Estonia: Modified Starches Market 2024

Modified Starches Market Size in Estonia

In 2022, the Estonian modified starches market increased by 8.4% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a perceptible contraction. Modified starches consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Modified Starches Production in Estonia

In value terms, modified starches production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 43%. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from Estonia

In 2022, after two years of growth, there was significant decline in shipments abroad of dextrins and other modified starches, when their volume decreased by -52.3% to X tons. In general, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 413%. The exports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, modified starches exports fell remarkably to $X in 2022. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 393%. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Russia (X tons) was the main destination for modified starches exports from Estonia, accounting for a 95% share of total exports. It was followed by Finland (X tons), with a 2.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +7.6%.

In value terms, Russia ($X) remains the key foreign market for dextrins and other modified starches exports from Estonia, comprising 90% of total exports. The second position in the ranking was taken by Finland ($X), with a 2.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +4.7%.

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, growing by 1.9% against the previous year. Overall, the export price, however, continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 7%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+11.9%), while the prices for the other major destinations experienced a decline.

Modified Starches Imports

Imports into Estonia

After two years of growth, purchases abroad of dextrins and other modified starches decreased by -38% to X tons in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 168% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell sharply in the following year.

In value terms, modified starches imports contracted remarkably to $X in 2022. In general, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 145%. Imports peaked at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, Finland (X tons) constituted the largest modified starches supplier to Estonia, with a 53% share of total imports. Moreover, modified starches imports from Finland exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from Finland totaled +53.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+4.3% per year) and the Netherlands (-1.0% per year).

In value terms, Finland ($X) constituted the largest supplier of dextrins and other modified starches to Estonia, comprising 42% of total imports. The second position in the ranking was held by Thailand ($X), with a 21% share of total imports. It was followed by the Netherlands, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from Finland amounted to +44.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+8.1% per year) and the Netherlands (+1.3% per year).

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, jumping by 17% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform