Japan: Sorbitol Market 2024

Sorbitol Market Size in Japan

In 2021, the Japanese sorbitol market increased by 4.6% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a noticeable downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Sorbitol Exports

Exports from Japan

In 2021, overseas shipments of sorbitol (excluding d-glucitol) decreased by -34% to X tons, falling for the second consecutive year after six years of growth. In general, exports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2014 when exports increased by 491%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, sorbitol exports shrank slightly to $X in 2021. Over the period under review, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 341%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X tons) was the main destination for sorbitol exports from Japan, accounting for a 56% share of total exports. Moreover, sorbitol exports to Egypt exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt amounted to +77.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+76.7% per year) and Thailand (+3.1% per year).

In value terms, Egypt ($X) remains the key foreign market for sorbitol (excluding d-glucitol) exports from Japan, comprising 65% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 7.6% share of total exports. It was followed by Thailand, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Egypt stood at +48.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+84.0% per year) and Thailand (-10.8% per year).

Export Prices by Country

In 2021, the average sorbitol export price amounted to $X per ton, growing by 47% against the previous year. In general, the export price, however, saw a pronounced descent. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Egypt ($X per ton), while the average price for exports to Vietnam ($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 China (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Sorbitol Imports

Imports into Japan

In 2021, the amount of sorbitol (excluding d-glucitol) imported into Japan rose to X tons, with an increase of 1.8% against the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 46%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, sorbitol imports rose to $X in 2021. Overall, imports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 37% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of sorbitol to Japan, accounting for a 88% share of total imports. Moreover, sorbitol imports from Thailand exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+38.3% per year) and China (-10.9% per year).

In value terms, Thailand ($X) constituted the largest supplier of sorbitol (excluding d-glucitol) to Japan, comprising 87% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 7.1% share of total imports. It was followed by China, with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+34.8% per year) and China (-14.6% per year).

Import Prices by Country

In 2021, the average sorbitol import price amounted to $X per ton, approximately equating the previous year. In general, the import price, however, showed a perceptible contraction. The growth pace was the most rapid in 2018 when the average import price increased by 9.2% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from China ($X per ton) and South Korea ($X per ton), while the price for Thailand ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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