New Zealand: Modified Starches Market 2024

Modified Starches Market Size in New Zealand

The New Zealand modified starches market dropped slightly to $X in 2022, waning by -2.9% against the previous year. Overall, consumption, however, enjoyed tangible growth. Modified starches consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Modified Starches Production in New Zealand

In value terms, modified starches production contracted sharply to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 315%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Modified Starches Exports

Exports from New Zealand

In 2022, after three years of growth, there was decline in shipments abroad of dextrins and other modified starches, when their volume decreased by -2.7% to X tons. Over the period under review, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 832%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, modified starches exports dropped slightly to $X in 2022. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 481%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Japan (X tons) and Fiji (X tons) were the main destinations of modified starches exports from New Zealand, with a combined 96% share of total exports. The United States lagged somewhat behind, accounting for a further 2.3%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +126.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Japan ($X) and Fiji ($X) constituted the largest markets for modified starches exported from New Zealand worldwide, together comprising 96% of total exports. These countries were followed by the United States, which accounted for a further 1.8%.

The United States, with a CAGR of +79.6%, saw the highest growth rate of 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 2022, the average modified starches export price amounted to $X per ton, with a decrease of -2.2% against the previous year. Overall, the export price recorded a pronounced setback. The growth pace was the most rapid in 2021 an increase of 36%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Japan ($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 Fiji (+6.6%), while the prices for the other major destinations experienced mixed trend patterns.

Modified Starches Imports

Imports into New Zealand

In 2022, purchases abroad of dextrins and other modified starches decreased by -4% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, imports, however, showed buoyant growth. The growth pace was the most rapid in 2018 with an increase of 50% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, modified starches imports rose significantly to $X in 2022. Overall, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2018 when imports increased by 89%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Thailand (X tons) and the Netherlands (X tons) were the main suppliers of modified starches imports to New Zealand, together accounting for 67% of total imports. Australia, China, Indonesia, France, Germany and South Africa lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +30.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Thailand ($X) constituted the largest modified starches suppliers to New Zealand, together comprising 73% of total imports.

The Netherlands, with a CAGR of +33.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 9.5% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the average import price increased by 30% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for South Africa ($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 Netherlands (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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