Eastern Asia: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Eastern Asia

In 2022, after six years of growth, there was significant decline in the East Asian market for malt extract and food preparations of flour, meal, and starches, when its value decreased by -8.9% to $X. The market value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Production of Malt Extract And Food Preparations Of Flour, Meal, And Starch in Eastern Asia

In value terms, production of malt extract and food preparations of flour, meal, and starches shrank to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +41.9% against 2014 indices. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. The level of production peaked at $X in 2021, and then declined in the following year.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports in Eastern Asia

In 2022, exports of malt extract and food preparations of flour, meal, and starches in Eastern Asia declined slightly to X tons, reducing by -4.6% compared with the previous year. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 32%. The volume of export peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, exports of malt extract and food preparations of flour, meal, and starches contracted to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 34%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, South Korea (X tons) and China (X tons) were the major exporters of malt extract and food preparations of flour, meal, and starches in Eastern Asia, together comprising 74% of total exports. Taiwan (Chinese) (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Japan (12%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest malt extract and food preparations of flour, meal, and starch supplying countries in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 81% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +18.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, dropping by -6.8% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 15%. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded decline in purchases abroad of malt extract and food preparations of flour, meal, and starches, which decreased by -13.7% to X tons in 2022. Over the period under review, imports saw a perceptible downturn. The growth pace was the most rapid in 2018 with an increase of 13% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of malt extract and food preparations of flour, meal, and starches dropped to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 16%. The level of import peaked at $X in 2021, and then dropped modestly in the following year.

Imports by Country

Japan represented the main importing country with an import of around X tons, which amounted to 62% of total imports. It was distantly followed by China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together making up a 35% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to malt extract and food preparations of flour, meal, and starch imports into Japan stood at -3.9%. At the same time, South Korea (+4.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +4.2% from 2012-2022. China and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and South Korea increased by +4.8 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 92% of total imports.

Among the main importing countries, South Korea, with a CAGR of +7.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 10% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2020 when the import price increased by 17% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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