Asia-Pacific: Spinach Market 2024

Spinach Market Size in Asia-Pacific

The Asia-Pacific spinach market rose to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, showed a prominent expansion. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Spinach Production in Asia-Pacific

In value terms, spinach production expanded slightly to $X in 2023 estimated in export price. Over the period under review, production, however, showed prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

The country with the largest volume of spinach production was China (X tons), comprising approx. X% of total volume.

In China, spinach production increased at an average annual rate of X% over the period from 2012-2023.

In 2023, the average spinach yield in Asia-Pacific dropped slightly to X tons per ha, remaining relatively unchanged against the previous year. The yield figure 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 pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the spinach yield hit record highs at X tons per ha in 2022, and then contracted slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2023, the spinach harvested area in Asia-Pacific declined to X ha, leveling off at 2022. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to spinach production reached the peak figure at X ha in 2014; however, from 2015 to 2023, the harvested area stood at a somewhat lower figure.

Spinach Exports

Exports in Asia-Pacific

In 2023, after four years of growth, there was significant decline in shipments abroad of spinach, when their volume decreased by X% to X tons. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of export peaked at X tons in 2022, and then dropped notably in the following year.

In value terms, spinach exports reduced remarkably to $X in 2023. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then dropped notably in the following year.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by Malaysia (X tons), constituting a X% share of total exports.

China was also the fastest-growing in terms of the spinach exports, with a CAGR of X% from 2012 to 2023. Malaysia experienced a relatively flat trend pattern. From 2012 to 2023, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest spinach supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

In China, spinach exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, rising by X% against the previous year. In general, the export price enjoyed a strong expansion. The growth pace was the most rapid in 2020 an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Spinach Imports

Imports in Asia-Pacific

In 2023, after two years of decline, there was significant growth in overseas purchases of spinach, when their volume increased by X% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, spinach imports reduced to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Singapore prevails in imports structure, amounting to X tons, which was near X% of total imports in 2023. Thailand (X tons) ranks second in terms of the total imports with a X% share, followed by Malaysia (X%). The following importers - Macao SAR (X tons) and Hong Kong SAR (X tons) - each finished at a X% share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of spinach. At the same time, Malaysia (X%) and Macao SAR (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Singapore (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR 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, Singapore ($X) constitutes the largest market for imported spinach in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with an X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

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

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, with a decrease of 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 appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Macao SAR ($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.

Source: IndexBox Platform