Eastern Asia: Non-Wheat Cereal Pellets Market 2024

Non-Wheat Cereal Pellets Market Size in Eastern Asia

In 2021, after three years of growth, there was decline in the East Asian non-wheat cereal pellets market, when its value decreased by -1.7% to $X. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.5% against 2017 indices. The level of consumption peaked at $X in 2020, and then dropped modestly in the following year.

Non-Wheat Cereal Pellets Production in Eastern Asia

In value terms, non-wheat cereal pellets production shrank modestly to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +75.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 60% against the previous year. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Non-Wheat Cereal Pellets Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in shipments abroad of cereal pellets (excluding wheat), which increased by 5.8% to X tons in 2021. Overall, exports saw a significant expansion. The growth pace was the most rapid in 2016 with an increase of 546% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, non-wheat cereal pellets exports soared to $X in 2021. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 413%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. 95% of total exports in 2021. South Korea (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the cereal pellets (excluding wheat) exports, with a CAGR of +33.3% from 2012 to 2021. At the same time, South Korea (+31.8%) displayed positive paces of growth. China (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-wheat cereal pellets supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by South Korea ($X), with a 4.1% share of total exports.

In China, non-wheat cereal pellets exports increased at an average annual rate of +34.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the export price recorded modest growth. The pace of growth was the most pronounced in 2015 an increase of 116% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.6%).

Non-Wheat Cereal Pellets Imports

Imports in Eastern Asia

In 2021, supplies from abroad of cereal pellets (excluding wheat) increased by 1,779% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, non-wheat cereal pellets imports surged to $X in 2021. Overall, imports posted a buoyant expansion. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The purchases of the one major importers of cereal pellets (excluding wheat), namely Japan, represented more than two-thirds of total import.

Japan experienced a relatively flat trend pattern with regard to volume of imports of cereal pellets (excluding wheat). Japan (+6.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported cereal pellets (excluding wheat) in Eastern Asia.

In Japan, non-wheat cereal pellets imports increased at an average annual rate of +19.0% over the period from 2012-2021.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 120% against the previous year. Overall, the import price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 321% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for Japan.

From 2012 to 2021, the rate of growth in terms of prices for Japan amounted to +18.6% per year.

Source: IndexBox Platform

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