Asia: Asparagus Market 2024

Asparagus Market Size in Asia

The Asian asparagus market soared to $X in 2023, surging by X% against the previous year. Over the period under review, consumption recorded a drastic downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Asparagus Production in Asia

In value terms, asparagus production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production recorded a deep slump. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

China (X tons) remains the largest asparagus producing country in Asia, accounting for X% of total volume.

From 2012 to 2023, the average annual rate of growth in terms of volume in China was relatively modest.

The average asparagus yield contracted slightly to X tons per ha in 2023, leveling off at the previous year's figure. Overall, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2023, the growth of the asparagus yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The asparagus harvested area reduced modestly to X ha in 2023, remaining relatively unchanged against 2022. In general, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The level of harvested area peaked at X ha in 2022, and then reduced in the following year.

Asparagus Exports

Exports in Asia

In 2023, after five years of decline, there was significant growth in shipments abroad of asparagus, when their volume increased by X% to X tons. Over the period under review, exports, however, continue to indicate a abrupt descent. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, asparagus exports surged to $X in 2023. Overall, exports, however, continue to indicate a abrupt descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Thailand prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by China (X tons), constituting a X% share of total exports. The following exporters - Malaysia (X tons), Turkey (X tons) and Singapore (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to asparagus exports from Thailand stood at X%. At the same time, Turkey (X%), Malaysia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, China (X%) illustrated a downward trend over the same period. China (X p.p.), Malaysia (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest asparagus supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Thailand totaled X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, waning by X% against the previous year. Export price indicated mild growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, asparagus export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the export price figures.

Asparagus Imports

Imports in Asia

In 2023, overseas purchases of asparagus decreased by X% to X tons, falling for the fifth year in a row after three years of growth. Over the period under review, imports showed a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, asparagus imports contracted to $X in 2023. In general, imports saw a perceptible slump. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Japan represented the main importing country with an import of about X tons, which finished at X% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%), Singapore (X%) and South Korea (X%). The following importers - Malaysia (X tons) and the United Arab Emirates (X tons) - each recorded an X% share of total imports.

Imports into Japan decreased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%), the United Arab Emirates (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Hong Kong SAR and Singapore experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. South Korea (X p.p.), Hong Kong SAR (X p.p.), Singapore (X p.p.), the United Arab Emirates (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Japan ($X) constitutes the largest market for imported asparagus in Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Singapore, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Japan totaled X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Singapore (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform