Eastern Asia: Non-Cane Molasses Market 2024

Non-Cane Molasses Market Size in Eastern Asia

In 2023, the East Asian non-cane molasses market decreased by X% to $X, falling for the second consecutive year after five years of growth. Overall, consumption saw a abrupt decrease. Over the period under review, the market hit record highs at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Non-Cane Molasses Production in Eastern Asia

In value terms, non-cane molasses production reduced sharply to $X in 2023 estimated in export price. In general, production recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then shrank markedly in the following year.

Non-Cane Molasses Exports

Exports in Eastern Asia

In 2023, approx. X tons of molasses (excluding cane molasses) were exported in Eastern Asia; with a decrease of X% on the year before. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, non-cane molasses exports fell to $X in 2023. Over the period under review, exports recorded a significant curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Taiwan (Chinese) (X tons) was the main exporter of molasses (excluding cane molasses), comprising X% of total exports. It was distantly followed by Japan (X tons), constituting a X% share of total exports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Taiwan (Chinese) ($X) remains the largest non-cane molasses supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

In Taiwan (Chinese), non-cane molasses exports declined by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, showed a deep downturn. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the export price figures.

Non-Cane Molasses Imports

Imports in Eastern Asia

In 2023, the amount of molasses (excluding cane molasses) imported in Eastern Asia shrank rapidly to X tons, falling by X% against the previous year's figure. Overall, imports showed a dramatic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, non-cane molasses imports dropped rapidly to $X in 2023. In general, imports showed a precipitous curtailment. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Hong Kong SAR (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together held approx. X% share of total imports. China (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to non-cane molasses imports into Taiwan (Chinese) stood at X%. At the same time, South Korea (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, China (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Korea, China and Hong Kong SAR increased by X, X and X percentage points, respectively.

In value terms, the largest non-cane molasses importing markets in Eastern Asia were South Korea ($X), Taiwan (Chinese) ($X) and Hong Kong SAR ($X), with a combined X% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price, however, recorded resilient growth. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2021 to 2023, the import prices failed to regain momentum.

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

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

Source: IndexBox Platform