Asia-Pacific: Sorbitol Market 2024

Sorbitol Market Size in Asia-Pacific

In 2021, the Asia-Pacific sorbitol market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sorbitol Production in Asia-Pacific

In value terms, sorbitol production totaled $X in 2021 estimated in export price. In general, production saw a perceptible descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 8.2%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Sorbitol Exports

Exports in Asia-Pacific

After five years of growth, shipments abroad of sorbitol (excluding d-glucitol) decreased by -29.2% to X tons in 2021. Total exports indicated noticeable 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. The pace of growth appeared the most rapid in 2013 when exports increased by 31% against the previous year. The volume of export peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, sorbitol exports declined dramatically to $X in 2021. Total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 27%. Over the period under review, the exports attained the maximum at $X in 2020, and then contracted remarkably in the following year.

Exports by Country

Indonesia (X tons) and China (X tons) were the largest exporters of sorbitol (excluding d-glucitol) in 2021, resulting at near 44% and 35% of total exports, respectively. Thailand (X tons) ranks next in terms of the total exports with a 15% share, followed by India (4.9%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +57.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest sorbitol supplying countries in Asia-Pacific were Indonesia ($X), China ($X) and Thailand ($X), together accounting for 95% of total exports. These countries were followed by India, which accounted for a further 4.6%.

India, with a CAGR of +50.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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, picking up by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 18% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and China ($X per ton), while Indonesia ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.1%), while the other leaders experienced a decline in the export price figures.

Sorbitol Imports

Imports in Asia-Pacific

In 2021, approx. X tons of sorbitol (excluding d-glucitol) were imported in Asia-Pacific; growing by 4.4% against 2020 figures. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +9.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +123.3% against 2012 indices. The pace of growth was the most pronounced in 2013 with an increase of 29% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, sorbitol imports soared to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.9% 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 +16.8% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Vietnam (X tons), Thailand (X tons), Bangladesh (X tons), Pakistan (X tons), South Korea (X tons) and the Philippines (X tons) represented roughly 79% of total imports in 2021. Malaysia (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Myanmar (X tons), Sri Lanka (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +63.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sorbitol importing markets in Asia-Pacific were Vietnam ($X), Thailand ($X) and Bangladesh ($X), with a combined 50% share of total imports. These countries were followed by Pakistan, South Korea, the Philippines, Malaysia, Indonesia, Taiwan (Chinese), Myanmar, Japan and Sri Lanka, which together accounted for a further 46%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +60.7%, 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, surging by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Vietnam ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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