Bangladesh: Fructose Market 2024

Fructose Market Size in Bangladesh

The Bangladeshi fructose market skyrocketed to $X in 2021, increasing by 28% 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). In general, consumption, however, continues to indicate a significant expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Fructose Exports

Exports from Bangladesh

In 2021, overseas shipments of fructose and fructose syrup increased by 220% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 309%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, fructose exports soared to $X in 2021. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 259%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for fructose exports from Bangladesh, accounting for a 34% share of total exports. Moreover, fructose exports to the United States exceeded the volume sent to the second major destination, Cambodia (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (0.0% per year) and Italy (+47.7% per year).

In value terms, the United States ($X) remains the key foreign market for fructose and fructose syrup exports from Bangladesh, comprising 46% of total exports. The second position in the ranking was held by Italy ($X), with a 13% share of total exports. It was followed by the UK, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+47.0% per year) and the UK (+9.0% per year).

Export Prices by Country

In 2021, the average fructose export price amounted to $X per ton, reducing by -10.6% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose export price increased by +3.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Singapore ($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 Malaysia (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fructose Imports

Imports into Bangladesh

In 2021, purchases abroad of fructose and fructose syrup decreased by -1.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, saw strong growth. The pace of growth was the most pronounced in 2014 with an increase of 96%. Over the period under review, imports reached the maximum at X tons in 2020, and then dropped modestly in the following year.

In value terms, fructose imports skyrocketed to $X in 2021. In general, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 213%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Austria (X tons), Italy (X tons) and China (X tons) were the main suppliers of fructose imports to Bangladesh, with a combined 47% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +111.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fructose suppliers to Bangladesh were Austria ($X), Italy ($X) and China ($X), together accounting for 47% of total imports.

In terms of the main suppliers, Austria, with a CAGR of +117.1%, saw the highest rates of growth with regard to 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 average fructose import price stood at $X per ton in 2021, with an increase of 50% against the previous year. Overall, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2014 an increase of 60%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual 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 Japan ($X per ton), while the price for the United States ($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 (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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