a new report: 'Asia-Pacific - Vegetable - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

For the seventh consecutive year, the Asia-Pacific vegetable market recorded growth in sales value, which increased by 2.9% to $785.6B in 2019. The market value increased at an average annual rate of +2.7% from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the market hit record highs in 2019 and is likely to see gradual growth in the near future.

Consumption by Country

China (622M tonnes) constituted the country with the largest volume of vegetable consumption, comprising approx. 68% of total volume. Moreover, vegetable consumption in China exceeded the figures recorded by the second-largest consumer, India (170M tonnes), fourfold. The third position in this ranking was occupied by Viet Nam (18M tonnes), with a 2% share.

From 2013 to 2019, the average annual rate of growth in terms of volume in China totaled +2.1%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+2.0% per year) and Viet Nam (+4.4% per year).

In value terms, China ($536.6B) led the market, alone. The second position in the ranking was occupied by India ($92.9B). It was followed by Viet Nam.

In 2019, the highest levels of vegetable per capita consumption was registered in China (427 kg per person), followed by Viet Nam (187 kg per person), India (124 kg per person) and Bangladesh (95 kg per person), while the world average per capita consumption of vegetable was estimated at 216 kg per person.

Market Forecast to 2030

Vegetables constitute one of the world's basic food items; their production and consumption are widespread almost everywhere in the world. Vegetables are consumed in both fresh and processed form, as ingredients, canned food, etc. The demand for vegetables, therefore, mainly depends on the population growth and its dietary requirements; it is also determined to a certain extent by local household income, as vegetables constitute a staple dietary component. However, as incomes rise from the average figure and above, vegetable consumption is likely to increase at a slower rate than the consumption of more expensive food items (e.g. meat). 

Since vegetables constitute staple food items, the impact of the COVID-19 crisis on the demand should not lead to a sharp fall in consumption. Moreover, since most of the common vegetables are grown locally, the risk of the disruption of established supply chains including foreign growers, food handling and packaging intermediaries, as well as the distributor sector, due to asynchronous quarantine measures in different countries, will be less relevant. However, for imported vegetables, this could be a factor that hampers the market growth.

Over 2020-2021, accordingly, the market is set to grow slowly, driven by population growth and the demand for food. In the medium term, the market is expected to continue an upward consumption trend driven by increasing demand for vegetables. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.2% for the period from 2019 to 2030, which is projected to bring the market volume to 1,162M tonnes by the end of 2030.

Imports in Asia-Pacific

In 2019, after four years of growth, there was a decline in supplies from abroad of vegetables, when their volume decreased by -0.5% to 7.5M tonnes. The total import volume increased at an average annual rate of +1.9% from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, imports attained the maximum at 7.5M tonnes in 2018 and then dropped modestly in the following year. In value terms, vegetable imports shrank modestly to $4.4B (IndexBox estimates) in 2019.

Imports by Country

Malaysia (1,270K tonnes), Hong Kong SAR (856K tonnes), Japan (775K tonnes) and Indonesia (756K tonnes) represented roughly 49% of total imports of vegetables in 2019. Singapore (476K tonnes) held a 6.4% share (based on tonnes) of total imports, which put it in second place, followed by Thailand (5.7%), Sri Lanka (5.4%) and Bangladesh (4.7%). Nepal (304K tonnes), Taiwan (Chinese) (269K tonnes), Pakistan (261K tonnes), South Korea (261K tonnes) and Afghanistan (208K tonnes) followed a long way behind the leaders.

From 2013 to 2019, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bangladesh, while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vegetable importing markets in Asia-Pacific were Japan ($742M), Indonesia ($609M) and Malaysia ($584M), together accounting for 44% of total imports. These countries were followed by Hong Kong SAR, Singapore, Thailand, Taiwan (Chinese), South Korea, Bangladesh, Pakistan, Sri Lanka, Afghanistan and Nepal, which together accounted for a further 46%.

Source: IndexBox AI Platform

Product coverage:
• FCL 116 - Potatoes
• FCL 388 - Tomatoes, fresh
• FCL 402 - Onions, shallots (green)
• FCL 403 - Onions, dry
• FCL 406 - Garlic
• FCL 407 - Leeks and other alliaceous vegetables
• FCL 393 - Cauliflowers and broccoli
• FCL 372 - Lettuce and chicory
• FCL 426 - Carrot
• FCL 397 - Cucumbers and gherkins
• FCL 417 - Peas, green
• FCL 414 - Beans, green
• FCL 423 - String Beans
• FCL 367 - Asparagus
• FCL 399 - Eggplants
• FCL 401 - Chillies and peppers (green)
• FCL 373 - Spinach
• FCL 260 - Olives
• FCL 394 - Pumpkins, squash and gourds
• FCL 463 - Vegetables, Fresh n.e.s.
• FCL 446 - Green Corn (Maize)
• FCL 430 - Okra
• FCL 394 - Pumpkins, squash and gourds
• FCL 378 - Cassava leaves
• FCL 366 - Artichokes
• FCL 260 - Olives
• FCL 358 - Cabbages
• FCL 449 - Mushrooms
• FCL 366 - Artichokes

This report provides an in-depth analysis of the vegetable market in Asia-Pacific. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• Afghanistan
• American Samoa
• Bangladesh
• Bhutan
• Brunei Darussalam
• Cambodia
• China, Hong Kong SAR
• China, Macao SAR
• Cook Islands
• Democratic People's Republic of Korea
• Fiji
• French Polynesia
• Guam
• Kiribati
• Lao People's Democratic Republic
• Maldives
• Marshall Islands
• Micronesia (Federated States of)
• Myanmar
• Nauru
• Nepal
• New Caledonia
• New Zealand
• Niue
• Northern Mariana Islands
• Palau
• Papua New Guinea
• Samoa
• Solomon Islands
• Sri Lanka
• Taiwan, Chinese
• Timor-Leste
• Tokelau
• Tonga
• Tuvalu
• Vanuatu
• Wallis and Futuna Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Asia-Pacific, split by region and country
• Trade (exports and imports) in Asia-Pacific
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Afghanistan
• Australia
• Bangladesh
• Bhutan
• Brunei Darussalam
• Cambodia
• China
• China, Hong Kong SAR
• China, Macao SAR
• Cook Islands
• Fiji
• French Polynesia
• India
• Indonesia
• Japan
• Kiribati
• Malaysia
• Maldives
• Marshall Islands
• Micronesia (Federated States of)
• Myanmar
• Nepal
• New Caledonia
• New Zealand
• Northern Mariana Islands
• Pakistan
• Palau
• Papua New Guinea
• Philippines
• Samoa
• Singapore
• Solomon Islands
• South Korea
• Sri Lanka
• Taiwan, Chinese
• Thailand
• Timor-Leste
• Tokelau
• Tonga
• Tuvalu
• Vanuatu
• Viet Nam
• Wallis and Futuna Islands
• Lao People's Democratic Republic
• American Samoa
• Democratic People's Republic of Korea
• Nauru
• Niue
• Guam
LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption, By Country, 2015–2019
Table 5:
Production, In Physical Terms, By Country, 2007–2019
Table 6:
Harvested Area, By Country, 2007-2019
Table 7:
Yield, By Country, 2007-2019
Table 8:
Imports, In Physical Terms, By Country, 2007–2019
Table 9:
Imports, In Value Terms, By Country, 2007–2019
Table 10:
Import Prices, By Country Of Destination, 2007–2019
Table 11:
Exports, In Physical Terms, By Country, 2007–2019
Table 12:
Exports, In Value Terms, By Country, 2007–2019
Table 13:
Export Prices, By Country Of Origin, 2007–2019
Table 14:
Producer Prices, By Major Producing Country, 2019
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Consumption, By Country, 2019
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2007–2019
Figure 18:
Production, In Value Terms, 2007–2019
Figure 19:
Area Harvested, 2007–2019
Figure 20:
Yield, 2007–2019
Figure 21:
Production, By Country, 2019
Figure 22:
Production, In Physical Terms, By Country, 2007–2019
Figure 23:
Harvested Area, By Country, 2019
Figure 24:
Harvested Area, By Country, 2007-2019
Figure 25:
Yield, By Country, 2007-2019
Figure 26:
Imports, In Physical Terms, 2007–2019
Figure 27:
Imports, In Value Terms, 2007–2019
Figure 28:
Imports, In Physical Terms, By Country, 2019
Figure 29:
Imports, In Physical Terms, By Country, 2007–2019
Figure 30:
Imports, In Value Terms, By Country, 2007–2019
Figure 31:
Import Prices, By Country, 2007–2019
Figure 32:
Exports, In Physical Terms, 2007–2019
Figure 33:
Exports, In Value Terms, 2007–2019
Figure 34:
Exports, In Physical Terms, By Country, 2019
Figure 35:
Exports, In Physical Terms, By Country, 2007–2019
Figure 36:
Exports, In Value Terms, By Country, 2007–2019
Figure 37:
Export Prices, 2007–2019

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