China: Modified Starches Market 2024

Modified Starches Market Size in China

The Chinese modified starches market reached $X in 2022, picking up by 4.2% against the previous year. In general, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Modified Starches Production in China

In value terms, modified starches production reached $X in 2022 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 33%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Modified Starches Exports

Exports from China

In 2022, shipments abroad of dextrins and other modified starches increased by 42% to X tons, rising for the second consecutive year after two years of decline. Overall, total exports indicated a mild expansion from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.4% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, modified starches exports surged to $X in 2022. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 47%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Russia (X tons) was the main destination for modified starches exports from China, with a 27% share of total exports. Moreover, modified starches exports to Russia exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The Philippines (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +43.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+16.1% per year) and the Philippines (+53.0% per year).

In value terms, Russia ($X) emerged as the key foreign market for dextrins and other modified starches exports from China, comprising 39% of total exports. The second position in the ranking was held by Indonesia ($X), with an 8.3% share of total exports. It was followed by the United States, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +49.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+21.6% per year) and the United States (+26.5% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, dropping by -9.6% against the previous year. In general, the export price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 51% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Philippines ($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 South Korea (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into China

In 2022, supplies from abroad of dextrins and other modified starches decreased by -0.9% to X tons for the first time since 2017, thus ending a four-year rising trend. Overall, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.0% against 2017 indices. The pace of growth was the most pronounced in 2018 with an increase of 30%. Imports peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, modified starches imports totaled $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +108.0% against 2012 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 24% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Thailand (X tons), Vietnam (X tons) and the United States (X tons) were the main suppliers of modified starches imports to China, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +31.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constituted the largest supplier of dextrins and other modified starches to China, comprising 42% of total imports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Thailand stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+31.0% per year) and the United States (+6.4% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, with an increase of 7.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

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 the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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