Eastern Asia: Wheat Starch Market 2024

Wheat Starch Market Size in Eastern Asia

After two years of growth, the East Asian wheat starch market decreased by -3.4% to $X in 2021. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Wheat Starch Production in Eastern Asia

In value terms, wheat starch production shrank modestly to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.0% against 2015 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 24% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped slightly in the following year.

Wheat Starch Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of wheat starch, when their volume increased by 17% to X tons. In general, exports, however, continue to indicate a deep setback. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, wheat starch exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt decrease. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) and China (X tons) represented the main exporters of wheat starch in 2021, amounting to approx. 38% and 36% of total exports, respectively. It was distantly followed by Hong Kong SAR (X tons), creating a 23% share of total exports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +2.3%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest wheat starch supplying countries in Eastern Asia were Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X), with a combined 95% share of total exports. South Korea lagged somewhat behind, comprising a further 3.8%.

South Korea, with a CAGR of -0.2%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 1.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 9.6%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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 Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+9.0%), while the other leaders experienced more modest paces of growth.

Wheat Starch Imports

Imports in Eastern Asia

In 2021, supplies from abroad of wheat starch was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wheat starch imports skyrocketed to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Taiwan (Chinese) (X tons), South Korea (X tons) and China (X tons) represented the main importer of wheat starch in Eastern Asia, constituting 81% of total import. Hong Kong SAR (X tons) held the next position in the ranking, followed by Japan (X tons). All these countries together took near 19% share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +74.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, together comprising 77% of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +65.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, standing approx. at the previous year. In general, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2018 when the import price increased by 16%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Japan ($X per ton) and Hong Kong SAR ($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 Taiwan (Chinese) (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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