Denmark: Maize Starch Market 2024

Maize Starch Market Size in Denmark

In 2021, the Danish maize starch market increased by 20% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Maize starch consumption peaked in 2021 and is expected to retain growth in the immediate term.

Maize Starch Production in Denmark

In value terms, maize starch production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 61% against the previous year. Over the period under review, production reached the maximum level in 2021 and is likely to continue growth in years to come.

Maize Starch Exports

Exports from Denmark

In 2019, approx. X tons of maize (corn) starch were exported from Denmark; waning by -6.9% on the year before. Overall, exports faced a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 22% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2019, the exports failed to regain momentum.

In value terms, maize starch exports fell sharply to $X in 2019. Over the period under review, exports showed a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 30%. The exports peaked at $X in 2012; however, from 2013 to 2019, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for maize starch exports from Denmark, accounting for a 86% share of total exports. Moreover, maize starch exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), more than tenfold. The third position in this ranking was taken by South Africa (X tons), with a 2.7% share.

From 2012 to 2019, the average annual growth rate of volume to Sweden amounted to -14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-16.6% per year) and South Africa (0.0% per year).

In value terms, Sweden ($X) remains the key foreign market for maize (corn) starch exports from Denmark, comprising 82% of total exports. The second position in the ranking was held by South Africa ($X), with a 2.9% share of total exports. It was followed by Norway, with a 2.3% share.

From 2012 to 2019, the average annual rate of growth in terms of value to Sweden stood at -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (0.0% per year) and Norway (-17.6% per year).

Export Prices by Country

The average maize starch export price stood at $X per ton in 2019, waning by -27.8% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018, and then dropped sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Finland ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+6.9%), while the prices for the other major destinations experienced mixed trend patterns.

Maize Starch Imports

Imports into Denmark

In 2021, purchases abroad of maize (corn) starch increased by 13% to X tons, rising for the third year in a row after two years of decline. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maize starch imports soared to $X in 2021. Over the period under review, imports, however, showed a mild contraction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest maize starch supplier to Denmark, accounting for a 55% share of total imports. Moreover, maize starch imports from France exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Belgium (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from France stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.7% per year) and Belgium (+20.3% per year).

In value terms, the largest maize starch suppliers to Denmark were France ($X), the Netherlands ($X) and Germany ($X), with a combined 72% share of total imports. These countries were followed by Belgium, Slovakia, Sweden and the UK, which together accounted for a further 23%.

Belgium, with a CAGR of +20.4%, 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

In 2021, the average maize starch import price amounted to $X per ton, rising by 9.2% against the previous year. Overall, the import price, however, showed a mild decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for France ($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 (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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