Updated Jan 11, 2023 07:13

Preserved Asparagus Market in China

Market Overview
After four years of growth, the Chinese preserved asparagus market decreased by -% to $ in . Overall, the total consumption indicated notable growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2017 indices. Over the period under review, the market hit record highs at $ in , and then declined slightly in the following year.

In value terms, preserved asparagus production contracted modestly to $ in estimated in export price. In general, production saw a perceptible contraction. The pace of growth was the most pronounced in 2013 with an increase of % against the previous year. Preserved asparagus production peaked at $ in 2007; however, from 2008 to , production stood at a somewhat lower figure.


Consumption
In , consumption of preserved asparagus in China dropped slightly to tons, with a decrease of -% on the previous year's figure. Overall, the total consumption indicated a perceptible increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. Preserved asparagus consumption peaked at tons in , and then contracted modestly in the following year.

The revenue of the preserved asparagus market in China reduced slightly to $ in , declining by -% 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). In general, the total consumption indicated temperate growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2017 indices. Preserved asparagus consumption peaked at $ in , and then declined slightly in the following year.


Market Forecast
Driven by increasing demand for preserved asparagus in China, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

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


Market Structure
Over the period under review, imports of preserved asparagus in China were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for preserved asparagus. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
China remains a net exporter of preserved asparagus; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.