Asia: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Asia

In 2021, the Asian market for protein concentrates and flavoured or coloured sugar syrups was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Asia

In value terms, production of protein concentrates and flavoured or coloured sugar syrups amounted to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 37%. As a result, production reached the peak level of $X. From 2019 to 2021, production of growth failed to regain momentum.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports in Asia

Exports of protein concentrates and flavoured or coloured sugar syrups declined modestly to X tons in 2021, waning by -1.6% against the previous year. Total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +51.9% against 2015 indices. The growth pace was the most rapid in 2020 when exports increased by 29%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups expanded remarkably to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +96.4% against 2016 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 33%. Over the period under review, the exports of reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

China was the largest exporter of protein concentrates and flavoured or coloured sugar syrups in Asia, with the volume of exports recording X tons, which was near 78% of total exports in 2021. It was distantly followed by India (X tons), constituting an 11% share of total exports. South Korea (X tons) and Singapore (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to protein concentrate and flavoured or coloured sugar syrup exports from China stood at +5.3%. At the same time, Singapore (+10.0%), India (+7.3%) and South Korea (+4.5%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.0% from 2012-2021. China (+4.3 p.p.) and India (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest protein concentrate and flavoured or coloured sugar syrup supplier in Asia, comprising 75% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.7% share of total exports. It was followed by India, with a 6.5% share.

In China, exports of protein concentrates and flavoured or coloured sugar syrups increased at an average annual rate of +10.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+24.6% per year) and India (+9.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, picking up by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2013 when the export price increased by 14%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

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 Singapore ($X per ton), while India ($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 (+13.3%), while the other leaders experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports in Asia

In 2021, approx. X tons of protein concentrates and flavoured or coloured sugar syrups were imported in Asia; with an increase of 13% compared with 2020 figures. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups skyrocketed to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of protein concentrates and flavoured or coloured sugar syrups in 2021 were the Philippines (X tons), South Korea (X tons) and Indonesia (X tons), together reaching 50% of total import. Malaysia (X tons) held a 6% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (5.8%), Vietnam (5.3%) and Japan (5%). Saudi Arabia (X tons), Taiwan (Chinese) (X tons), India (X tons), Singapore (X tons), Thailand (X tons) and Jordan (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +9.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the United Arab Emirates ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2021, with a combined 29% share of total imports. These countries were followed by the Philippines, Malaysia, Vietnam, India, Japan, Saudi Arabia, Taiwan (Chinese), Singapore, Thailand and Jordan, which together accounted for a further 54%.

Jordan, with a CAGR of +13.1%, 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

The import price in Asia stood at $X per ton in 2021, surging by 9.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while the Philippines ($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 (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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