ASEAN: Wheat Gluten Market 2024

Wheat Gluten Market Size in ASEAN

For the third year in a row, the ASEAN wheat gluten market recorded growth in sales value, which increased by 18% to $X in 2022. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.1% against 2019 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Wheat Gluten Production in ASEAN

In value terms, wheat gluten production contracted notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 22,650% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Wheat Gluten Exports

Exports in ASEAN

Wheat gluten exports soared to X tons in 2022, increasing by 20% compared with 2021 figures. Overall, exports, however, showed a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 101%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, wheat gluten exports rose to $X in 2022. In general, exports saw a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of 145% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Singapore (X tons) and Thailand (X tons) represented the major exporters of wheat gluten in ASEAN, together reaching approx. 80% of total exports. Malaysia (X tons) ranks next in terms of the total exports with an 11% share, followed by Indonesia (7%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +18.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest wheat gluten supplier in ASEAN, comprising 60% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports. It was followed by Malaysia, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +4.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-4.8% per year) and Malaysia (+21.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, waning by -14% against the previous year. Over the period under review, the export price, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2016 when the export price increased by 59%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat 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 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.5%), while the other leaders experienced more modest paces of growth.

Wheat Gluten Imports

Imports in ASEAN

For the third consecutive year, ASEAN recorded growth in overseas purchases of wheat gluten, which increased by 6.3% to X tons in 2022. The total import volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 15% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, wheat gluten imports soared to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.1% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 30%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons) and Vietnam (X tons) represented roughly 65% of total imports in 2022. Malaysia (X tons) ranks next in terms of the total imports with a 13% share, followed by the Philippines (11%) and Indonesia (8.4%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat gluten importing markets in ASEAN were Thailand ($X), Vietnam ($X) and the Philippines ($X), with a combined 78% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +12.0%, 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 2022, the import price in ASEAN amounted to $X per ton, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2013 when the import price increased by 16% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform