Greece: Potato Starch Market 2024

Potato Starch Market Size in Greece

In 2021, the Greek potato starch market increased by 8.1% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of 8.4% against the previous year. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Potato Starch Production in Greece

In value terms, potato starch production rose significantly to $X in 2021 estimated in export price. In general, production, however, saw a perceptible shrinkage. Potato starch production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Potato Starch Exports

Exports from Greece

In 2021, shipments abroad of potato starch increased by 93% to X tons, rising for the sixth consecutive year after two years of decline. Overall, exports posted a significant increase. The growth pace was the most rapid in 2016 when exports increased by 437% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, potato starch exports skyrocketed to $X in 2021. In general, exports posted a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 235%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Poland (X tons), Romania (X tons) and the Czech Republic (X tons) were the main destinations of potato starch exports from Greece, together comprising 94% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +265.9%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Romania ($X) and Cyprus ($X) constituted the largest markets for potato starch exported from Greece worldwide, with a combined 88% share of total exports.

In terms of the main countries of destination, Romania, with a CAGR of +224.2%, recorded the highest rates of growth with regard to 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 2021, the average potato starch export price amounted to $X per ton, increasing by 6.5% against the previous year. Overall, the export price, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2014 an increase of 47% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+31.3%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Starch Imports

Imports into Greece

In 2021, purchases abroad of potato starch decreased by -1% to X tons, falling for the third year in a row after two years of growth. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 19%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, potato starch imports fell to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 24% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Austria (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of potato starch imports to Greece, together accounting for 57% of total imports. Denmark, Poland, Belgium, the Czech Republic and Bulgaria lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +38.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Austria ($X) and Germany ($X) appeared to be the largest potato starch suppliers to Greece, together comprising 57% of total imports. Denmark, Poland, the Czech Republic, Belgium and Bulgaria lagged somewhat behind, together comprising a further 40%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +43.5%, saw 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

The average potato starch import price stood at $X per ton in 2021, waning by -9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 12% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Poland ($X per ton) and Bulgaria ($X per ton), while the price for Belgium ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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