IndexBox, Inc. has just published a new report “World – Asparagus – Market Analysis, Forecast, Size, Trends, and Insights“. Here is a summary of the report’s key findings.
The imports stood at 297K tonnes in 2017, standing approx. at the previous year figure. The total import volume increased at an average annual rate of +1.1% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2009 when imports increased by 24% from the previous year level. Global import peaked of 387K tonnes in 2014; however, from 2015 to 2017, it failed to regain its strength.
In value terms, asparagus imports amounted to $1.5B in 2017. In general, it indicated strong growth from 2007 to 2017: the total imports value increased at an average annual rate of +1.1% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, asparagus imports increased by +12.7% against its level of 2015. Global import peaked in 2017, and are expected to retain its growth in the immediate term.
Asparagus Imports By Country
In 2017, the U.S. (136K tonnes) represented the major importer of asparagus, creating 46% of total imports. Germany (25K tonnes) held the second position in the ranking, followed by Canada (21K tonnes), and France (14K tonnes). All these countries together held approx. 20% share of total imports. The UK (12K tonnes), Spain (12K tonnes), the Netherlands (11K tonnes), Japan (10K tonnes), Switzerland (9.1K tonnes), Belgium (6.7K tonnes), and Italy (4.5K tonnes) occupied the slight share of total imports.
The U.S. experienced a relatively flat trend pattern of asparagus imports. At the same time, Belgium (+5.3%), the UK (+3.4%), the Netherlands (+3.2%), Spain (+2.8%), and Canada (+1.5%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest growing importer in the world, with a CAGR of +5.3% from 2007-2017. Germany, Switzerland, and Italy experienced a relatively flat trend pattern. By contrast, France (-1.8%), and Japan (-2.2%) illustrated a downward trend over the same period. While the share of the U.S. (-4.0%) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($776M) constitutes the largest market for imported asparagus worldwide, making up 50% of global imports. The second position in the ranking was occupied by Germany ($99M), with the share of 6% of global imports. It was followed by Canada, with the share of 6%.
In the U.S., asparagus imports increased at an average annual rate of +8.0% over the period from 2007-2017. The remaining importing countries recorded the following average annual rates: Germany (+0.3% per year) and Canada (+3.5% per year).
Asparagus Import Prices By Country
In 2017, the average import price for asparagus amounted to $5,189 per tonne, picking up by 5% against the previous year. Overall, it indicated a remarkable growth from 2007 to 2017: the import price increased at an average annual rate of +4.0% over the last ten years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2017, asparagus import price increased by +22.4% against its level of 2013. The most prominent rate of growth was recorded in 2016 when import increased by 26% against the previous year level. Global import price peaked in 2017 and is expected to retain its growth in the near future.
Import prices varied noticeably by country of destination; the country with the highest import price was Japan ($6,419 per tonne), while Italy ($3,644 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by the U.S. (+7.0% per year), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global asparagus market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
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