Eastern Asia: Potato Starch Market 2024

Potato Starch Market Size in Eastern Asia

In 2021, the East Asian potato starch market increased by 5.1% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; afterwards, it flattened through to 2021.

Potato Starch Production in Eastern Asia

In value terms, potato starch production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 31% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Potato Starch Exports

Exports in Eastern Asia

In 2021, overseas shipments of potato starch decreased by -36.6% to X tons, falling for the second consecutive year after two years of growth. In general, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 50%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, potato starch exports dropped remarkably to $X in 2021. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 54%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Hong Kong SAR (X tons) and Democratic People's Republic of Korea (X tons) represented the key exporters of potato starch in Eastern Asia, together amounting to approx. 67% of total exports. China (X tons) took the next position in the ranking, followed by Japan (X tons). All these countries together took near 25% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and South Korea (X tons) - each amounted to a 7.3% share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +19.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the largest potato starch supplier in Eastern Asia, comprising 44% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports. It was followed by China, with a 14% share.

In Hong Kong SAR, potato starch exports declined by an average annual rate of -7.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+14.5% per year) and China (-15.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2014 an increase of 24% against the previous year. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see steady 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 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 Democratic People's Republic of Korea (+3.1%), while the other leaders experienced more modest paces of growth.

Potato Starch Imports

Imports in Eastern Asia

In 2021, supplies from abroad of potato starch increased by 32% to X tons, rising for the second year in a row after two years of decline. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 68%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, potato starch imports soared to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

South Korea (X tons) and China (X tons) represented roughly 70% of total imports in 2021. Taiwan (Chinese) (X tons) ranks next in terms of the total imports with a 19% share, followed by Hong Kong SAR (6.9%). Japan (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +10.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch importing markets in Eastern Asia were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 86% of total imports.

China, with a CAGR of +9.6%, saw the highest growth rate of the value of imports, among the main importing countries 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 2021, waning by -10.3% against the previous year. Overall, the import price saw a mild curtailment. The most prominent rate of growth was recorded in 2019 an increase of 14% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Hong Kong SAR ($X per ton) and Japan ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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