Asia-Pacific: Saccharin Market 2024

Saccharin Market Size in Asia-Pacific

The Asia-Pacific saccharin market dropped modestly to $X in 2021, shrinking by -1.6% against the previous year. Overall, consumption recorded a pronounced downturn. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Saccharin Production in Asia-Pacific

In value terms, saccharin production totaled $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 16% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Saccharin Exports

Exports in Asia-Pacific

In 2021, the amount of saccharin and its salts exported in Asia-Pacific rose remarkably to X tons, picking up by 6% against the previous year's figure. The total export volume increased at an average annual rate of +1.4% from 2012 to 2021; 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 exports increased by 26% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, saccharin exports stood at $X in 2021. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 38%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) was the main exporter of saccharin and its salts, constituting 79% of total exports. South Korea (X tons) took the second position in the ranking, followed by Thailand (X tons). All these countries together held approx. 16% share of total exports. India (X tons) held a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of saccharin and its salts. At the same time, Thailand (+141.4%), India (+6.9%) and South Korea (+3.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +141.4% from 2012-2021. Thailand (+5.4 p.p.) and South Korea (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -6.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest saccharin supplier in Asia-Pacific, comprising 77% of total exports. The second position in the ranking was held by South Korea ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +3.7%. In the other countries, the average annual rates were as follows: South Korea (+3.4% per year) and India (+7.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, dropping by -2.2% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the export price increased by 36% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the other leaders experienced more modest paces of growth.

Saccharin Imports

Imports in Asia-Pacific

In 2021, overseas purchases of saccharin and its salts were finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 27%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, saccharin imports reached $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 27% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons), distantly followed by South Korea (X tons), Pakistan (X tons), India (X tons), Japan (X tons), Indonesia (X tons), Bangladesh (X tons), Vietnam (X tons) and Myanmar (X tons) were the main importers of saccharin and its salts, together committing 90% of total imports.

Imports into Thailand increased at an average annual rate of +11.0% from 2012 to 2021. At the same time, Bangladesh (+24.7%), Myanmar (+24.7%), Vietnam (+8.0%), Pakistan (+7.8%) and Japan (+1.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +24.7% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, South Korea (-5.5%) and India (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, Bangladesh, Pakistan, Myanmar and Vietnam increased by +13, +5.5, +4.3, +3.9 and +2.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest saccharin importing markets in Asia-Pacific were India ($X), South Korea ($X) and Japan ($X), together accounting for 41% of total imports. Pakistan, Indonesia, Bangladesh, Vietnam and Myanmar lagged somewhat behind, together comprising a further 40%.

In terms of the main importing countries, Bangladesh, with a CAGR of +23.3%, recorded the highest rates of growth with regard to 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, reducing by -2.3% against the previous year. Over the period under review, the import price recorded a mild contraction. The growth pace was the most rapid in 2014 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 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 India ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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