Eastern Asia: Saccharin Market 2024

Saccharin Market Size in Eastern Asia

In 2021, the East Asian saccharin market increased by 6.5% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a pronounced curtailment. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Saccharin Production in Eastern Asia

In value terms, saccharin production reduced slightly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 16% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Saccharin Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in shipments abroad of saccharin and its salts, which increased by 0.2% to X tons in 2021. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, saccharin exports rose slightly to $X in 2021. The total export value increased at an average annual rate of +3.3% 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 2016 when exports increased by 38% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China represented the main exporter of saccharin and its salts in Eastern Asia, with the volume of exports resulting at X tons, which was near 88% of total exports in 2021. It was distantly followed by South Korea (X tons), constituting a 12% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of saccharin and its salts. At the same time, South Korea (+3.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +3.3% from 2012-2021. While the share of South Korea (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest saccharin supplier in Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports.

In China, saccharin exports increased at an average annual rate of +3.7% 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 2.7% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, saccharin export price increased by +4.7% against 2018 indices. The growth pace was the most rapid in 2016 an increase of 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%).

Saccharin Imports

Imports in Eastern Asia

In 2021, the amount of saccharin and its salts imported in Eastern Asia rose notably to X tons, surging by 5.4% against the year before. In general, imports, however, saw a pronounced downturn. The growth pace was the most rapid in 2018 when imports increased by 21% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, saccharin imports totaled $X in 2021. Overall, imports, however, showed a mild setback. The growth pace was the most rapid in 2014 with an increase of 35%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

South Korea (X tons) and Japan (X tons) prevails in imports structure, together achieving 81% of total imports. Taiwan (Chinese) (X tons) held the next position in the ranking, followed by China (X tons). All these countries together held approx. 15% share of total imports. Democratic People's Republic of Korea (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Democratic People's Republic of Korea (with a CAGR of +42.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and China ($X) were the countries with the highest levels of imports in 2021, with a combined 87% share of total imports. Taiwan (Chinese) and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further 12%.

Democratic People's Republic of Korea, with a CAGR of +41.9%, recorded 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 more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, standing approx. at the previous year. Over the last nine-year period, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2014 when the import price increased by 20% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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