Updated Jan 11, 2023 07:14

Preserved Asparagus Market in Denmark

Market Overview
The Danish preserved asparagus market soared to $ in , jumping 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). Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $ in 2014; however, from 2015 to , consumption remained at a lower figure.


Consumption
In , consumption of preserved asparagus increased by % to tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a pronounced setback. Over the period under review, consumption attained the maximum volume at tons in 2007; however, from 2008 to , consumption failed to regain momentum.

The revenue of the preserved asparagus market in Denmark soared to $ in , rising 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). Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $ in 2014; however, from 2015 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for preserved asparagus in Denmark, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract 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
Preserved asparagus market in Denmark consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Denmark remains a net importer of preserved asparagus; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.