Mexico: Modified Starches Market 2024

Modified Starches Market Size in Mexico

The Mexican modified starches market declined modestly to $X in 2022, approximately mirroring the previous year. Overall, consumption, however, saw a mild reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Modified Starches Production in Mexico

In value terms, modified starches production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a pronounced curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by 41% against the previous year. Modified starches production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Modified Starches Exports

Exports from Mexico

Modified starches exports from Mexico was estimated at X tons in 2022, therefore, remained relatively stable against the previous year. Over the period under review, exports faced a abrupt curtailment. The growth pace was the most rapid in 2018 when exports increased by 676% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, modified starches exports totaled $X in 2022. In general, exports saw a abrupt descent. The growth pace was the most rapid in 2018 when exports increased by 735% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for modified starches exports from Mexico, accounting for a 50% share of total exports. Moreover, modified starches exports to the United States exceeded the volume sent to the second major destination, Costa Rica (X tons), sixfold. The third position in this ranking was taken by Colombia (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-20.8% per year) and Colombia (-11.3% per year).

It was followed by Guatemala, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-20.0% per year) and Guatemala (-7.9% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price showed a pronounced contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 10% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to the United States ($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 Australia (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Mexico

In 2022, supplies from abroad of dextrins and other modified starches increased by 20% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, modified starches imports soared to $X in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +60.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of modified starches to Mexico, accounting for a 62% share of total imports. Moreover, modified starches imports from the United States exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. The third position in this ranking was taken by Germany (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+4.4% per year) and Germany (+10.8% per year).

In value terms, the United States ($X) constituted the largest supplier of dextrins and other modified starches to Mexico, comprising 62% of total imports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+6.9% per year) and Germany (+10.2% per year).

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, picking up by 23% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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