Pakistan: Sorbitol Market 2024

Sorbitol Market Size in Pakistan

The Pakistani sorbitol market totaled $X in 2021, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +42.2% against 2016 indices. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Sorbitol Exports

Exports from Pakistan

In 2021, shipments abroad of sorbitol (excluding d-glucitol) decreased by 0% to X kg, falling for the second year in a row after three years of growth. Over the period under review, exports showed a dramatic slump. The pace of growth appeared the most rapid in 2019 when exports increased by 3.3%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, sorbitol exports stood at $X in 2021. Overall, exports recorded a precipitous shrinkage. The smallest decline of -14.4% was in 2019. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Angola (X kg) was the main destination for sorbitol exports from Pakistan, with a 85% share of total exports. Moreover, sorbitol exports to Angola exceeded the volume sent to the second major destination, Thailand (X kg), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Angola was relatively modest.

In value terms, Angola ($X) and Thailand ($X) were the largest markets for sorbitol exported from Pakistan worldwide.

Angola, with a CAGR of 0.0%, 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.

Export Prices by Country

The average sorbitol export price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the export price recorded a moderate expansion. The most prominent rate of growth was recorded in 2019 when the average export price decreased by -17.2% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Thailand ($X per ton), while the average price for exports to Angola totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+6.1%).

Sorbitol Imports

Imports into Pakistan

In 2021, overseas purchases of sorbitol (excluding d-glucitol) increased by 0.2% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 127% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, sorbitol imports amounted to $X in 2021. Over the period under review, imports showed prominent growth. The growth pace was the most rapid in 2014 when imports increased by 103%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of sorbitol to Pakistan, accounting for a 39% share of total imports. Moreover, sorbitol imports from Indonesia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Turkey (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +30.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.7% per year) and Turkey (+28.6% per year).

In value terms, Indonesia ($X) constituted the largest supplier of sorbitol (excluding d-glucitol) to Pakistan, comprising 44% of total imports. The second position in the ranking was held by China ($X), with a 7.5% share of total imports. It was followed by Turkey, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia stood at +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.8% per year) and Turkey (+30.8% per year).

Import Prices by Country

In 2021, the average sorbitol import price amounted to $X per ton, stabilizing at the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 18% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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