Asia-Pacific: Wheat Starch Market 2024

Wheat Starch Market Size in Asia-Pacific

After six years of growth, the Asia-Pacific wheat starch market decreased by -5.1% to $X in 2021. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +61.0% against 2014 indices. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Wheat Starch Production in Asia-Pacific

In value terms, wheat starch production dropped to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +61.5% against 2014 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Wheat Starch Exports

Exports in Asia-Pacific

In 2021, shipments abroad of wheat starch decreased by -8% to X tons, falling for the third year in a row after four years of growth. Overall, exports, however, posted perceptible growth. The pace of growth was the most pronounced in 2017 when exports increased by 73% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, wheat starch exports rose modestly to $X in 2021. In general, exports, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2018 when exports increased by 66% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Australia (X tons) was the largest exporter of wheat starch, generating 78% of total exports. It was distantly followed by Singapore (X tons), creating a 16% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and China (X tons) - each accounted for a 3.2% share of total exports.

Australia was also the fastest-growing in terms of the wheat starch exports, with a CAGR of +9.3% from 2012 to 2021. At the same time, Taiwan (Chinese) (+2.3%) displayed positive paces of growth. By contrast, Singapore (-2.4%) and China (-10.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Australia increased by +24 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest wheat starch supplier in Asia-Pacific, comprising 75% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by China, with a 2.3% share.

In Australia, wheat starch exports increased at an average annual rate of +5.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-0.5% per year) and China (-9.4% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 10% against the previous year. Overall, the export price, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 15%. 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.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.9%), while the other leaders experienced mixed trends in the export price figures.

Wheat Starch Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of wheat starch was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, wheat starch imports rose notably to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.5% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 71%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), Thailand (X tons), China (X tons) and Malaysia (X tons) represented the largest importer of wheat starch in Asia-Pacific, making up 79% of total import. Hong Kong SAR (X tons) ranks next in terms of the total imports with a 4.9% share, followed by the Philippines (4.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +74.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wheat starch importing markets in Asia-Pacific were Singapore ($X), South Korea ($X) and Indonesia ($X), with a combined 38% share of total imports.

South Korea, with a CAGR of +65.6%, recorded the highest growth rate of the value of imports, in terms of 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 2021, the import price in Asia-Pacific amounted to $X per ton, picking up by 4.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 11%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, 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 ($X per ton) and Thailand ($X per ton), while Indonesia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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