Updated Jan 11, 2023 07:18

Preserved Asparagus Market in India

Market Overview
The Indian preserved asparagus market reduced slightly to $ in , therefore, remained relatively stable 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, consumption, however, saw a relatively flat trend pattern. Preserved asparagus consumption peaked at $ in 2019; however, from to , consumption failed to regain momentum.

In value terms, preserved asparagus production contracted to $ in estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by %. Over the period under review, production hit record highs at $ in 2019; afterwards, it flattened through to .


Consumption
In , the amount of preserved asparagus consumed in India declined to tons, almost unchanged from the year before. The total consumption volume increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption reached the peak volume at tons in 2019; however, from to , consumption remained at a lower figure.

The value of the preserved asparagus market in India fell modestly to $ in , almost unchanged from 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, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $ in 2019; however, from to , consumption remained at a lower figure.


Market Forecast
Driven by increasing demand for preserved asparagus in India, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, 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 India 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 less than % in value terms and less than % 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 less than % in value terms and less than % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
India 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 $.