Eastern Asia: Fructose Market 2024

Fructose Market Size in Eastern Asia

In 2021, the East Asian fructose market increased by 1.3% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Fructose Production in Eastern Asia

In value terms, fructose production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a slight downturn. The most prominent rate of growth was recorded in 2015 with an increase of 20%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Fructose Exports

Exports in Eastern Asia

In 2021, overseas shipments of fructose and fructose syrup decreased by -23.4% to X tons, falling for the fourth consecutive year after six years of growth. Total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% 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 -45.6% against 2017 indices. The most prominent rate of growth was recorded in 2016 with an increase of 34%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, fructose exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 25% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China was the main exporter of fructose and fructose syrup in Eastern Asia, with the volume of exports reaching X tons, which was approx. 82% of total exports in 2021. It was distantly followed by South Korea (X tons), committing a 14% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +2.5% from 2012 to 2021. At the same time, Taiwan (Chinese) (+14.2%) and South Korea (+5.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +14.2% from 2012-2021. From 2012 to 2021, the share of South Korea and Taiwan (Chinese) increased by +2.6 and +2 percentage points, respectively.

In value terms, China ($X) remains the largest fructose supplier in Eastern Asia, comprising 76% of total exports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total exports.

In China, fructose exports increased at an average annual rate of +4.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+3.3% per year) and Taiwan (Chinese) (+15.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 39% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. As a result, the export 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 exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the other leaders experienced mixed trends in the export price figures.

Fructose Imports

Imports in Eastern Asia

In 2021, overseas purchases of fructose and fructose syrup decreased by -33.9% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, imports, however, posted a strong increase. The growth pace was the most rapid in 2020 with an increase of 347% against the previous year. As a result, imports attained the peak of X tons, and then reduced sharply in the following year.

In value terms, fructose imports contracted remarkably to $X in 2021. Overall, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 158% against the previous year. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

China dominates imports structure, resulting at X tons, which was approx. 85% of total imports in 2021. It was distantly followed by South Korea (X tons), achieving an 8.6% share of total imports. The following importers - Japan (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - each accounted for a 5.9% share of total imports.

China was also the fastest-growing in terms of the fructose and fructose syrup imports, with a CAGR of +54.0% from 2012 to 2021. At the same time, Taiwan (Chinese) (+2.2%) displayed positive paces of growth. By contrast, Hong Kong SAR (-2.6%), South Korea (-3.0%) and Japan (-4.9%) illustrated a downward trend over the same period. China (+77 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Hong Kong SAR, Japan and South Korea saw its share reduced by -5.7%, -9.1%, -14.9% and -46.3% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported fructose and fructose syrup in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total imports. It was followed by Japan, with a 5.7% share.

In China, fructose imports expanded at an average annual rate of +30.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-0.5% per year) and Japan (-3.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, jumping by 26% against the previous year. Over the period under review, the import price, however, continues to indicate a deep downturn. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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