Croatia: Modified Starches Market 2024

Modified Starches Market Size in Croatia

The Croatian modified starches market amounted to $X in 2022, increasing by 14% against the previous year. Over the period under review, consumption, however, showed a modest increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Modified Starches Production in Croatia

In value terms, modified starches production rose to $X in 2022 estimated in export price. Overall, production showed a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from Croatia

Modified starches exports from Croatia rose notably to X tons in 2022, with an increase of 10% on the previous year's figure. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 322% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, modified starches exports surged to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 277% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for modified starches exports from Croatia, with a 65% share of total exports. Moreover, modified starches exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Serbia (X tons), fourfold. The third position in this ranking was taken by Slovenia (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina amounted to +57.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+40.5% per year) and Slovenia (+80.1% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for dextrins and other modified starches exports from Croatia, comprising 50% of total exports. The second position in the ranking was taken by Serbia ($X), with a 25% share of total exports. It was followed by Slovenia, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina stood at +49.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+47.1% per year) and Slovenia (+65.1% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, increasing by 24% against the previous year. In general, the export price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when the average export price increased by 46%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Hungary ($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 Hungary (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Croatia

In 2022, modified starches imports into Croatia shrank to X tons, which is down by -11.6% compared with the previous year's figure. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume 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, imports decreased by -28.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 58%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, modified starches imports soared to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +105.0% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Serbia (X tons) were the main suppliers of modified starches imports to Croatia, with a combined 50% share of total imports. Belgium, Italy, Slovakia, Austria and Slovenia lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +57.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of dextrins and other modified starches to Croatia, comprising 24% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9.7% share of total imports. It was followed by Italy, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.3% per year) and Italy (+29.9% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, increasing by 39% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2022: its price 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, modified starches import price increased by +79.5% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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