Dry Vegetable Market

The global dry vegetable market is projected to see continued growth in both consumption and production from 2022 to 2030, with anticipated increases in both volume and value. Key consuming countries like China, India, and Israel, as well as major producers like China and India, are driving this growth. Imports and exports of dry vegetables are also on the rise, with key players like China, the United States, and Germany leading the way. Overall, the market is expected to see steady growth in the near future.

Market Forecast

Driven by increasing demand for dry vegetables worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $3.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Dry Vegetables

In 2022, the amount of dry vegetables consumed worldwide reached 1M tons, approximately equating the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak volume of 1.1M tons. From 2020 to 2022, the growth of the global consumption remained at a lower figure.

The global dry vegetable market size rose remarkably to $2.7B in 2022, with an increase of 8.7% 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). The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (79K tons), India (59K tons) and Israel (47K tons), with a combined 19% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Israel (with a CAGR of +49.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest dry vegetable markets worldwide were Japan ($275M), China ($232M) and Israel ($184M), with a combined 25% share of the global market.

Among the main consuming countries, Israel, with a CAGR of +51.1%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of dry vegetable per capita consumption in 2022 were Bulgaria (6.7 kg per person), Israel (5 kg per person) and Canada (1.1 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Israel (with a CAGR of +46.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Dry Vegetables

In 2022, global production of dry vegetables fell slightly to 1M tons, declining by -2% against the previous year. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 18% against the previous year. As a result, production attained the peak volume of 1.1M tons. From 2020 to 2022, global production growth remained at a lower figure.

In value terms, dry vegetable production declined slightly to $2.2B in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 18%. Over the period under review, global production hit record highs at $2.6B in 2017; however, from 2018 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (359K tons), India (184K tons) and Malaysia (122K tons), together accounting for 65% of global production. Egypt, Myanmar, Bulgaria, Uzbekistan, Poland, Spain, Russia, the United States and Turkey lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +1,014.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Dry Vegetables

In 2022, global dry vegetable imports was estimated at 841K tons, rising by 1.5% on 2021. The total import volume increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 9.6% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, dry vegetable imports rose modestly to $2.6B in 2022. The total import value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

The countries with the highest levels of dry vegetable imports in 2022 were Germany (73K tons), the United States (70K tons), Israel (48K tons), Canada (45K tons), the Netherlands (42K tons), Spain (40K tons), Japan (39K tons), Indonesia (29K tons), Brazil (28K tons), the UK (27K tons), Italy (25K tons) and Russia (24K tons), together recording 58% of total import. France (18K tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Israel (with a CAGR of +34.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest dry vegetable importing markets worldwide were Japan ($282M), the United States ($261M) and Germany ($249M), together comprising 31% of global imports. Israel, the Netherlands, Canada, the UK, France, Brazil, Russia, Indonesia, Spain and Italy lagged somewhat behind, together comprising a further 33%.

Israel, with a CAGR of +36.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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 dry vegetable import price amounted to $3,079 per ton, picking up by 2.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 7.5%. Global import price peaked in 2022 and is likely to continue growth in the near future.

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 ($7,281 per ton), while Spain ($1,331 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 (+7.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Dry Vegetables

In 2022, shipments abroad of dry vegetables decreased by -2.3% to 861K tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 19%. Over the period under review, the global exports reached the maximum at 881K tons in 2021, and then shrank in the following year.

In value terms, dry vegetable exports stood at $2.4B in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 25%. The global exports peaked at $2.5B in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, China (284K tons) represented the largest exporter of dry vegetables, committing 33% of total exports. India (127K tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (12%), the United States (6.3%) and Poland (4.7%). Germany (27K tons), the Netherlands (26K tons), Spain (25K tons), Egypt (23K tons) and Turkey (21K tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dry vegetable exports from China stood at +1.9%. At the same time, Malaysia (+37.4%), India (+7.6%), Poland (+5.5%), Egypt (+3.2%), Turkey (+2.7%) and the Netherlands (+1.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.4% from 2012-2022. Spain and the United States experienced a relatively flat trend pattern. By contrast, Germany (-1.1%) illustrated a downward trend over the same period. Malaysia (+11 p.p.) and India (+4.6 p.p.) significantly strengthened its position in terms of the global exports, while Germany, the United States and China saw its share reduced by -1.9%, -3.4% and -6.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($922M) remains the largest dry vegetable supplier worldwide, comprising 38% of global exports. The second position in the ranking was taken by the United States ($233M), with a 9.6% share of global exports. It was followed by India, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +2.2%. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+1.6% per year) and India (+8.4% per year).

Export Prices By Country

The average dry vegetable export price stood at $2,831 per ton in 2022, rising by 2.4% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 5.5%. The global export price peaked at $3,124 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($5,804 per ton), while Malaysia ($317 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform