Asia: Glucose Market 2024

Glucose Market Size in Asia

In 2021, the Asian glucose market increased by 9.9% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a mild decline. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Glucose Production in Asia

In value terms, glucose production skyrocketed to $X in 2021 estimated in export price. In general, production continues to indicate a mild reduction. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Glucose Exports

Exports in Asia

For the seventh year in a row, Asia recorded growth in shipments abroad of glucose and glucose syrup, which increased by 3.5% to X tons in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% 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 +56.6% against 2012 indices. The growth pace was the most rapid in 2016 when exports increased by 17%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, glucose exports soared to $X in 2021. The total export value increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporter of glucose and glucose syrup in Asia, with the volume of exports resulting at X tons, which was approx. 51% of total exports in 2021. It was distantly followed by India (X tons), Turkey (X tons) and Thailand (X tons), together achieving a 37% share of total exports. The following exporters - Pakistan (X tons) and Saudi Arabia (X tons) - together made up 7.4% of total exports.

From 2012 to 2021, average annual rates of growth with regard to glucose exports from China stood at +2.8%. At the same time, Saudi Arabia (+36.6%), Turkey (+19.2%), Thailand (+7.3%), India (+4.1%) and Pakistan (+3.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +36.6% from 2012-2021. From 2012 to 2021, the share of Turkey and Saudi Arabia increased by +10 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glucose supplier in Asia, comprising 52% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Turkey, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +3.3%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+3.0% per year) and Turkey (+14.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, picking up by 25% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+7.5%), while the other leaders experienced more modest paces of growth.

Glucose Imports

Imports in Asia

In 2021, overseas purchases of glucose and glucose syrup decreased by -6.5% to X tons for the first time since 2014, thus ending a six-year rising trend. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 35% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then declined in the following year.

In value terms, glucose imports expanded notably to $X in 2021. The total import value increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Philippines (X tons) and Indonesia (X tons) represented roughly 39% of total imports in 2021. Vietnam (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (6%), Malaysia (5.7%) and Thailand (5.2%). Singapore (X tons), Bangladesh (X tons), Syrian Arab Republic (X tons), Turkey (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons) and Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +14.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, together comprising 47% of total imports. South Korea, Thailand, Malaysia, Singapore, Bangladesh, Turkey, Taiwan (Chinese), the United Arab Emirates, Syrian Arab Republic and Iraq lagged somewhat behind, together accounting for a further 36%.

Taiwan (Chinese), with a CAGR of +13.6%, saw the highest growth rate of the value of imports, in terms of 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

In 2021, the import price in Asia amounted to $X per ton, with an increase of 23% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :