Asia: Fructose Market 2024

Fructose Market Size in Asia

In 2021, the Asian fructose market increased by 1.1% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, saw a mild curtailment. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Fructose Production in Asia

In value terms, fructose production totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 8.4%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Fructose Exports

Exports in Asia

For the third year in a row, Asia recorded growth in shipments abroad of fructose and fructose syrup, which increased by 1.7% to X tons in 2021. Over the period under review, exports posted strong growth. The growth pace was the most rapid in 2020 with an increase of 39%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, fructose exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.6% 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 +128.6% against 2012 indices. The pace of growth was the most pronounced in 2013 with an increase of 20% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the near future.

Exports by Country

The biggest shipments were from Thailand (X tons), China (X tons) and Turkey (X tons), together reaching 80% of total export. Malaysia (X tons) ranks next in terms of the total exports with a 5.3% share, followed by South Korea (4.6%). Indonesia (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +44.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest fructose supplying countries in Asia were China ($X), Thailand ($X) and Turkey ($X), together comprising 68% of total exports.

Among the main exporting countries, Thailand, with a CAGR of +30.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 17% against the previous year. Overall, the export price, however, recorded a perceptible curtailment. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the other leaders experienced a decline in the export price figures.

Fructose Imports

Imports in Asia

In 2021, after two years of growth, there was significant decline in purchases abroad of fructose and fructose syrup, when their volume decreased by -20.5% to X tons. Overall, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 119%. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, fructose imports contracted to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.6% against 2018 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 43% against the previous year. As a result, imports reached the peak of $X, and then fell modestly in the following year.

Imports by Country

China was the key importing country with an import of about X tons, which finished at 48% of total imports. Indonesia (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (6.4%), Malaysia (4.9%), Thailand (4.8%), Vietnam (4.8%) and South Korea (4.8%).

China was also the fastest-growing in terms of the fructose and fructose syrup imports, with a CAGR of +54.0% from 2012 to 2021. At the same time, Thailand (+13.0%), Indonesia (+9.5%) and Malaysia (+6.6%) displayed positive paces of growth. By contrast, Vietnam (-2.3%), South Korea (-3.0%) and the Philippines (-3.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +46 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported fructose and fructose syrup in Asia, comprising 31% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 12% share of total imports. It was followed by Vietnam, with a 9.2% share.

In China, fructose imports increased at an average annual rate of +30.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (+7.8% per year) and Vietnam (+4.7% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, jumping by 22% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2018 when the import price increased by 32% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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