Asia: Malt Market 2024

Malt Market Size in Asia

In 2022, after four years of growth, there was decline in the Asian malt market, when its value decreased by less than 0.1% to $X. Over the period under review, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 4.2% against the previous year. Over the period under review, the market hit record highs at $X in 2021, and then shrank in the following year.

Malt Production in Asia

In value terms, malt production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 5.6% against the previous year. As a result, production reached the peak level of $X, and then declined in the following year.

Malt Exports

Exports in Asia

Malt exports totaled X tons in 2022, with an increase of 12% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when exports increased by 21%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, malt exports surged to $X in 2022. The total export value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, recording X tons, which was approx. 90% of total exports in 2022. It was distantly followed by India (X tons), making up a 4.9% share of total exports. Kazakhstan (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, India (+12.1%) and Kazakhstan (+5.9%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +12.1% from 2012-2022. From 2012 to 2022, the share of India increased by +2.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest malt supplier in Asia, comprising 91% of total exports. The second position in the ranking was held by India ($X), with a 5.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.6%. In the other countries, the average annual rates were as follows: India (+14.3% per year) and Kazakhstan (-2.7% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, jumping by 29% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Malt Imports

Imports in Asia

In 2022, approx. X tons of malt were imported in Asia; surging by 6.8% against the previous year. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 10%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, malt imports expanded significantly to $X in 2022. Overall, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Vietnam (X tons) and Japan (X tons) were the main importers of malt in Asia, together committing 44% of total imports. South Korea (X tons) held an 8.4% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (7.7%), the Philippines (7.4%), Turkey (5.4%) and Cambodia (5.3%). The following importers - Singapore (X tons), Taiwan (Chinese) (X tons) and Myanmar (X tons) - together made up 7.7% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +22.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 49% share of total imports. The Philippines, Thailand, Turkey, Cambodia, Singapore, Taiwan (Chinese) and Myanmar lagged somewhat behind, together comprising a further 35%.

Turkey, with a CAGR of +26.7%, saw the highest rates of growth with regard to 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

In 2022, the import price in Asia amounted to $X per ton, picking up by 7.1% against the previous year. In general, the import price, however, recorded a perceptible downturn. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, 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 Turkey ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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