ASEAN: Tapioca And Substitutes Market 2024

Tapioca And Substitutes Market Size in ASEAN

The ASEAN tapioca and substitutes market reached $X in 2021, picking up by 1.9% against the previous year. The total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Tapioca And Substitutes Production in ASEAN

In value terms, tapioca and substitutes production dropped sharply to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 42%. As a result, production attained the peak level of $X, and then declined remarkably in the following year.

Tapioca And Substitutes Exports

Exports in ASEAN

In 2021, the amount of tapioca and substitutes exported in ASEAN rose slightly to X tons, surging by 4.2% on the year before. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 32%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, tapioca and substitutes exports expanded modestly to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Thailand was the largest exporter of tapioca and substitutes in ASEAN, with the volume of exports reaching X tons, which was approx. 79% of total exports in 2021. It was distantly followed by Indonesia (X tons), comprising a 17% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to tapioca and substitutes exports from Thailand stood at +5.8%. At the same time, Indonesia (+6.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +6.9% from 2012-2021. Thailand (+7.9 p.p.) and Indonesia (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest tapioca and substitutes supplier in ASEAN, comprising 77% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled +7.1%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 27% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.8%).

Tapioca And Substitutes Imports

Imports in ASEAN

Tapioca and substitutes imports rose markedly to X tons in 2021, surging by 13% on 2020 figures. Overall, imports continue to indicate a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 86%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, tapioca and substitutes imports expanded markedly to $X in 2021. Over the period under review, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 91%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Malaysia represented the major importing country with an import of about X tons, which recorded 41% of total imports. Myanmar (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (18%), Singapore (7.3%) and Vietnam (6.3%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +76.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constitutes the largest market for imported tapioca and substitutes in ASEAN, comprising 40% of total imports. The second position in the ranking was held by the Philippines ($X), with a 16% share of total imports. It was followed by Singapore, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia stood at +22.1%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+2.0% per year) and Singapore (+3.1% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, shrinking by -3.5% against the previous year. Import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tapioca and substitutes import price increased by +41.5% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 54%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform