Italy: Modified Starches Market 2024

Modified Starches Market Size in Italy

In 2022, the Italian modified starches market increased by 5.6% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, showed a mild decline. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Modified Starches Production in Italy

In value terms, modified starches production totaled $X in 2022 estimated in export price. Overall, production, however, saw a mild curtailment. The growth pace was the most rapid in 2017 with an increase of 43%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Modified Starches Exports

Exports from Italy

In 2022, the amount of dextrins and other modified starches exported from Italy reduced to X tons, dropping by -6.6% on the year before. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 20% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, modified starches exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons), France (X tons) and the UK (X tons) were the main destinations of modified starches exports from Italy, together comprising 40% of total exports. Vietnam, the Netherlands, Austria, South Africa, Poland, Spain, Taiwan (Chinese), Malaysia, Finland and Sweden lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +39.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for dextrins and other modified starches exports from Italy, comprising 21% of total exports. The second position in the ranking was taken by France ($X), with a 9.6% share of total exports. It was followed by the UK, with a 7.8% share.

From 2012 to 2022, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-2.3% per year) and the UK (+6.5% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, growing by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to South Africa ($X per ton) and the UK ($X per ton), while the average price for exports to Vietnam ($X per ton) and Malaysia ($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 the UK (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Italy

In 2022, the amount of dextrins and other modified starches imported into Italy fell to X tons, declining by -4.1% against 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 12%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, modified starches imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The Netherlands (X tons), Germany (X tons) and France (X tons) were the main suppliers of modified starches imports to Italy, with a combined 85% share of total imports. Austria, the Czech Republic, Belgium, Canada and Denmark lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +48.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the largest modified starches suppliers to Italy, with a combined 82% share of total imports. Austria, the Czech Republic, Belgium, Canada and Denmark lagged somewhat behind, together accounting for a further 12%.

In terms of the main suppliers, Canada, with a CAGR of +46.3%, recorded 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

In 2022, the average modified starches import price amounted to $X per ton, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and Austria ($X per ton), while the price for the Netherlands ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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