Australia: Glucose Market 2024

Glucose Market Size in Australia

The Australian glucose market skyrocketed to $X in 2021, increasing by 30% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +125.3% against 2018 indices. Glucose consumption peaked in 2021 and is likely to continue growth in the near future.

Glucose Exports

Exports from Australia

Glucose exports from Australia soared to X tons in 2021, jumping by 95% against the year before. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,198% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, glucose exports rose sharply to $X in 2021. In general, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by 59%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) was the main destination for glucose exports from Australia, accounting for a 69% share of total exports. Moreover, glucose exports to Indonesia exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia totaled +127.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+10.5% per year) and Malaysia (+20.4% per year).

In value terms, Indonesia ($X) remains the key foreign market for glucose and glucose syrup exports from Australia, comprising 46% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 15% share of total exports. It was followed by Malaysia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia totaled +80.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+5.6% per year) and Malaysia (+13.8% per year).

Export Prices by Country

The average glucose export price stood at $X per ton in 2021, declining by -43.1% against the previous year. Overall, the export price continues to indicate a significant contraction. The pace of growth was the most pronounced in 2019 when the average export price increased by 618%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-4.4%), while the prices for the other major destinations experienced a decline.

Glucose Imports

Imports into Australia

In 2021, imports of glucose and glucose syrup into Australia rose sharply to X tons, surging by 12% on the previous year. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 17%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, glucose imports soared to $X in 2021. The total import value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glucose to Australia, with a 68% share of total imports. Moreover, glucose imports from China exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+8.6% per year) and the United States (-7.0% per year).

In value terms, China ($X) constituted the largest supplier of glucose and glucose syrup to Australia, comprising 57% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 17% share of total imports. It was followed by the United States, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+3.9% per year) and the United States (+0.9% per year).

Import Prices by Country

The average glucose import price stood at $X per ton in 2021, jumping by 29% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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