New Articles

The Global Potato Market Hits Record Highs

potato market

The Global Potato Market Hits Record Highs

IndexBox has just published a new report: ‘World – Potato – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2019, the global potato market increased by 6% to $140.5B, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +3.0% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hits record highs in 2019 and is expected to retain growth in years to come.

Consumption by Country

The countries with the highest volumes of potato consumption in 2019 were China (93M tonnes), India (51M tonnes) and Ukraine (23M tonnes), with a combined 45% share of global consumption. These countries were followed by Russia, the U.S., Bangladesh, Germany, Poland, the Netherlands, Canada and Belarus, which together accounted for a further 23%.

From 2007 to 2019, the most notable rate of growth in terms of potato consumption, amongst the leading consuming countries, was attained by Bangladesh, while potato consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($52.3B) led the market, alone. The second position in the ranking was occupied by India ($10.5B). It was followed by the U.S..

The countries with the highest levels of potato per capita consumption in 2019 were Belarus (591 kg per person), Ukraine (521 kg per person) and the Netherlands (350 kg per person).

Market Forecast 2019-2030

Driven by increasing demand for potato worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2019 to 2030, which is projected to bring the market volume to 441M tonnes by the end of 2030.

Production 2007-2019

In 2019, the amount of potatoes produced worldwide reached 371M tonnes, surging by 2.1% on the previous year. The total output volume increased at an average annual rate of +1.6% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2011 with an increase of 12% against the previous year. Global production peaked in 2019 and is expected to retain growth in years to come. The general positive trend in terms output was largely conditioned by a slight expansion of the harvested area and modest growth in yield figures.

Production by Country

The countries with the highest volumes of potato production in 2019 were China (93M tonnes), India (51M tonnes) and Ukraine (23M tonnes), with a combined 45% share of global production. These countries were followed by Russia, the U.S., Bangladesh, Germany, France, Poland, the Netherlands, Canada and Belarus, which together accounted for a further 25%.

From 2007 to 2019, the most notable rate of growth in terms of potato production, amongst the key producing countries, was attained by Bangladesh, while potato production for the other global leaders experienced more modest paces of growth.

Harvested Area 2007-2019

In 2019, the total area harvested in terms of potatoes production worldwide was estimated at 18M ha, approximately mirroring the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 with an increase of 2.7% year-to-year. As a result, the harvested area attained the peak level of 19M ha. From 2012 to 2019, the growth of the global potato harvested area failed to regain the momentum.

Yield 2007-2019

The global average potato yield stood at 21 tonne per ha in 2019, growing by 1.6% on 2018. The yield figure increased at an average annual rate of +1.7% over the period from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2011 when the yield increased by 8.9% year-to-year. Over the period under review, the average potato yield hit record highs in 2019 and is expected to retain growth in years to come.

Exports 2007-2019

In 2019, shipments abroad of potatoes increased by 4.9% to 15M tonnes, rising for the fourth consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.2% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 42% against the previous year. As a result, exports reached the peak of 16M tonnes. From 2014 to 2019, the growth of global exports remained at a lower figure.

In value terms, potato exports rose rapidly to $4.8B (IndexBox estimates) in 2019. The total export value increased at an average annual rate of +2.8% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

Exports by Country

In 2019, France (3.5M tonnes), distantly followed by Germany (1.9M tonnes), the Netherlands (1.8M tonnes), Belgium (1M tonnes) and Egypt (0.7M tonnes) were the main exporters of potatoes, together committing 60% of total exports. Pakistan (625K tonnes), the U.S. (550K tonnes), Canada (504K tonnes), China (471K tonnes), India (417K tonnes), Spain (303K tonnes) and Saudi Arabia (294K tonnes) followed a long way behind the leaders.

From 2007 to 2019, the biggest increases were in India, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest potato supplying countries worldwide were France ($812M), the Netherlands ($800M) and Germany ($440M), together comprising 43% of global exports. China, Egypt, the U.S., Belgium, Canada, Spain, Pakistan, India and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

In terms of the main exporting countries, India recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average potato export price stood at $323 per tonne in 2019, picking up by 4.1% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 when the average export price increased by 18% year-to-year. As a result, export price attained the peak level of $375 per tonne. From 2012 to 2019, the growth in terms of the average export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was China ($613 per tonne), while Saudi Arabia ($170 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

canned meat

Global Canned Meat Market Grows For the Fourth Consecutive Year

IndexBox has just published a new report: ‘World – Canned Meat – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

In 2019, the global canned meat market increased by 2.9% to $245.5B, rising for the fourth year in a row after two years of decline. The market value increased at an average annual rate of +3.2% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 with an increase of 13% against the previous year. Global consumption peaked in 2019 and is likely to see steady growth in the immediate term.

Consumption By Country

China (10M tonnes) constituted the country with the largest volume of canned meat consumption, comprising approx. 18% of total volume. Moreover, canned meat consumption in China exceeded the figures recorded by the second-largest consumer, India (3.8M tonnes), threefold. The third position in this ranking was occupied by Russia (2.1M tonnes), with a 3.6% share.

In China, canned meat consumption increased at an average annual rate of +1.1% over the period from 2007-2019. In the other countries, the average annual rates were as follows: India (+2.7% per year) and Russia (+1.7% per year).

In value terms, China ($45.8B) led the market, alone. The second position in the ranking was occupied by India ($16.7B). It was followed by Japan.

The countries with the highest levels of canned meat per capita consumption in 2019 were the UK (18 kg per person), Japan (16 kg per person) and Germany (15 kg per person).

Market Forecast 2019-2030

Driven by increasing demand for canned meat worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.2% for the period from 2019 to 2030, which is projected to bring the market volume to 58M tonnes by the end of 2030.

Production 2007-2019

For the fifth consecutive year, the global market recorded growth in production of canned meat, which increased by 1.6% to 57M tonnes in 2019. The total output volume increased at an average annual rate of +1.8% over the period from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 3.3% against the previous year. Over the period under review, global production hit record highs in 2019 and is likely to see gradual growth in the immediate term.

In value terms, canned meat production rose modestly to $1,808.7B in 2019 estimated in export prices. The total output value increased at an average annual rate of +3.9% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

Production By Country

China (11M tonnes) remains the largest canned meat producing country worldwide, comprising approx. 19% of total volume. Moreover, canned meat production in China exceeded the figures recorded by the second-largest producer, India (3.8M tonnes), threefold. Russia (2.1M tonnes) ranked third in terms of total production with a 3.6% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in China totaled +1.0%. The remaining producing countries recorded the following average annual rates of production growth: India (+2.7% per year) and Russia (+1.8% per year).

Exports 2007-2019

In 2019, approx. 3.9M tonnes of canned meat were exported worldwide; standing approx. at the year before. The total export volume increased at an average annual rate of +2.7% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 when exports increased by 8.9% against the previous year. Over the period under review, global exports hit record highs in 2019 and are expected to retain growth in years to come.

In value terms, canned meat exports rose modestly to $16.9B (IndexBox estimates) in 2019. The total export value increased at an average annual rate of +3.9% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

Exports by Country

Thailand (632K tonnes), China (432K tonnes), Germany (358K tonnes), Poland (275K tonnes), the U.S. (272K tonnes), the Netherlands (236K tonnes), Brazil (217K tonnes), Belgium (149K tonnes), Ireland (145K tonnes), Denmark (144K tonnes) and France (139K tonnes) represented roughly 76% of total exports of canned meat in 2019. Italy (78K tonnes) held a relatively small share of total exports.

From 2007 to 2019, the biggest increases were in Poland, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Thailand ($2.9B), China ($1.9B) and Germany ($1.7B) appeared to be the countries with the highest levels of exports in 2019, together accounting for 38% of global exports. These countries were followed by the U.S., Poland, the Netherlands, Brazil, Ireland, Belgium, France, Denmark and Italy, which together accounted for a further 42%.

Export Prices by Country

In 2019, the average canned meat export price amounted to $4,278 per tonne, therefore, remained relatively stable against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2008 when the average export price increased by 12% year-to-year. Global export price peaked at $4,550 per tonne in 2014; however, from 2015 to 2019, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Ireland ($5,652 per tonne), while Poland ($3,607 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Imports 2007-2019

In 2019, purchases abroad of canned meat decreased by -0.4% to 3.8M tonnes for the first time since 2015, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.6% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2011 with an increase of 12% y-o-y. Over the period under review, global imports hit record highs at 3.8M tonnes in 2018, and then dropped in the following year.

In value terms, canned meat imports declined to $16.3B (IndexBox estimates) in 2019. The total import value increased at an average annual rate of +3.6% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.

Imports by Country

Japan (723K tonnes) and the UK (584K tonnes) represented roughly 34% of total imports of canned meat in 2019. Germany (235K tonnes) occupied the next position in the ranking, followed by the Netherlands (192K tonnes) and China, Hong Kong SAR (181K tonnes). All these countries together held near 16% share of total imports. The following importers – France (153K tonnes), the U.S. (146K tonnes), Canada (128K tonnes), Belgium (104K tonnes), Ireland (102K tonnes), Denmark (77K tonnes) and Sweden (57K tonnes) – together made up 20% of total imports.

From 2007 to 2019, the biggest increases were in China, Hong Kong SAR, while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($3.2B), the UK ($2.5B) and Germany ($1.1B) appeared to be the countries with the highest levels of imports in 2019, with a combined 41% share of global imports. The U.S., the Netherlands, France, Canada, China, Hong Kong SAR, Belgium, Ireland, Denmark and Sweden lagged somewhat behind, together comprising a further 32%.

In terms of the main importing countries, China, Hong Kong SAR recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average canned meat import price stood at $4,294 per tonne in 2019, flattening at the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2008 when the average import price increased by 12% y-o-y. Over the period under review, average import prices attained the peak figure at $4,656 per tonne in 2014; however, from 2015 to 2019, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($6,862 per tonne), while China, Hong Kong SAR ($3,121 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

apple market

Global Apple Market Reached $78M, but the Pandemic Might Put a Drag on Further Growth

IndexBox has just published a new report: ‘World – Apple – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global apple market was finally on the rise to reach $78.8B in 2019, after four years of decline. Over the period under review, the total market indicated a temperate expansion from 2007 to 2019: its value increased at an average annual rate of +2.1% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 16% y-o-y. Global consumption peaked in 2019 and is expected to retain growth in the immediate term.

COVID-19: Challenges and Opportunities

The COVID-19 pandemic triggered noticeable transformation of the markets throughout the world, in particular, with regard to the apple market. So far, the uncertainty regarding the depth of both the global and the national economic decline is too great to make reliable forecasts. However, changes are currently taking place in key market fundamentals: macroeconomic background, sales channels, supply chains, consumer behavior and prices.

According to the IMF, even several months lived outbreak would lead to at least a 3% contraction of the global GDP in 2020. Previously, during the 2008-2009 crisis, apple production in the world remained stable, but then it stagnated in 2010 and afterward, it continued robust growth.

Since apple constitutes a kind of staple food, the apple market is not too susceptible to falling incomes and economic downturns. However, apples are consumed widely in the HoReCa sector that suffered heavily from the pandemic. Given those assumptions, the contraction of the market in the short term of 2020 might be perceptible but not disastrous. In the medium term, the market growth may be hampered by the possible lack of investment into apple orchards in 2020 due to the economic uncertainty and tight financial conditions for both farmers and investors.

Major supply chain risk comes from possible weather effects rather than the economic crisis. It may be caused by the mild temperatures during the winter season of 2019-2020, which is particularly relevant for Eastern Europe. The mild temperatures could also result in an early blooming that may later cause the fruits to suffer the risk of a freeze.

Certain supply chain risks also exist with regard to quarantine measures.  While workers are locked down, the period of the treatment of trees begins, which is followed by the flowering period; those periods are critical for the appropriate orchard management. This may reduce the future quality of apples or require additional pesticide use to treat plant diseases. Moreover, in China, which is the largest producing country, there is a concern among beekeepers as they cannot serve their beehives appropriately due to the lockdown. This, in turn, may affect the pollination severely and thereby reduce harvests of fruits pollinated by bees; however, the impact of the problem may be rather local than systematically affect the entire market.

Another risk may appear due to the disruption of established international supply chains including food handling and packaging intermediaries, as well as in the processing sector. Supply chains may be undermined by asynchronous quarantine measures taken in the involved countries as well as the restraints in deliveries. However, this is now mitigated by the gradual re-opening of the economies in China, Europe, and other countries; the supply chains are also to be re-established.

Pastry containing apples and apple jams, as well as apple juice, constitute a popular product in cafes, especially in Europe and Western countries, but now this sales channel temporarily collapsed due to the quarantine. Given the limitations of the HoReCa sector, online retail is becoming a key channel for the sale of food products, including apples, apple juice, and processed apple products. Moreover, contactless delivery becomes a ‘must-have’ option for retail services.

Accordingly, retail packaging adapted to different consumption situations becomes more popular, especially for processed apple products: family packages, single person packages of various shapes and dimensions, etc.

As online retail becomes the key sales channel, advertising budgets are to shift increasingly from point-of-sale advertising towards Internet messengers and social networks. Furthermore, increased consumer attention to health stimulates changes in branding and promotion towards focusing on the health benefits of apples and apple products.

Consumption By Country

China (40M tonnes) remains the largest apple consuming country worldwide, comprising approx. 48% of total volume. Moreover, apple consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (4M tonnes), tenfold. Turkey (2.7M tonnes) ranked third in terms of total consumption with a 3.3% share.

In China, apple consumption increased at an average annual rate of +3.4% over the period from 2007-2019. In the other countries, the average annual rates were as follows: the U.S. (+0.7% per year) and Turkey (+0.9% per year).

In value terms, China ($44.9B) led the market, alone. The second position in the ranking was occupied by the U.S. ($4.6B). It was followed by France.

The countries with the highest levels of apple per capita consumption in 2019 were Poland (45 kg per person), Turkey (33 kg per person) and Iran (33 kg per person).

Production 2007-2019

In 2019, production of apples increased by 6.7% to 84M tonnes for the first time since 2016, thus ending a two-year declining trend. The total output volume increased at an average annual rate of +2.1% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period.

The pace of growth was the most pronounced in 2011 with an increase of 8.1% year-to-year. Over the period under review, global production attained the maximum volume at 85M tonnes in 2014; however, from 2015 to 2019, production failed to regain the momentum. The general positive trend in terms output was largely conditioned by a temperate increase of the harvested area and a mild expansion in yield figures.

Production By Country

China (41M tonnes) remains the largest apple producing country worldwide, accounting for 49% of total volume. Moreover, apple production in China exceeded the figures recorded by the second-largest producer, the U.S. (4.7M tonnes), ninefold. The third position in this ranking was occupied by Turkey (3M tonnes), with a 3.6% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in China amounted to +3.3%. The remaining producing countries recorded the following average annual rates of production growth: the U.S. (+1.0% per year) and Turkey (+1.7% per year).

Harvested Area 2007-2019

In 2019, the global apple harvested area expanded to 5.1M ha, increasing by 3.5% on the previous year’s figure. In general, the harvested area saw a relatively flat trend pattern. Over the period under review, the harvested area dedicated to apple production attained the maximum at 5.2M ha in 2015; however, from 2016 to 2019, the harvested area stood at a somewhat lower figure.

Yield 2007-2019

The global average apple yield rose modestly to 17 tonne per ha in 2019, with an increase of 3.1% compared with the year before. The yield figure increased at an average annual rate of +1.4% over the period from 2007 to 2019; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2011 when the yield increased by 6.2% against the previous year. Over the period under review, the average apple yield attained the peak level at 17 tonne per ha in 2017; however, from 2018 to 2019, the yield stood at a somewhat lower figure.

Exports 2007-2019

Global apple exports reached 8.2M tonnes in 2019, remaining constant against 2018. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 11% against the previous year. As a result, exports reached the peak of 9.3M tonnes. From 2016 to 2019, the growth of global exports remained at a somewhat lower figure.

In value terms, apple exports dropped to $7B (IndexBox estimates) in 2019. The total export value increased at an average annual rate of +1.2% from 2007 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period.

Exports by Country

The shipments of the five major exporters of apples, namely Poland, China, Italy, the U.S. and Chile, represented more than half of total export. It was followed by South Africa (464K tonnes), New Zealand (432K tonnes) and France (381K tonnes), together creating a 16% share of total exports. Turkey (256K tonnes), Moldova (255K tonnes), Serbia (217K tonnes) and Belgium (195K tonnes) took a minor share of total exports.

From 2007 to 2019, the biggest increases were in Turkey, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($1.2B), the U.S. ($962M) and Italy ($841M) were the countries with the highest levels of exports in 2019, with a combined 44% share of global exports. Chile, New Zealand, France, South Africa, Poland, Serbia, Moldova, Belgium and Turkey lagged somewhat behind, together comprising a further 39%.

Export Prices by Country

The average apple export price stood at $853 per tonne in 2019, which is down by -6.6% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the average export price increased by 14% year-to-year. Global export price peaked at $913 per tonne in 2018, and then fell in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was New Zealand ($1,311 per tonne), while Turkey ($350 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, while the other global leaders experienced more modest paces of growth.

Imports 2007-2019

In 2019, global apple imports shrank slightly to 8M tonnes. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 14% against the previous year. As a result, imports reached the peak of 9.7M tonnes. From 2016 to 2019, the growth of global imports remained at a somewhat lower figure.

In value terms, apple imports shrank modestly to $7.2B (IndexBox estimates) in 2019. The total import value increased at an average annual rate of +1.6% from 2007 to 2019; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years.

Imports by Country

Russia (701K tonnes) and Germany (603K tonnes) represented roughly 16% of total imports of apples in 2019. The UK (342K tonnes), Egypt (297K tonnes), Bangladesh (252K tonnes), India (250K tonnes), the Netherlands (242K tonnes), Belarus (222K tonnes), Viet Nam (219K tonnes), Spain (218K tonnes), Canada (202K tonnes) and China, Hong Kong SAR (189K tonnes) followed a long way behind the leaders.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Egypt, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest apple importing markets worldwide were Germany ($482M), the UK ($424M) and Russia ($394M), together accounting for 18% of global imports. Viet Nam, the Netherlands, India, China, Hong Kong SAR, Canada, Bangladesh, Spain, Egypt and Belarus lagged somewhat behind, together accounting for a further 27%.

Import Prices by Country

In 2019, the average apple import price amounted to $897 per tonne, declining by -1.6% against the previous year. Over the last twelve-year period, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2011 when the average import price increased by 13% y-o-y. Over the period under review, average import prices reached the peak figure at $911 per tonne in 2018, and then reduced modestly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Viet Nam ($1,608 per tonne), while Belarus ($285 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Viet Nam, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

millet

U.S. Millet Market – Key Statistics and Trends

IndexBox has just published a new report: ‘U.S. – Millet – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the millet market in the U.S. amounted to $106M in 2018, approximately equating 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).

The market value increased at an average annual rate of +1.7% over the period from 2014 to 2018; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded over the period under review. The pace of growth appeared the most rapid in 2017 with an increase of 10% against the previous year. In that year, the millet market attained its peak level of $108M, and then declined slightly in the following year.

Market Forecast to 2030

Driven by increasing demand for millet in the U.S., the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2018 to 2030, which is projected to bring the market volume to 312K tonnes by the end of 2030.

Production in the U.S.

Millet production in the U.S. amounted to 326K tonnes in 2018, dropping by -19.5% against the previous year. From 2014 to 2018, the total output volume increased at an average annual rate of +1.6%, which was largely conditioned by a slight expansion of the harvested area and a perceptible increase in yield figures.

Harvested Area in the U.S.

Millet harvested area in the U.S. stood at 163K ha in 2018, stabilizing at the previous year. Over the period under review, the harvested area dedicated to millet production attained its peak figure at 174K ha in 2014; however, from 2015 to 2018, harvested area failed to regain its momentum.

Yield in the U.S.

In 2018, the average millet yield in the U.S. amounted to 2 tonne per ha, declining by -19.5% against the previous year. The yield figure increased at an average annual rate of +3.3% from 2014 to 2018.

Exports from the U.S.

Millet exports from the U.S. totaled 43K tonnes in 2018, going down by -48% against the previous year. In value terms, millet exports amounted to $16M (IndexBox estimates).

Exports by Country

Canada (11K tonnes), Indonesia (5.6K tonnes) and the Philippines (3.7K tonnes) were the main destinations of millet exports from the U.S., with a combined 47% share of total exports. Malaysia, Namibia, Mexico, Japan, Germany, Thailand, the UK and the United Arab Emirates lagged somewhat behind, together accounting for a further 39%.

In value terms, Canada ($3.6M), Indonesia ($1.8M) and the Philippines ($1.2M) constituted the largest markets for millet exported from the U.S. worldwide, together accounting for 43% of total exports. Malaysia, Namibia, the UK, Germany, Thailand, Mexico, Japan and the United Arab Emirates lagged somewhat behind, together comprising a further 41%.

Among the main countries of destination, Namibia recorded the highest growth rate of the value of exports, over the period under review, while exports for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2018, the average millet export price amounted to $367 per tonne, surging by 16% against the previous year.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was the UK ($600 per tonne), while the average price for exports to Mexico ($295 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Thailand, while the prices for the other major destinations experienced a decline.

Source: IndexBox AI Platform

frozen fish

Global Frozen Fish Market – China Holds 17 Percent of World Exports, with $7.6B in 2018

IndexBox has just published a new report: ‘World – Frozen Fish – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global frozen fish market revenue amounted to $118.3B in 2018, rising by 6.6% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2014 to 2018.

Driven by increasing demand for frozen fish worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2018 to 2030, which is projected to bring the market volume to 43M tonnes by the end of 2030.

Frozen Fish Trade 2014-2018

In 2018, the global exports of frozen fish amounted to 17M tonnes, increasing by 6.5% against the previous year. The total export volume increased at an average annual rate of +2.8% from 2014 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 7.1% year-to-year. Over the period under review, global frozen fish exports reached their maximum in 2018 and are likely to continue its growth in the near future.

In value terms, frozen fish exports stood at $43.9B (IndexBox estimates) in 2018.

Exports by Country

The exports of the twelve major exporters of frozen fish, namely China, Russia, the U.S., Viet Nam, Norway, the Netherlands, Chile, Taiwan, Chinese, Japan, Spain, Namibia and India, represented more than half of total export.

From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India, while exports for the other global leaders experienced more modest paces of growth.

In value terms, China ($7.6B) remains the largest frozen fish supplier worldwide, comprising 17% of global exports. The second position in the ranking was occupied by the U.S. ($3.6B), with a 8.2% share of global exports. It was followed by Russia, with a 6.7% share.

Export Prices by Country

In 2018, the average frozen fish export price amounted to $2,574 per tonne, increasing by 2.9% against the previous year. Over the period under review, the frozen fish export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 2.9% y-o-y. Over the period under review, the average export prices for frozen fish attained their maximum at $2,628 per tonne in 2014; afterwards, it flattened through to 2018.

Prices varied noticeably by the country of origin; the country with the highest price was Chile ($5,059 per tonne), while Namibia ($1,334 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by India, while the other global leaders experienced more modest paces of growth.

Imports by Country

In 2018, China (2.2M tonnes), followed by Thailand (1.4M tonnes), Japan (1.4M tonnes), the U.S. (1M tonnes) and South Korea (0.9M tonnes) were the largest importers of frozen fish, together making up 40% of total imports. The following importers – Viet Nam (706K tonnes), Nigeria (581K tonnes), Spain (515K tonnes), the Netherlands (470K tonnes), Germany (436K tonnes), Cameroon (404K tonnes) and Russia (371K tonnes) – together made up 20% of total imports.

From 2014 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Viet Nam, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest frozen fish importing markets worldwide were Japan ($6B), the U.S. ($5B) and China ($4B), together comprising 34% of global imports. Thailand, South Korea, Viet Nam, Germany, Spain, the Netherlands, Russia, Nigeria and Cameroon lagged somewhat behind, together accounting for a further 29%.

Import Prices by Country

The average frozen fish import price stood at $2,582 per tonne in 2018, picking up by 2.2% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was the U.S. ($5,112 per tonne), while Nigeria ($839 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

preserved vegetable

Global Temporarily Preserved Vegetable Trade – Italy, Japan, and France are the World’s Largest Importers

IndexBox has just published a new report: ‘World – Temporarily Preserved Vegetable – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

Imports 2007-2018

In 2018, the amount of canned vegetables imported worldwide totaled 593K tonnes, standing approx. at the previous year. Overall, temporarily preserved vegetable imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 13% against the previous year. In that year, global temporarily preserved vegetable imports attained their peak of 595K tonnes, leveling off in the following year.

In value terms, temporarily preserved vegetable imports stood at $649M (IndexBox estimates) in 2018.

Imports by Country

The countries with the highest levels of temporarily preserved vegetable imports in 2018 were Japan (71K tonnes), South Korea (66K tonnes), Italy (55K tonnes), Spain (44K tonnes), France (41K tonnes), Brazil (31K tonnes), Russia (31K tonnes), the U.S. (26K tonnes), Belgium (21K tonnes), Germany (20K tonnes), the UK (19K tonnes) and Chile (15K tonnes), together reaching 74% of total import.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Brazil, while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest temporarily preserved vegetable importing markets worldwide were Italy ($98M), Japan ($77M) and France ($50M), together accounting for 35% of global imports. Spain, Germany, Brazil, Belgium, South Korea, the U.S., the UK, Russia and Chile lagged somewhat behind, together comprising a further 39%.

Among the main importing countries, Brazil experienced the highest growth rate of the value of imports, over the period under review, while imports for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average temporarily preserved vegetable import price amounted to $1,094 per tonne, jumping by 3.6% against the previous year. Over the period under review, the temporarily preserved vegetable import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 when the average import price increased by 6.5% y-o-y. The global import price peaked at $1,303 per tonne in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Italy ($1,769 per tonne), while South Korea ($427 per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

fish

EU Dried and Smoked Fish Market is Driven by Rising Demand in Germany

IndexBox has just published a new report: ‘EU – Dried Or Smoked Fish – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2018, the value of the dried and smoked fish market in the European Union contracted slightly to $5.8B.

The countries with the highest volumes of dried or smoked fish consumption in 2018 were Portugal (87K tonnes), Germany (71K tonnes) and Spain (62K tonnes), with a combined 45% share of total consumption.

From 2008 to 2018, the most notable rate of growth in terms of dried or smoked fish consumption, amongst the key consuming countries, was attained by Germany, while demand from the other leaders experienced more modest paces of growth.

In value terms, France ($1.2B), the UK ($926M) and Germany ($905M) were the countries with the highest levels of the market value in 2018, with a combined 53% share.

In 2018, the highest levels of dried or smoked fish per capita consumption was registered in Portugal (8.44 kg per person), followed by Spain (1.32 kg per person), Poland (1.11 kg per person) and Italy (0.95 kg per person), while the  average per capita consumption was estimated at 1 kg per person.

Production in the EU 2008-2018

The dried or smoked fish production dropped slightly to 399K tonnes in 2018, falling by -2% compared with the previous year. Overall, dried or smoked fish production showed a decrease. The volume of dried or smoked fish production peaked at 441K tonnes in 2008; however, from 2009 to 2018, production remained at a lower figure.

Exports in the EU

In 2018, the amount of dried or smoked fish exported in the European Union amounted to 285K tonnes, standing approx. at the year before. The total export volume increased at an average annual rate of +4.7% from 2008 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2010 with an increase of 19% against the previous year. Over the period under review, dried or smoked fish exports hit record highs at 296K tonnes in 2016; however, from 2017 to 2018, exports failed to regain their momentum.

In value terms, dried or smoked fish exports declined modestly to $3.1B (IndexBox estimates) in 2018.

Exports by Country

The shipments of the five major exporters of dried or smoked fish, namely Poland, Sweden, Denmark, the Netherlands and Germany, represented more than two-thirds of total exports. Lithuania (19K tonnes) ranks next in terms of the total exports with a 6.7% share, followed by Spain (5.9%).

From 2008 to 2018, the biggest increases were in the Netherlands, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($920M) remains the largest dried or smoked fish supplier in the European Union, comprising 29% of total dried or smoked fish exports. The second position in the ranking was occupied by Germany ($396M), with a 13% share of total exports. It was followed by Denmark, with a 11% share.

Export Prices by Country

The dried or smoked fish export price in the European Union stood at $11,046 per tonne in 2018, rising by 5.1% against the previous year.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Lithuania ($16,189 per tonne), while Spain ($7,247 per tonne) was amongst the lowest.

Source: IndexBox AI Platform

africa

Africa’s Frozen Whole Fish Market – Nigeria Emerges As the Largest Market, with $488M of Imports in 2018

IndexBox has just published a new report: ‘Africa – Frozen Whole Fish – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The value of the frozen whole fish market in Africa expanded markedly to $5B in 2018, jumping by 5.8% against the previous year. Over the period under review, the market size attained its peak level in 2018 and is expected to retain its growth in the years to come.

Exports in Africa

In 2018, approx. 1.5M tonnes of frozen whole fish were exported in Africa; increasing by 4.4% against the previous year. The total export volume increased at an average annual rate of +7.3% over the period from 2013 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The pace of growth appeared the most rapid in 2017 when exports increased by 11% against the previous year.

In value terms, frozen whole fish exports went up modestly to $1.9B (IndexBox estimates) in 2018. The total export value peaked in 2018 and are likely to see steady growth in the near future.

Exports by Country

Namibia (393K tonnes), Mauritania (287K tonnes), Morocco (284K tonnes) and Senegal (209K tonnes) represented roughly 76% of total exports of frozen whole fish in 2018. Seychelles (124K tonnes) occupied an 8% share (based on tonnes) of total exports, which put it in second place, followed by Angola (4.7%). South Africa (47K tonnes) followed a long way behind the leaders.

From 2013 to 2018, the biggest increases were in Seychelles, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish supplying countries in Africa were Mauritania ($302M), Morocco ($286M) and Namibia ($278M), together comprising 46% of total exports. Seychelles, Senegal, South Africa and Angola lagged somewhat behind, together comprising a further 37%.

Export Prices by Country

The frozen whole fish export price in Africa stood at $1,219 per tonne in 2018, approximately reflecting the previous year.

Prices varied noticeably by the country of origin; the country with the highest price was South Africa ($2,742 per tonne), while Namibia ($708 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by South Africa, while the other leaders experienced mixed trends in the export price figures.

Imports in Africa

In 2018, approx. 2.7M tonnes of frozen whole fish were imported in Africa; lowering by -1.7% against 2017.

In value terms, frozen whole fish imports went down modestly to $3B (IndexBox estimates) in 2018. The total import value hit record highs at $3B in 2014; afterwards, it flattened through to 2018.

Imports by Country

The purchases of the four major importers of frozen whole fish, namely Nigeria, Cameroon, Cote d’Ivoire and Egypt, represented more than half of total import. It was distantly followed by South Africa (163K tonnes), Ghana (157K tonnes) and Mauritius (142K tonnes), together achieving a 17% share of total imports. Benin (97K tonnes), Democratic Republic of the Congo (96K tonnes) and Zambia (96K tonnes) followed a long way behind the leaders.

From 2013 to 2018, the biggest increases were in Benin, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish importing markets in Africa were Nigeria ($488M), Cameroon ($467M) and Egypt ($290M), with a combined 42% share of total imports. These countries were followed by Cote d’Ivoire, Mauritius, Ghana, South Africa, Zambia, Benin and Democratic Republic of the Congo, which together accounted for a further 39%.

Import Prices by Country

The frozen whole fish import price in Africa stood at $1,088 per tonne in 2018, surging by 4.8% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Mauritius ($1,810 per tonne), while Nigeria ($839 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Ghana, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

buttermilk

EU Buttermilk And Buttermilk Powder Market – Germany, Belgium, and France Are the Biggest Suppliers

IndexBox has just published a new report: ‘EU – Buttermilk And Buttermilk Powder – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the buttermilk and buttermilk powder market in the European Union rose remarkably to $1.8B in 2018, growing by 5% 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).

Consumption by Country in the EU

The countries with the highest volumes of buttermilk and buttermilk powder consumption in 2018 were the UK (186K tonnes), Germany (140K tonnes) and France (134K tonnes), together comprising 30% of total consumption. Ireland, Italy, Spain, the Netherlands, Poland, Belgium, Romania, Austria and Finland lagged somewhat behind, together comprising a further 50%.

From 2013 to 2018, the biggest increases were in Poland, while buttermilk and buttermilk powder consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest buttermilk and buttermilk powder markets in the European Union were the UK ($273M), Italy ($177M) and Spain ($152M), together accounting for 34% of the total market. These countries were followed by the Netherlands, Germany, Ireland, Belgium, Poland, Romania, Austria, Finland and France, which together accounted for a further 48%.

In 2018, the highest levels of buttermilk and buttermilk powder per capita consumption was registered in Ireland (25 kg per person), followed by Finland (8.44 kg per person), Belgium (6 kg per person) and the Netherlands (5.89 kg per person), while the world average per capita consumption of buttermilk and buttermilk powder was estimated at 3 kg per person.

Exports in the EU

EU’s exports shrank slightly to 898K tonnes in 2018, which is down by -1.7% compared with the previous year. Overall, buttermilk and buttermilk powder exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 3.6% y-o-y. In that year, buttermilk and buttermilk powder exports attained their peak of 931K tonnes. From 2017 to 2018, the growth of buttermilk and buttermilk powder exports failed to regain its momentum.

In value terms, buttermilk and buttermilk powder exports declined to $1.3B (IndexBox estimates) in 2018.

Exports by Country

The shipments of the three major exporters of buttermilk and buttermilk powder, namely Germany, Belgium and France, represented more than half of total export. Poland (59K tonnes) ranks next in terms of the total exports with a 6.6% share, followed by Spain (5.1%). Austria (28K tonnes), the UK (26K tonnes), the Netherlands (22K tonnes), the Czech Republic (22K tonnes), Ireland (17K tonnes) and Luxembourg (16K tonnes) followed a long way behind the leaders.

From 2013 to 2018, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Austria, while exports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($332M), France ($298M) and Belgium ($221M) were the countries with the highest levels of exports in 2018, with a combined 66% share of total exports. These countries were followed by Poland, Spain, the Netherlands, the UK, Austria, Ireland, the Czech Republic and Luxembourg, which together accounted for a further 24%.

Among the main exporting countries, Austria saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the buttermilk and buttermilk powder export price in the European Union amounted to $1,438 per tonne, going up by 5.5% against the previous year. Overall, the buttermilk and buttermilk powder export price, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2017 an increase of 6.2% against the previous year. The level of export price peaked at $1,720 per tonne in 2014; however, from 2015 to 2018, export prices failed to regain their momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the Netherlands ($1,960 per tonne), while the Czech Republic ($712 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Luxembourg, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

small businesses

U.S. Metros With the Most Small Businesses Per Capita

Small businesses across the United States face dire circumstances following the COVID-19 outbreak. While each individual small business might seem inconsequential to the broader economy, in aggregate, these firms are critical to the country’s financial well-being.

According to the most recent data from the U.S. Census Bureau, small businesses with fewer than 50 employees makeup approximately 95 percent of American business establishments and employ 40 percent of private sector workers. These 7.4 million small businesses (or 2.27 per 100 residents) also account for roughly a third of total private sector payroll.

Unfortunately, research shows that small businesses and their workers are particularly vulnerable during recessions and other periods of economic hardship. A recent survey conducted by the New York Fed found that even prior to the pandemic, 64 percent of small businesses faced financial challenges in the preceding 12 months. The same survey reported that a two-month loss of revenue would cause 86 percent of firms to take a serious financial action, such as using the owner’s personal savings, taking out a loan, or cutting staff salaries.

Moreover, small businesses in some industries have a larger economic impact than others. Among small businesses with fewer than 50 employees, those in accommodation, food services, and retail trade—coincidentally, the sectors hit hardest by COVID-19—employ the most workers. These industries, combined, account for more than 16 million employees and $362 billion in annual payroll.

Like the businesses themselves, small business employees are also more financially vulnerable than their large-firm counterparts. Data from the Bureau of Labor Statistics shows that fewer small business employees have access to retirement benefits, healthcare benefits, paid sick leave, life insurance, or disability insurance. Troublingly, only half of employees in small businesses have health insurance through their company and only two-thirds have paid sick leave.

While small businesses are a critical component of the national economy, some parts of the country depend more on small businesses than others. To find the metropolitan areas with the most small businesses, researchers at Construction Coverage, a review website for workers’ compensation insurance and construction software, analyzed the latest data from the U.S. Census Bureau. The researchers ranked each location according to the number of small businesses per 100 residents. Researchers also included statistics on the total number of small businesses, the number of retail, accommodation, and food service businesses, and the share of workers who are self-employed. For the analysis, small businesses were defined as those employing fewer than 50 workers.

To improve relevance, only metropolitan areas with at least 100,000 people were included in the analysis. Additionally, locations were grouped into the following cohorts based on population size: large metros (1,000,000 residents or more), midsize metros (350,000-999,999 residents), and small metros (less than 350,000 residents).

Here are the large metropolitan areas with the most small businesses per capita:

For more information, a detailed methodology, and complete results, you can find the original report on Construction Coverage’s website: https://constructioncoverage.com/research/cities-with-the-most-small-businesses