India: Modified Starches Market 2024

Modified Starches Market Size in India

The Indian modified starches market declined slightly to $X in 2022, which is down by -2.7% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Modified Starches Production in India

In value terms, modified starches production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 15%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Modified Starches Exports

Exports from India

Modified starches exports from India soared to X tons in 2022, with an increase of 44% against the previous year's figure. Overall, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +105.3% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, modified starches exports surged to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +123.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for modified starches exports from India, with a 34% share of total exports. Moreover, modified starches exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by Bangladesh (X tons), with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia stood at +14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+9.2% per year) and Bangladesh (+29.5% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for dextrins and other modified starches exports from India, comprising 35% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Bangladesh, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia stood at +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+8.1% per year) and Bangladesh (+26.0% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, rising by 17% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Iraq ($X per ton) and Egypt ($X per ton), while the average price for exports to Kuwait ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into India

In 2022, imports of dextrins and other modified starches into India fell modestly to X tons, which is down by -4.1% compared with 2021 figures. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +9.4% 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 +18.9% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 48% against the previous year. Imports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, modified starches imports skyrocketed to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.6% 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 +48.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of modified starches to India, with a 73% share of total imports. Moreover, modified starches imports from Thailand exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. The third position in this ranking was taken by the Netherlands (X tons), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.7% per year) and the Netherlands (+2.1% per year).

In value terms, Thailand ($X) constituted the largest supplier of dextrins and other modified starches to India, comprising 52% of total imports. The second position in the ranking was taken by the United States ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.4% per year) and the Netherlands (+2.9% per year).

Import Prices by Country

In 2022, the average modified starches import price amounted to $X per ton, with an increase of 24% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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