Asia-Pacific: Fructose Market 2024

Fructose Market Size in Asia-Pacific

In 2021, the Asia-Pacific fructose market increased by 1.2% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, showed a mild curtailment. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Fructose Production in Asia-Pacific

In value terms, fructose production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, saw a mild decline. The pace of growth was the most pronounced in 2015 when the production volume increased by 9.7% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Fructose Exports

Exports in Asia-Pacific

In 2021, overseas shipments of fructose and fructose syrup decreased by -13.7% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of 42%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, fructose exports totaled $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.7% 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 +36.5% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Thailand (X tons) and China (X tons) prevails in exports structure, together making up 75% of total exports. It was distantly followed by Malaysia (X tons), South Korea (X tons) and Indonesia (X tons), together making up an 18% share of total exports. Australia (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +44.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2021, with a combined 71% share 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-Pacific stood at $X per ton in 2021, growing by 24% against the previous year. Overall, the export price, however, showed a mild curtailment. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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-Pacific

After two years of growth, supplies from abroad of fructose and fructose syrup decreased by -21.2% to X tons in 2021. Over the period under review, imports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 123%. As a result, imports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, fructose imports dropped to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.6% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 48%. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

In 2021, China (X tons) represented the major importer of fructose and fructose syrup, generating 49% of total imports. Indonesia (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (6.5%), Malaysia (4.9%), Thailand (4.9%), Vietnam (4.9%) and South Korea (4.9%).

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 +47 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported fructose and fructose syrup in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total imports. It was followed by Vietnam, with a 9.5% share.

In China, fructose imports expanded at an average annual rate of +30.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+7.8% per year) and Vietnam (+4.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, rising by 21% against the previous year. Overall, the import price, however, recorded a perceptible contraction. The growth pace was the most rapid in 2018 an increase of 34%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 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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