Indonesia: Sorbitol Market 2024

Sorbitol Market Size in Indonesia

The Indonesian sorbitol market dropped notably to $X in 2021, waning by -66.8% against the previous year. Over the period under review, consumption recorded a significant contraction. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Sorbitol Production in Indonesia

In value terms, sorbitol production reached $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Sorbitol Exports

Exports from Indonesia

For the third consecutive year, Indonesia recorded growth in shipments abroad of sorbitol (excluding d-glucitol), which increased by 2.6% to X tons in 2021. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 50%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, sorbitol exports expanded remarkably to $X in 2021. Over the period under review, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2019 when exports increased by 41%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Vietnam (X tons), Pakistan (X tons) and Bangladesh (X tons) were the main destinations of sorbitol exports from Indonesia, together accounting for 47% of total exports. These countries were followed by South Korea, South Africa, the Philippines, Thailand, Australia, the United States, Saudi Arabia, Japan, Malaysia and Myanmar, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +55.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sorbitol exported from Indonesia were Vietnam ($X), Pakistan ($X) and Bangladesh ($X), with a combined 45% share of total exports. These countries were followed by South Korea, South Africa, the Philippines, Thailand, Australia, the United States, Japan, Saudi Arabia, Malaysia and Myanmar, which together accounted for a further 40%.

Australia, with a CAGR of +55.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 sorbitol export price amounted to $X per ton, with an increase of 3.1% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the countries with the highest prices were Japan ($X per ton) and the United States ($X per ton), while the average price for exports to Pakistan ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.4%), while the prices for the other major destinations experienced mixed trend patterns.

Sorbitol Imports

Imports into Indonesia

In 2021, supplies from abroad of sorbitol (excluding d-glucitol) decreased by -32.7% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 127% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, sorbitol imports contracted to $X in 2021. In general, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of 170% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest sorbitol supplier to Indonesia, accounting for a 78% share of total imports. Moreover, sorbitol imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.3% per year) and Turkey (-20.4% per year).

In value terms, China ($X) constituted the largest supplier of sorbitol (excluding d-glucitol) to Indonesia, comprising 71% of total imports. The second position in the ranking was held by France ($X), with a 22% share of total imports. It was followed by Turkey, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-7.0% per year) and Turkey (-20.4% per year).

Import Prices by Country

The average sorbitol import price stood at $X per ton in 2021, surging by 28% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were France ($X per ton) and Thailand ($X per ton), while the price for Turkey ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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