Asia: Potato Starch Market 2024

Potato Starch Market Size in Asia

After two years of decline, the Asian potato starch market increased by 1.6% to $X in 2021. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Potato Starch Production in Asia

In value terms, potato starch production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 22% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Potato Starch Exports

Exports in Asia

In 2021, shipments abroad of potato starch decreased by -20.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports showed a slight shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 30%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, potato starch exports dropped remarkably to $X in 2021. Overall, exports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2019 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat 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), China (X tons), Thailand (X tons), India (X tons) and Japan (X tons) represented the largest exporters of potato starch, together achieving 81% 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 were Hong Kong SAR ($X), Malaysia ($X) and Japan ($X), with a combined 55% share of total exports. These countries were followed by China, Democratic People's Republic of Korea, India and Thailand, which together accounted for a further 24%.

Thailand, with a CAGR of +48.6%, saw the highest growth rate of 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

In 2021, the export price in Asia amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2014 an increase of 26% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

In 2021, supplies from abroad of potato starch increased by 22% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 48% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, potato starch imports reached $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 28%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons) and China (X tons) represented roughly 45% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), Thailand (X tons) and Indonesia (X tons), together constituting a 24% share of total imports. Hong Kong SAR (X tons), the Philippines (X tons), Vietnam (X tons), Japan (X tons), Turkey (X tons) and Malaysia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +10.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 55% of total imports.

China, with a CAGR of +9.6%, saw the highest rates of growth with regard to the value of imports, among 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 amounted to $X per ton, with a decrease of -10.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 16%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Hong Kong SAR ($X per ton) and Japan ($X per ton), while Indonesia ($X per ton) and Turkey ($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 more modest paces of growth.

Source: IndexBox Platform

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