Dried Vegetables Market

The global dried vegetables market is projected to experience growth in both volume and value terms over the next decade, with an anticipated CAGR of +3.3% and +5.3% respectively by 2030. Consumption of dried vegetables and mixtures of vegetables surged in 2022, with global consumption peaking and showing resilience. Italy, China, and the United States were the top consuming countries in 2022. Production and exports also saw steady growth, with China and Malaysia being key exporting countries. Import prices and values increased, with noticeable fluctuations in the trend pattern. Overall, the dried vegetables market is expected to see gradual growth in the near future, with key players like Italy, China, and the United States leading the way in consumption, production, and trade.

Market Forecast

Driven by increasing demand for dried vegetables and mixtures of vegetables worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 4.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $22.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Dried Vegetables And Mixtures Of Vegetables

In 2022, approx. 3.8M tons of dried vegetables and mixtures of vegetables were consumed worldwide; surging by 3.2% compared with the previous year. Overall, consumption showed a resilient expansion. Global consumption peaked in 2022 and is likely to see gradual growth in years to come.

The global dried vegetables market size stood at $15.2B in 2022, growing by 2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +105.1% against 2012 indices. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (480K tons), Italy (413K tons) and the United States (322K tons), together comprising 32% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Italy (with a CAGR of +41.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest dried vegetables markets worldwide were Italy ($2B), China ($1.4B) and Japan ($1.2B), with a combined 31% share of the global market.

Italy, with a CAGR of +32.9%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of dried vegetables per capita consumption was registered in Italy (7 kg per person), followed by Spain (1.6 kg per person), the United States (1 kg per person) and Germany (0.7 kg per person), while the world average per capita consumption of dried vegetables was estimated at 0.5 kg per person.

In Italy, dried vegetables per capita consumption expanded at an average annual rate of +41.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (+20.5% per year) and the United States (+8.9% per year).

Production

World Production of Dried Vegetables And Mixtures Of Vegetables

Global dried vegetables production was estimated at 3.8M tons in 2022, with an increase of 1.7% on the previous year's figure. Over the period under review, production saw a resilient expansion. The pace of growth was the most pronounced in 2017 when the production volume increased by 16% against the previous year. Global production peaked at 3.8M tons in 2020; afterwards, it flattened through to 2022.

In value terms, dried vegetables production contracted slightly to $13.3B in 2022 estimated in export price. In general, production showed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Global production peaked at $14.3B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (737K tons), Italy (395K tons) and the United States (287K tons), together accounting for 38% of global production.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +59.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Dried Vegetables And Mixtures Of Vegetables

In 2022, overseas purchases of dried vegetables and mixtures of vegetables increased by 0.6% to 612K tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 12%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, dried vegetables imports stood at $2B in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 14%. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports By Country

In 2022, the United States (61K tons), Germany (51K tons), Israel (47K tons), Canada (37K tons), Spain (34K tons), Japan (31K tons), the Netherlands (31K tons), Italy (24K tons), Brazil (18K tons), Russia (16K tons), France (15K tons) and South Korea (14K tons) was the largest importer of dried vegetables and mixtures of vegetables in the world, comprising 62% of total import. Poland (13K tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Israel (with a CAGR of +41.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest dried vegetables importing markets worldwide were Japan ($248M), the United States ($231M) and Israel ($193M), together accounting for 33% of global imports.

Among the main importing countries, Israel, with a CAGR of +41.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average dried vegetables import price amounted to $3,338 per ton, growing by 2.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2016 an increase of 11% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in years to come.

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 Japan ($7,995 per ton), while Spain ($1,217 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Dried Vegetables And Mixtures Of Vegetables

In 2022, the amount of dried vegetables and mixtures of vegetables exported worldwide fell to 589K tons, shrinking by -8.2% compared with the year before. Over the period under review, total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -12.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 23%. As a result, the exports reached the peak of 672K tons. From 2020 to 2022, the growth of the global exports remained at a lower figure.

In value terms, dried vegetables exports contracted to $1.9B in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 35%. Over the period under review, the global exports reached the peak figure at $2.1B in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports By Country

China represented the key exporting country with an export of around 261K tons, which recorded 44% of total exports. Malaysia (49K tons) held the second position in the ranking, followed by Poland (40K tons), India (35K tons) and the United States (27K tons). All these countries together held approx. 26% share of total exports. The following exporters - the Netherlands (21K tons), Turkey (21K tons), Germany (20K tons) and Spain (12K tons) - together made up 13% of total exports.

From 2012 to 2022, average annual rates of growth with regard to dried vegetables exports from China stood at +1.6%. At the same time, Malaysia (+45.7%), India (+12.7%), Poland (+11.0%), the Netherlands (+6.0%) and Turkey (+2.6%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +45.7% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Germany (-1.3%) and Spain (-4.1%) illustrated a downward trend over the same period. Malaysia (+8.1 p.p.), Poland (+3.5 p.p.) and India (+3.5 p.p.) significantly strengthened its position in terms of the global exports, while the United States, Germany, Spain and China saw its share reduced by -1.9%, -1.9%, -2.2% and -7.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($857M) remains the largest dried vegetables supplier worldwide, comprising 46% of global exports. The second position in the ranking was held by the United States ($143M), with a 7.6% share of global exports. It was followed by Germany, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +2.0%. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+1.8% per year) and Germany (+0.9% per year).

Export Prices By Country

The average dried vegetables export price stood at $3,188 per ton in 2022, picking up by 6.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 21%. Over the period under review, the average export prices reached the peak figure at $3,896 per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($6,535 per ton), while Malaysia ($358 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform