Asia-Pacific: Festive Articles Market 2024

Festive Articles Market Size in Asia-Pacific

The Asia-Pacific festive articles market amounted to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Festive Articles Production in Asia-Pacific

In value terms, festive articles production expanded notably to $X in 2023 estimated in export price. Overall, production showed resilient growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Festive Articles Exports

Exports in Asia-Pacific

Festive articles exports amounted to X tons in 2023, therefore, remained relatively stable against the previous year. Over the period under review, exports showed prominent growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, festive articles exports declined to $X in 2023. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then declined in the following year.

Exports by Country

The shipments of the one major exporters of festive or carnival articles, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the festive or carnival articles exports, with a CAGR of X% from 2012 to 2023. China (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest festive articles supplier in Asia-Pacific.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then fell in the following year.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2023, the rate of growth in terms of prices for China amounted to X% per year.

Festive Articles Imports

Imports in Asia-Pacific

In 2023, after two years of growth, there was significant decline in supplies from abroad of festive or carnival articles, when their volume decreased by X% to X tons. Total imports indicated a moderate expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, festive articles imports contracted to $X in 2023. Total imports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then shrank in the following year.

Imports by Country

India was the major importing country with an import of about X tons, which recorded X% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a X% share, followed by Indonesia (X%), Australia (X%), Hong Kong SAR (X%), Thailand (X%) and South Korea (X%). The following importers - Singapore (X tons), Bangladesh (X tons), Japan (X tons), New Zealand (X tons), the Philippines (X tons) and Macao SAR (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to festive articles imports into India stood at X%. At the same time, Bangladesh (X%), Macao SAR (X%), Thailand (X%), Indonesia (X%), New Zealand (X%), South Korea (X%), Malaysia (X%), Japan (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. Australia experienced a relatively flat trend pattern. By contrast, the Philippines (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. India (X p.p.), Indonesia (X p.p.), Thailand (X p.p.), Bangladesh (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total imports, while the Philippines, Australia and Hong Kong SAR saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), Australia ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Hong Kong SAR, India, Indonesia, Singapore, New Zealand, Malaysia, the Philippines, Bangladesh, Macao SAR and Thailand lagged somewhat behind, together accounting for a further X%.

Bangladesh, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, remaining relatively unchanged against the previous year. Overall, the import price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform