Global orange consumption on the rise
IndexBox - Oct 31st 2018, 10:31
According to the report “World - Oranges - Market Analysis, Forecast, Size, Trends and Insights”, recently published by IndexBox, the global orange consumption reached 75M tonnes in 2017, going up by 2% against the previous year.
The total consumption volume had been increasing at an average annual rate of +1.2% from 2007 to 2017; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2008 when the consumption increased by 5% y-o-y. Over the period under review, the global orange consumption attained its peak figure volume in 2017 and is likely to see steady growth in the immediate term.
The global orange market revenue amounted to $55B (IndexBox estimates) in 2017, surging by 12% against the previous year. This figure reflects total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price).
China Drives the Global Demand
The countries with the highest volumes of orange consumption in 2017 were Brazil (17M tonnes), China (9.5M tonnes), and India (8M tonnes), together comprising 46% of global consumption.
From 2007 to 2017, the most notable growth rate of orange consumption, among the main consuming countries, was attained by China (+10.6% per year), while the other global leaders experienced more modest paces of growth. In value terms, China ($18B) led the globe, alone. The second position in the ranking was occupied by Brazil ($8B). It was followed by the U.S.
Driven by increasing demand for orange from Asian countries, the market is expected to continue an upward consumption trend over the next eight years. The performance of the market is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.9% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to 81M tonnes by the end of 2025.
Brazil Continues to Dominate World Production, Although China Is Quickly Catching Up
The countries with the highest volumes of orange production in 2017 were Brazil (17M tonnes), China (9.3M tonnes), and India (8M tonnes), together accounting for 46% of global production.
From 2007 to 2017, the most notable growth rate of orange production, among the main producing countries, was attained by China (+10.3% per year), while the other global leaders experienced more modest paces of growth.
The general positive trend of orange output was largely conditioned by a slight expansion of the harvested area and a mild growth in yield figures.
In 2017, the global harvested area of oranges amounted to 4M ha, levelling off at the previous year. In general, orange harvested area continues to indicate a relatively flat trend pattern. The yield figure had been increasing at an average annual rate of +1.2% over the period from 2007 to 2017; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. In 2017, it reached 19 tonnes per ha, going up by 2% against the previous year.
Full report: IndexBox Report
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