Updated Jan 11, 2023 07:30

Preserved Asparagus Market in Spain

Market Overview
The Spanish preserved asparagus market surged to $ in , picking up 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, consumption, however, showed a pronounced decline. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.

In value terms, preserved asparagus production reduced to $ in estimated in export price. Over the period under review, production showed a pronounced descent. The most prominent rate of growth was recorded in with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to , production stood at a somewhat lower figure.


Consumption
After two years of decline, consumption of preserved asparagus increased by % to tons in . Overall, consumption, however, continues to indicate a perceptible downturn. Preserved asparagus consumption peaked at tons in 2008; however, from 2009 to , consumption remained at a lower figure.

The value of the preserved asparagus market in Spain skyrocketed 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). Over the period under review, consumption, however, showed a perceptible slump. Preserved asparagus consumption peaked at $ in 2008; however, from 2009 to , consumption remained at a lower figure.


Market Forecast
Depressed by shrinking demand for preserved asparagus in Spain, 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 Spain consists almost entirely of imported products. The growth in the share of Spain imports of in the preserved asparagus market structure from % in 2007 to % in is explained by a more substantial reduction in output, compared with a decrease in imports. 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
Spain 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.