Eastern Asia: Vegetable Market 2024

Vegetable Market Size in Eastern Asia

The East Asian vegetable market reached $X in 2023, remaining stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Vegetable Production in Eastern Asia

In value terms, vegetable production expanded to $X in 2023 estimated in export price. The total production indicated a resilient increase from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 with an increase of X%. As a result, production attained the peak level of $X.9B. From 2017 to 2023, production growth remained at a lower figure.

The country with the largest volume of vegetable production was China (X tons), comprising approx. X% of total volume. It was followed by Japan (X tons), with a X% share of total production.

From 2012 to 2023, the average annual rate of growth in terms of volume in China stood at X%.

In 2023, the average yield of vegetables in Eastern Asia declined slightly to X tons per ha, leveling off at the previous year. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2023, the growth of the vegetable 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.

In 2023, the total area harvested in terms of vegetables production in Eastern Asia was estimated at X ha, approximately reflecting the previous year. In general, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the harvested area reached the peak level of X ha; afterwards, it flattened through to 2023.

Vegetable Exports

Exports in Eastern Asia

In 2023, the amount of vegetables exported in Eastern Asia rose sharply to X tons, increasing by X% against the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vegetable exports totaled $X in 2023. Total exports indicated a prominent expansion from 2012 to 2023: its value 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, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from China (X tons), together recording X% of total export.

China was also the fastest-growing in terms of the vegetables exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest vegetable supplier in Eastern Asia.

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

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, stabilizing at the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Vegetable Imports

Imports in Eastern Asia

In 2023, after three years of growth, there was significant decline in supplies from abroad of vegetables, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, vegetable imports dropped to $X in 2023. Total imports indicated a slight increase from 2012 to 2023: its value 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, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then dropped in the following year.

Imports by Country

China dominates imports structure, amounting to X tons, which was near X% of total imports in 2023. Hong Kong SAR (X tons) took the second position in the ranking, followed by Japan (X tons) and South Korea (X tons). All these countries together held near X% share of total imports. Taiwan (Chinese) (X tons) took a little share of total imports.

China was also the fastest-growing in terms of the vegetables imports, with a CAGR of X% from 2012 to 2023. Hong Kong SAR and Taiwan (Chinese) experienced a relatively flat trend pattern. Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported vegetables in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped slightly in the following year.

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 Japan ($X per ton), while China ($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