Portugal: Modified Starches Market 2024

Modified Starches Market Size in Portugal

The Portuguese modified starches market skyrocketed to $X in 2022, picking up by 16% against the previous year. Overall, consumption, however, recorded a noticeable contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Modified Starches Production in Portugal

In value terms, modified starches production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a mild setback. The most prominent rate of growth was recorded in 2020 with an increase of 42%. Modified starches production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Modified Starches Exports

Exports from Portugal

After three years of growth, overseas shipments of dextrins and other modified starches decreased by -15.5% to X tons in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 1,449% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, modified starches exports amounted to $X in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 495% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Spain (X tons) was the main destination for modified starches exports from Portugal, accounting for a 83% share of total exports. Moreover, modified starches exports to Spain exceeded the volume sent to the second major destination, Morocco (X tons), more than tenfold. The UK (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled +60.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+32.2% per year) and the UK (+100.9% per year).

In value terms, Spain ($X) remains the key foreign market for dextrins and other modified starches exports from Portugal, comprising 70% of total exports. The second position in the ranking was taken by the UK ($X), with a 15% share of total exports. It was followed by Morocco, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to +53.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+105.4% per year) and Morocco (+31.5% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, with an increase of 21% against the previous year. In general, the export price, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 87% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Spain ($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 Angola (+15.0%), while the prices for the other major destinations experienced mixed trend patterns.

Modified Starches Imports

Imports into Portugal

In 2022, purchases abroad of dextrins and other modified starches increased by 8.5% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2021 when imports increased by 11% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, modified starches imports surged to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of modified starches to Portugal, accounting for a 56% share of total imports. Moreover, modified starches imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-12.3% per year) and Germany (-0.7% per year).

In value terms, Spain ($X) constituted the largest supplier of dextrins and other modified starches to Portugal, comprising 52% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by the Netherlands, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.2% per year) and the Netherlands (-10.3% per year).

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, growing by 18% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, modified starches import price increased by +76.5% against 2016 indices. The growth pace was the most rapid in 2021 when the average import price increased by 20% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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