Hong Kong SAR, China: Modified Starches Market 2024

Modified Starches Market Size in Hong Kong SAR, China

The Hong Kong modified starches market stood at $X in 2022, picking up by 11% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Modified Starches Production in Hong Kong SAR, China

In value terms, modified starches production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2020 with an increase of 61% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Modified Starches Exports

Exports from Hong Kong SAR, China

Modified starches exports from Hong Kong SAR surged to X tons in 2022, increasing by 249% on 2021. Over the period under review, exports, however, continue to indicate a dramatic setback. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, modified starches exports soared to $X in 2022. In general, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 592%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for modified starches exports from Hong Kong SAR, accounting for a 89% share of total exports. Moreover, modified starches exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to China stood at -20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-14.4% per year) and the Netherlands (-40.9% per year).

In value terms, China ($X) emerged as the key foreign market for dextrins and other modified starches exports from Hong Kong SAR, comprising 65% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 32% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-9.8% per year) and the Netherlands (-26.6% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, declining by -36.6% against the previous year. Overall, the export price, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 151% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of dextrins and other modified starches were imported into Hong Kong SAR; increasing by 14% against the previous year's figure. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 33% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, modified starches imports rose markedly to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.8% against 2012 indices. The most prominent rate of growth was recorded in 2019 with an increase of 21% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of modified starches to Hong Kong SAR, with a 78% share of total imports. Moreover, modified starches imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), tenfold. The third position in this ranking was taken by Belgium (X tons), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+24.8% per year) and Belgium (+2.3% per year).

In value terms, China ($X) constituted the largest supplier of dextrins and other modified starches to Hong Kong SAR, comprising 78% of total imports. The second position in the ranking was held by Japan ($X), with a 6.5% share of total imports. It was followed by Belgium, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.4% per year) and Belgium (+5.1% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, which is down by -3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 an increase of 16% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then fell slightly in the following year.

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 the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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