ASEAN: Potato Starch Market 2024

Potato Starch Market Size in ASEAN

The ASEAN potato starch market was estimated at $X in 2021, leveling off at the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Potato Starch Production in ASEAN

In value terms, potato starch production declined slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Potato Starch Exports

Exports in ASEAN

In 2021, approx. X tons of potato starch were exported in ASEAN; waning by -6.7% on 2020. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 102% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell in the following year.

In value terms, potato starch exports dropped to $X in 2021. In general, exports, however, saw prominent growth. The growth pace was the most rapid in 2014 with an increase of 102%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia represented the major exporter of potato starch in ASEAN, with the volume of exports amounting to X tons, which was near 66% of total exports in 2021. It was distantly followed by Thailand (X tons), Vietnam (X tons) and Singapore (X tons), together creating a 29% share of total exports. Indonesia (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to potato starch exports from Malaysia stood at +60.7%. At the same time, Thailand (+61.6%), Indonesia (+31.4%) and Vietnam (+18.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +61.6% from 2012-2021. By contrast, Singapore (-7.8%) illustrated a downward trend over the same period. Malaysia (+61 p.p.), Thailand (+13 p.p.) and Indonesia (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -73.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest potato starch supplier in ASEAN, comprising 57% of total exports. The second position in the ranking was taken by Singapore ($X), with an 18% share of total exports. It was followed by Thailand, with a 10% share.

In Malaysia, potato starch exports increased at an average annual rate of +44.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-7.2% per year) and Thailand (+48.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, reducing by -3.9% against the previous year. Overall, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2019 an increase of 40% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.7%), while the other leaders experienced a decline in the export price figures.

Potato Starch Imports

Imports in ASEAN

In 2021, purchases abroad of potato starch increased by 4.9% to X tons, rising for the second consecutive year after two years of decline. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 23%. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, potato starch imports shrank to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 16% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then fell in the following year.

Imports by Country

The purchases of the three major importers of potato starch, namely Thailand, Indonesia and the Philippines, represented more than two-thirds of total import. It was distantly followed by Vietnam (X tons), Malaysia (X tons) and Singapore (X tons), together making up a 26% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +7.4%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Thailand ($X), Indonesia ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2021, together accounting for 72% of total imports.

The Philippines, with a CAGR of +6.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, dropping by -9.9% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Singapore ($X per ton) and the Philippines ($X per ton), while Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform