China is the world's largest producer and consumer of chili peppers, as well as one of the countries with the largest export of chili peppers in the world, dominating the international chili industry. With the development of global economic integration and the acceleration of economic globalization, the spicy region and population continue to expand, the intensive processing of chili peppers has developed rapidly, the market demand has shown a strong growth momentum, and the industrial development prospects are broad.
1.Import and export trade analysis
1.1.Trade Status and Trends
2023 is the largest year for China's pepper import and export trade in recent years, with a total import and export trade of 642,400 tons and a total import and export trade of US$1.524 billion, of which the import volume is 174,900 tons and the import value is US$420 million, and the export volume is 467,500 tons and the export value is US$1.104 billion - the net export volume is 292,600 tons and the trade surplus is US$684 million.
Compared with 2018, China's total import and export trade of peppers increased by 143,900 tons, an increase of 28.87%, with an average annual compound growth rate of about 5.2%; The total import and export trade increased by 720 million US dollars, an increase of about 89.55%, and the average annual compound growth rate was about 13.65%.
1.2. Major trade commodities
In 2023, among the imported commodities related to chili, the import scale of "unground dried chili peppers" is the largest, with an import volume of 143,500 tons and an import value of 395 million US dollars, accounting for 82.05% and 94.02% of the national chili import volume and import value, respectively.
In terms of exports, in 2023, among the chili-related commodities exported by China, the export volume and export value of "ground chili peppers" are relatively large, with 227,600 tons and 672 million US dollars, respectively, accounting for 48.68% and 60.84% of the national chili export volume and export value, respectively.
2.Market consumption analysis
2.1. Market size
As of 2022, the market size of China's pepper industry will be 388.589 billion yuan, a year-on-year increase of 8.36%.
2.2. Key market segments
Fresh chili peppers
With the spread of spicy culture, the market size of China's fresh edible chili industry continues to expand, reaching 198.569 billion yuan in 2022. Compared to 2018, the compound annual growth rate is 7.7%.
Pepper processing
The market size of the pepper processing industry has gradually expanded, reaching 177.197 billion yuan in 2022, with an average annual compound growth rate of 9.75% compared with 2018.
2.3. Major consumer products
2.3.1. Chili paste
The market size of China's chili sauce industry has increased from 34.1 billion yuan in 2018 to 48.2 billion yuan in 2023, with an increase of 14.1 billion
2.3.2. Hot pot base
Since 2018, the scale of China's hot pot base market has increased year by year, from 19.1 billion yuan to 32.7 billion yuan in 2022, an increase of 13.6 billion yuan, an increase of about 71.2%, and an average annual compound growth rate of 11.35%.
According to the cyclical factors, seasonal factors, long-term trend factors and market random factors of chili peppers, the price trend of chili peppers in the year has obvious seasonal characteristics. Generally, the price rises from winter to spring of the following year, and it is easier to form a high point of the year. From the beginning of each year to April, the price is often in the rising stage, and then it enters a slow slide, and there will be a small rebound in June ~ July, probably to August or early September, and then enter the decline stage, until around November and begin to rebound again.
