Asia: Modified Starches Market 2024

Modified Starches Market Size in Asia

For the third consecutive year, the Asian modified starches market recorded growth in sales value, which increased by X% to $X in 2023. The total consumption indicated a measured 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, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Modified Starches Production in Asia

In value terms, modified starches production dropped modestly to $X in 2023 estimated in export price. The total production indicated a perceptible 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Modified Starches Exports

Exports in Asia

In 2023, overseas shipments of dextrins and other modified starches decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, modified starches exports contracted modestly to $X in 2023. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

Thailand was the main exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Vietnam (X tons), China (X tons), India (X tons) and Turkey (X tons), together mixing up a X% share of total exports.

Exports from Thailand decreased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%), Vietnam (X%) and India (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, China (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), India (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest modified starches supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

In Thailand, modified starches exports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: China (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Modified Starches Imports

Imports in Asia

In 2023, the amount of dextrins and other modified starches imported in Asia declined to X tons, with a decrease of X% on the year before. Over the period under review, imports recorded a mild reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, modified starches imports reached $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2019; afterwards, it flattened through to 2023.

Imports by Country

In 2023, Japan (X tons), distantly followed by China (X tons), Indonesia (X tons), the Philippines (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) represented the major importers of dextrins and other modified starches, together achieving X% of total imports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. The Philippines, South Korea, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, picking up by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Malaysia ($X per ton) and China ($X per ton), while Indonesia ($X per ton) and South Korea ($X per ton) were 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