Onions Price Trend

Onions Prices December 2023

The price of onions in December reached 968 USD/MT in the United States.

In Spain, the price of onions touched 678 USD/MT in December 2023.

Germany’s onion prices amounted to 1030 USD/MT in December 2023.

Onions Price Trend, Market Analysis, and News

IMARC's latest publication, “Onions Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the onions market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of onions at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed onions price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting onions pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Onions Market Analysis

The global onions market size reached 118.45 million tons in 2023. By 2032, IMARC Group expects the market to reach 158.65 million tons, at a projected CAGR of 3.30% during 2023-2032.

• Onions have many health benefits, which is one of the main factors that is driving the market expansion. They are high in vitamins, minerals, and antioxidants and are known to strengthen the immune system, reduce inflammation, and lower the risk of chronic diseases, including heart disease and cancer. According to the Centers for Disease Control and Prevention (CDC), 1,777,566 new cancer cases were reported in the United States in 2021. Also, in 2022, 608,366 persons died from the disease. This rise in cancer incidence has increased the demand for onions as a mainstay in regular meals.
• The food processing industry makes use of onions in products such as soups, sauces, snacks, and ready-to-eat (RTE) meals. The demand for convenience foods has surged in recent years due to busy lifestyles, urbanization, and increasing disposable incomes, especially in developing countries. For example, IMARC Group expects that the processed foods industry in India will reach INR 61,327.5 billion by 2032. Also, it is growing rapidly at an 8.8% growth rate. This rise in consumption of processed foods has been increasing the demand for onions due to their flavor and nutritional value.
• There have been significant advances in agricultural practices and technologies that have increased onion yields, making them more accessible and affordable. Countries such as India, China, and the United States are major onion growers that are meeting the rising domestic needs while also developing export potential. For example, India has exported more than 45,000 tons of onion since the restriction on outward shipments was lifted in May 2024. Along with this, favorable policies and increased transportation infrastructure have aided the growth of onion exports. For instance, the U.S. announced in June 2024 that it is expanding the Food Safety Certification for Specialty Crops (FSCSC) program to include medium-sized businesses in addition to small businesses, allowing eligible specialty crop growers to apply for financial assistance in obtaining or renewing a food safety certification. These measures increase the demand for onions domestically and internationally.
• A growing number of people are adopting vegetarian and vegan diets, thereby increasing demand for plant-based meals that incorporate onions. The market for plant-based food products is estimated to reach US$29.0 billion by 2032, representing an impressive 11.5% growth rate. Onions are a staple in many plant-based recipes as they add taste and nutrition to meals. Furthermore, the ongoing shift toward limiting meat consumption and exploring other protein sources has increased the use of onions in meat replacements and other vegetarian food items.

Onions News

The report covers the latest developments, updates, and trends impacting the price of onions, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the onions price trend.

Latest developments in the onions industry:

• In October 2023, McCormick & Company, Inc announced that it has developed organic onion powder as part of their range of culinary products.
• In April 2024, Progressive Produce and its division, Keystone Fruit Marketing, announced the introduction of California flat sweet onions as the newest addition to their extensive year-round sweet onion program.

Product Description

An onion refers to a widely cultivated vegetable that is known for its pungent taste and strong aroma. It is available in various types, including yellow, red, white, and sweet onions. It is rich in antioxidants, particularly quercetin, and contains vitamins C and B6, folate, potassium, and manganese. Onions find application in culinary uses, medicinal remedies, and natural dyes. They are used in soups, salads, sauces, sandwiches, and stews, as well as in chutneys, dips, relishes, and marinades.

Onions offer numerous benefits, such as boosting the immune system, reducing inflammation, promoting heart health, aiding digestion, and lowering blood sugar levels. Additionally, they support bone density, improve skin health, enhance respiratory function, provide antibacterial effects, and contribute to cancer prevention.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the onions price trend. 

Global Onions Price

The report offers a holistic view of the global onions pricing trends in the form of onions price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of onions, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed onions demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Onions Price

European onions prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for onions can also be provided for an extensive list of European countries.

North America Onions Price

The analysis of onions prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific onions historical data within the United States and Canada can also be provided.

Middle East and Africa Onions Price

The report explores the onions pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Onions Price

The onions pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This onions price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Onions Price

The analysis of onions prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of onions pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting onions price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The onions price charts ensure our clients remain at the forefront of the industry.