China: Glucose Market 2024

Glucose Market Size in China

In 2021, the Chinese glucose market increased by 12% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Glucose Production in China

In value terms, glucose production totaled less than $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern.

Glucose Exports

Exports from China

In 2021, shipments abroad of glucose and glucose syrup decreased by -17.1% to X tons, falling for the second year in a row after five years of growth. Overall, total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 40% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, glucose exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X tons), Vietnam (X tons) and South Korea (X tons) were the main destinations of glucose exports from China, with a combined 41% share of total exports. These countries were followed by Indonesia, Thailand, Singapore, Bangladesh, Malaysia, South Africa, Australia, Taiwan (Chinese), Russia and Mexico, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +35.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Vietnam ($X) and South Korea ($X) were the largest markets for glucose exported from China worldwide, with a combined 40% share of total exports. Indonesia, Thailand, Bangladesh, Singapore, Malaysia, South Africa, Australia, Taiwan (Chinese), Russia and Mexico lagged somewhat behind, together comprising a further 38%.

Mexico, with a CAGR of +34.1%, 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 glucose export price stood at $X per ton in 2021, growing by 36% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Bangladesh ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Malaysia ($X per ton) and South Africa ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Glucose Imports

Imports into China

In 2021, purchases abroad of glucose and glucose syrup decreased by -65.6% to X tons, falling for the second consecutive year after two years of growth. In general, imports recorded a deep downturn. The growth pace was the most rapid in 2016 when imports increased by 291% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, glucose imports expanded to $X in 2021. Overall, imports, however, saw a mild increase. The pace of growth appeared the most rapid in 2019 when imports increased by 83%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest glucose supplier to China, with a 58% share of total imports. Moreover, glucose imports from France exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. The third position in this ranking was held by the Netherlands (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+10.3% per year) and the Netherlands (+6.3% per year).

In value terms, France ($X), the United States ($X) and Thailand ($X) constituted the largest glucose suppliers to China, with a combined 74% share of total imports. These countries were followed by the Netherlands, Japan, South Korea and Australia, which together accounted for a further 14%.

Australia, with a CAGR of +53.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glucose import price stood at $X per ton in 2021, growing by 203% against the previous year. In general, the import price continues to indicate a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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