Brazil: Modified Starches Market 2024

Modified Starches Market Size in Brazil

The Brazilian modified starches market fell to $X in 2022, waning by -7% against the previous year. Over the period under review, consumption showed a perceptible decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Modified Starches Production in Brazil

In value terms, modified starches production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 29% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from Brazil

For the fourth year in a row, Brazil recorded growth in overseas shipments of dextrins and other modified starches, which increased by 28% to X tons in 2022. Overall, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 58%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, modified starches exports soared to $X in 2022. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Paraguay (X tons), Argentina (X tons) and the United States (X tons) were the main destinations of modified starches exports from Brazil, together accounting for 60% of total exports. South Africa, Chile, Colombia, Japan, Australia, the UK, Uruguay and Germany lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +60.2%), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), the United States ($X) and Paraguay ($X) were the largest markets for modified starches exported from Brazil worldwide, together accounting for 57% of total exports. South Africa, Chile, Colombia, Japan, Australia, the UK, Germany and Uruguay lagged somewhat behind, together comprising a further 30%.

Australia, with a CAGR of +59.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, growing by 37% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, 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 ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Brazil

In 2022, approx. X tons of dextrins and other modified starches were imported into Brazil; surging by 12% compared with the year before. Over the period under review, imports, however, continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2017 when imports increased by 59% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, modified starches imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 30%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, the United States (X tons) constituted the largest modified starches supplier to Brazil, accounting for a 59% share of total imports. Moreover, modified starches imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Denmark (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-1.9% per year) and Denmark (+15.9% per year).

In value terms, the United States ($X) constituted the largest supplier of dextrins and other modified starches to Brazil, comprising 53% of total imports. The second position in the ranking was taken by India ($X), with a 9.2% share of total imports. It was followed by the Netherlands, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+30.4% per year) and the Netherlands (+1.0% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, picking up by 15% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, modified starches import price increased by +63.2% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 21%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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