Overview Agri & Foods Global Supply Market:

August 2024 witnessed significant growth across all product categories, with Herbs, Spices & Seasonings and Grains & Cereals standing out with an impressive 10% increase compared to July. The widespread interest from various countries has opened up substantial potential for expanding export markets, especially in developing countries and major economies.

Market Trend by Product Category:

1. Herbs, Spices & Seasonings:

Growth: Accounts for 10% of product categories, and growth 32% compared to July (source Freshdi.com)

Key Markets: India, Bangladesh, USA, United Arab Emirates.

Notable Products: Chili peppers, black pepper, sugar.

Market Trend:

• Global Market: The global spice market is experiencing robust growth, particularly in developing countries like India and Bangladesh, where demand for spices from both the food processing industry and individual consumers is rising. The United Arab Emirates also reports increasing demand for specialty spices, reflecting a trend toward high-quality food consumption.
• Asia Market: India continues to lead in the importation of spices like black pepper, dried chilies, and cinnamon, serving both domestic demand and export needs. Bangladesh and Pakistan have also seen increased spice demand, especially during traditional festive seasons.
• USA and Europe Market: Countries like the USA, UK, and Germany focus on importing organic and high-quality spices, aligning with the growing trend of healthy and sustainable food consumption.

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2. Grains & Cereals:

Growth: Accounts for 10% of product categories, and growth 35% compared to July (source Freshdi.com)

Key Markets: India, Australia, France, Israel.

Notable Products: Soybeans, corn, wheat.

Market Trend:

• Global Market: The grains and cereals market is expanding rapidly, particularly in developing countries and major economies like China, India, and the EU. The strong demand for soybeans and wheat caters not only to direct consumption but also to the food processing and animal feed industries.
• Asia Market: India, China, and Japan are major importers of grains, ensuring a stable food supply for domestic markets and the livestock industry.
• Europe and North America Market: The demand for grains in Europe and North America primarily comes from the food processing industry, with a strong preference for wheat-based products like flour, along with increasing consumption of seeds like quinoa and chia.

See more Grains, Cereal & Legumes Buyers, Sourcing Requests

3. Oil & Fats:

Growth: Accounts for 8% of product categories, and growth 25% compared to July (source Freshdi.com)

Key Markets: Indonesia, Qatar, Pakistan, South Korea, United Arab Emirates.

Notable Products: Edible oils (accounting for 70%), Palm Oil, Coconut Oil.

Market Trend:

• Global Market: The demand for edible oils and other vegetable oils like palm oil and coconut oil continues to grow, particularly in Asian and Middle Eastern markets. The shift toward diverse vegetable oils to meet culinary and consumption needs is becoming increasingly evident.
• Asia Market: Indonesia and Malaysia remain the world's largest suppliers of palm oil, with strong import demand from countries like China, India, and Pakistan. Coconut oil, primarily imported from the Philippines and Sri Lanka, is also widely used in the food and cosmetics industries.
• Middle East Market: Countries like Saudi Arabia, UAE, and Qatar are ramping up imports of edible oils to meet domestic demand and support their food processing industries.

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4. Fruit:

Growth: Accounts for 7% of product categories, and growth 74% compared to July (source Freshdi.com)

Key Markets & Notable Products:

• Qatar: Grapes, apples, carrots, lemons.
• Bangladesh: Pomegranates, coconuts.
• Saudi Arabia: Fresh strawberries, bananas, pineapples, dragon fruit.
• Turkey: Bananas.
• India: Coconuts, mangoes.
• USA: Avocados.

Market Trend:

• Global Market: The global fruit import market continues to grow, driven by the increasing demand for nutritious and health-promoting products. Both developing countries and major economies are showing strong demand for tropical and subtropical fruits.
• Europe and North America Market: Imported fruits like avocados, pineapples, and strawberries are highly popular in European and American markets. Consumers in these regions are increasingly focused on nutrition and health, driving demand for fresh, nutrient-rich fruits.
• Middle East and South Asia Market: Countries like India, Bangladesh, and Saudi Arabia have high import demand for fruits such as coconuts, mangoes, and berries, catering to local consumer preferences and festive occasions.

See more Fruits Buyers, Sourcing Requests

5. Bean, Nut & Seed:

Growth: Accounts for 7% of product categories, and increased 2.5 times compared to July (source Freshdi.com)

Key Markets & Notable Products:

• India: Cashews, dried soybeans, areca nuts.
• Turkey: Cotton Seeds, cocoa beans.
• Canada: Castor seeds, black beans, cocoa beans.
• United Arab Emirates: Macadamia nuts, pistachios, dry onions, areca nuts.

Market Trend:

• Global Market: The market for beans, nuts, and seeds is experiencing strong growth, with major importers primarily located in Asia, the Middle East, and Europe. This growth is driven by both direct consumption and the expansion of the food processing industry.
• Asia Market: India is one of the largest importers of cashews and soybeans, catering to both food and industrial needs. Countries like Turkey and the UAE are also witnessing increased imports of specialty nuts such as macadamia and pistachios.
• Europe Market: The demand for organic beans and nuts is rising in Europe, particularly in markets like Germany and the Netherlands, where consumers prioritize natural and nutrient-rich products.

See more Bean, Nut & Seed Buyers, Sourcing Requests

Conclusion:

August 2024 marks a positive growth in global import demand across various agri-food sectors. The diversity in markets and products continues to open up numerous opportunities for businesses. However, close monitoring of consumer trends is crucial to effectively adapt business strategies.

Key Highlights and Potential:

• Strong growth in key sectors: The remarkable growth in sectors like Spices, Grains, and Fruits indicates significant potential for expanding export markets, particularly in developing countries and major economies.
• Market diversification: The increasing interest from various countries facilitates the diversification of export markets, reducing reliance on specific markets.
• Healthy consumption trends: The preference for natural, organic, and nutrient-rich products in developed markets like the US and Europe presents opportunities for producers meeting these standards.
• Growth in emerging markets: Emerging markets such as India, Bangladesh, and Middle Eastern countries are witnessing rising import demand, especially for products like spices, fruits, and grains, offering substantial opportunities for exporters.

Challenges and Considerations:

• Market volatility: The agri-food market can be volatile due to factors like weather, diseases, and trade policies. Businesses need to be prepared to navigate these fluctuations.
• Intense competition: The increasing demand also attracts competition from various suppliers. Businesses need to continuously innovate and improve product quality to maintain a competitive edge.
• Quality and safety requirements: Consumers are increasingly concerned about food quality and safety. Businesses must ensure compliance with regulations and quality standards to build trust and credibility with customers.

August 2024 paints a positive picture of the global agri-food import market. Despite specific challenges, growth opportunities remain abundant, especially for businesses capable of adapting, innovating, and meeting the evolving demands of consumers worldwide. By capitalizing on market trends and seizing opportunities, businesses can achieve sustainable success in the global agri-food sector.

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Information center for suppliers

Freshdi.com's guide provides detailed information about the agricultural and food industry. It covers various topics, from the import and export market and popular agricultural & food varieties to price trends, finding exporters and importers, and necessary considerations when exporting agricultural & food worldwide. To better understand Freshdi and how to make the most of the platform to access buyers, explore the following helpful articles:

Chapter 1 - First Step to Start Selling Agri & Food Global: Posting Product Tips to Maximum

Chapter 2 - 7 simple steps to start selling every day: Guide to help you expand your agricultural market.

Chapter 3 - Exclusive Benefits for Suppliers When Creating Online Store on Freshdi.

Chapter 4 - Contact us for a free consultation: If you have any questions, please let us know.

Stay tuned to Freshdi.com for more updates and insights into the world of imports & exports, whether you’re a business looking to source high-quality agricultural & food or an individual interested in the dynamics of the global market. Freshdi.com is your go-to resource for all things related to agricultural & food suppliers, wholesalers, importers, and export companies. We will provide you with the latest information and trends in the agricultural & food industry, helping you expand your business. Thank you for reading!