Asia-Pacific: Potato Starch Market 2024

Potato Starch Market Size in Asia-Pacific

The Asia-Pacific potato starch market was estimated at $X in 2021, picking up by 1.8% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Potato Starch Production in Asia-Pacific

In value terms, potato starch production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 23%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Potato Starch Exports

Exports in Asia-Pacific

In 2021, after two years of growth, there was significant decline in shipments abroad of potato starch, when their volume decreased by -23.7% to X tons. Over the period under review, exports showed a pronounced decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, potato starch exports shrank remarkably to $X in 2021. In general, exports recorded a perceptible setback. The growth pace was the most rapid in 2019 with an increase of 36%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Malaysia (X tons), distantly followed by Hong Kong SAR (X tons), Democratic People's Republic of Korea (X tons), New Zealand (X tons), China (X tons) and Thailand (X tons) were the main exporters of potato starch, together making up 79% of total exports. India (X tons), Japan (X tons), Vietnam (X tons), Singapore (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +61.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch supplying countries in Asia-Pacific were Hong Kong SAR ($X), Malaysia ($X) and Japan ($X), together comprising 51% of total exports. These countries were followed by New Zealand, China, Democratic People's Republic of Korea, Singapore, India, South Korea, Taiwan (Chinese), Thailand and Vietnam, which together accounted for a further 45%.

Among the main exporting countries, Thailand, with a CAGR of +48.6%, 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, increasing by 3.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 15% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 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 Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+3.1%), while the other leaders experienced more modest paces of growth.

Potato Starch Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of potato starch increased by 26% to X tons, rising for the second year in a row after two years of decline. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +47.1% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 51% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, potato starch imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by 29%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons) and China (X tons) represented roughly 48% of total imports in 2021. Taiwan (Chinese) (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (6.7%), Indonesia (6%), Hong Kong SAR (4.8%) and the Philippines (4.6%).

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +10.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch importing markets in Asia-Pacific were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 58% share of total imports.

Among the main importing countries, China, with a CAGR of +9.6%, saw 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 2021, the import price in Asia-Pacific amounted to $X per ton, shrinking by -10.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Hong Kong SAR ($X per ton) and the Philippines ($X per ton), while Indonesia ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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