China: Sorbitol Market 2024

Sorbitol Market Size in China

In 2021, after five years of decline, there was significant growth in the Chinese sorbitol market, when its value increased by 1,122% to $X. Over the period under review, consumption, however, recorded a mild decline. Sorbitol consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Sorbitol Production in China

In value terms, sorbitol production amounted to $X in 2021 estimated in export price. In general, production showed a slight decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 16%. Sorbitol production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Sorbitol Exports

Exports from China

In 2021, overseas shipments of sorbitol (excluding d-glucitol) decreased by -55.5% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 59%. The exports peaked at X tons in 2020, and then shrank notably in the following year.

In value terms, sorbitol exports dropped sharply to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 52%. The exports peaked at $X in 2020, and then fell markedly in the following year.

Exports by Country

Thailand (X tons), Vietnam (X tons) and the Philippines (X tons) were the main destinations of sorbitol exports from China, with a combined 41% share of total exports. These countries were followed by South Korea, Taiwan (Chinese), South Africa, New Zealand, Myanmar, Nigeria, Malaysia, Indonesia, Pakistan and Cuba, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +63.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sorbitol exported from China were Thailand ($X), the Philippines ($X) and Vietnam ($X), together accounting for 40% of total exports. South Korea, Taiwan (Chinese), New Zealand, Myanmar, Cuba, South Africa, Malaysia, Indonesia, Nigeria and Pakistan lagged somewhat behind, together comprising a further 41%.

Myanmar, with a CAGR of +61.3%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average sorbitol export price amounted to $X per ton, jumping by 21% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cuba ($X per ton), while the average price for exports to Nigeria ($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 Cuba (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Sorbitol Imports

Imports into China

In 2021, the amount of sorbitol (excluding d-glucitol) imported into China dropped markedly to X tons, with a decrease of -85.2% compared with 2020. Overall, imports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 678%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, sorbitol imports shrank rapidly to $X in 2021. Over the period under review, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 583%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of sorbitol to China, accounting for a 67% share of total imports. Moreover, sorbitol imports from France exceeded the figures recorded by the second-largest supplier, Paraguay (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at -12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Paraguay (0.0% per year) and Taiwan (Chinese) (-7.1% per year).

In value terms, France ($X) constituted the largest supplier of sorbitol (excluding d-glucitol) to China, comprising 55% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by Japan, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from France totaled -9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-7.1% per year) and Japan (+0.9% per year).

Import Prices by Country

In 2021, the average sorbitol import price amounted to $X per ton, dropping by -1.8% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sorbitol import price decreased by -13.7% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 102% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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