ASEAN: Tea Market 2024

Tea Market Size in ASEAN

In 2023, the ASEAN tea market decreased by X% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Tea Production in ASEAN

In value terms, tea production dropped markedly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Vietnam (X tons) remains the largest tea producing country in ASEAN, comprising approx. X% of total volume. Moreover, tea production in Vietnam exceeded the figures recorded by the second-largest producer, Indonesia (X tons), fivefold.

In Vietnam, tea production plunged by an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Indonesia (X% per year) and Myanmar (X% per year).

Tea Exports

Exports in ASEAN

In 2023, approx. X tons of tea were exported in ASEAN; with a decrease of X% against the previous year. Over the period under review, exports continue to indicate a mild reduction. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, tea exports shrank to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

Vietnam represented the largest exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Indonesia (X tons), creating a X% share of total exports. Myanmar (X tons), Malaysia (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to tea exports from Vietnam stood at X%. At the same time, Myanmar (X%), Thailand (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), Myanmar (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

In terms of the main exporting countries, Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, waning by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Tea Imports

Imports in ASEAN

In 2023, tea imports in ASEAN rose remarkably to X tons, increasing by X% compared with 2022 figures. The total import volume 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 2016 when imports increased by X%. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, tea imports contracted to $X in 2023. Total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Malaysia represented the main importing country with an import of around X tons, which recorded X% of total imports. Thailand (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Singapore (X%) and Vietnam (X%). The Philippines (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to tea imports into Malaysia stood at X%. At the same time, Thailand (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and the Philippines (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while the Philippines, Singapore and Indonesia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported tea in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

In Malaysia, tea imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, reducing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform