Eastern Asia: Maize Starch Market 2024

Maize Starch Market Size in Eastern Asia

The East Asian maize starch market rose markedly to $X in 2021, growing by 5.8% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +49.0% against 2014 indices. The level of consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Maize Starch Production in Eastern Asia

In value terms, maize starch production reached $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.3% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 37%. Over the period under review, production reached the maximum level at $X in 2019; afterwards, it flattened through to 2021.

Maize Starch Exports

Exports in Eastern Asia

In 2021, shipments abroad of maize (corn) starch decreased by -71.4% to X tons, falling for the second consecutive year after five years of growth. In general, exports, however, posted notable growth. The growth pace was the most rapid in 2018 when exports increased by 84% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, maize starch exports declined markedly to $X in 2021. Overall, exports, however, saw slight growth. The growth pace was the most rapid in 2018 when exports increased by 110%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X tons) represented the main exporter of maize (corn) starch, committing 77% of total exports. It was distantly followed by South Korea (X tons), comprising a 22% share of total exports.

China was also the fastest-growing in terms of the maize (corn) starch exports, with a CAGR of +3.8% from 2012 to 2021. South Korea (-2.3%) illustrated a downward trend over the same period. China (+11 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -10.6% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest maize starch supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by South Korea ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China totaled +3.1%.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 41% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.7%).

Maize Starch Imports

Imports in Eastern Asia

In 2021, purchases abroad of maize (corn) starch decreased by -25.1% to X tons, falling for the second consecutive year after five years of growth. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, maize starch imports declined to $X in 2021. Over the period under review, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 41% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) represented the major importing country with an import of around X tons, which finished at 53% of total imports. China (X tons) ranks second in terms of the total imports with a 17% share, followed by Hong Kong SAR (12%) and South Korea (11%). The following importers - Japan (X tons) and Democratic People's Republic of Korea (X tons) - together made up 6.7% of total imports.

From 2012 to 2021, average annual rates of growth with regard to maize starch imports into Taiwan (Chinese) stood at +14.2%. At the same time, China (+37.1%), Japan (+25.9%) and South Korea (+14.4%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +37.1% from 2012-2021. Hong Kong SAR and Democratic People's Republic of Korea experienced a relatively flat trend pattern. From 2012 to 2021, the share of China, Taiwan (Chinese), Japan and South Korea increased by +15, +8.5, +2.9 and +1.9 percentage points, respectively.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported maize (corn) starch in Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports. It was followed by Hong Kong SAR, with a 14% share.

In Taiwan (Chinese), maize starch imports expanded at an average annual rate of +12.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: China (+31.0% per year) and Hong Kong SAR (-1.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 19% against the previous year. Overall, the import price, however, continues to indicate a slight descent. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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