Asia: Saccharin Market 2024

Saccharin Market Size in Asia

In 2021, the Asian saccharin market was finally on the rise to reach $X after two years of decline. In general, consumption recorded a mild contraction. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Saccharin Production in Asia

In value terms, saccharin production totaled $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 15%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Saccharin Exports

Exports in Asia

In 2021, saccharin exports in Asia was estimated at X tons, increasing by 6% on 2020 figures. 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 in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 26%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, saccharin exports rose to $X in 2021. The total export value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 38%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China represented the major exporter of saccharin and its salts in Asia, with the volume of exports reaching X tons, which was approx. 79% of total exports in 2021. It was distantly followed by South Korea (X tons) and Thailand (X tons), together constituting a 16% share of total exports. India (X tons) followed a long way behind the leaders.

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, with a CAGR of +141.4% from 2012-2021. While the share of Thailand (+5.4 p.p.) and South Korea (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-6.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, saccharin exports expanded at an average annual rate of +3.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+3.4% per year) and India (+7.1% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with a decrease of -2.3% against the previous year. Export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.0% 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 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 failed to regain momentum.

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 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

In 2021, purchases abroad of saccharin and its salts increased by 14% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.7% 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 2017 with an increase of 29% 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.

In value terms, saccharin imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 26%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons), distantly followed by Turkey (X tons), South Korea (X tons), Pakistan (X tons), India (X tons), Japan (X tons), Indonesia (X tons), Bangladesh (X tons) and Vietnam (X tons) were the major importers of saccharin and its salts, together committing 85% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +24.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), India ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 39% of total imports. Japan, Pakistan, Indonesia, Bangladesh and Vietnam lagged somewhat behind, together accounting for a further 43%.

In terms of the main importing countries, Bangladesh, with a CAGR of +23.3%, 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

The import price in Asia stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 17%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the 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 India ($X per ton) and Vietnam ($X per ton), while Pakistan ($X per ton) and South Korea ($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 (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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