Portugal: Potato Starch Market 2024

Potato Starch Market Size in Portugal

In 2021, the Portuguese potato starch market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, recorded a noticeable decrease. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Potato Starch Production in Portugal

In value terms, potato starch production surged to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible slump. The pace of growth was the most pronounced in 2016 when the production volume increased by 66%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Potato Starch Exports

Exports from Portugal

In 2021, overseas shipments of potato starch decreased by -8% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2018 when exports increased by 252%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, potato starch exports rose rapidly to $X in 2021. In general, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 148% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Angola (X tons), Spain (X tons) and the UK (X tons) were the main destinations of potato starch exports from Portugal, together comprising 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +79.4%), while the other leaders experienced more modest paces of growth.

In value terms, Angola ($X), Spain ($X) and the UK ($X) constituted the largest markets for potato starch exported from Portugal worldwide, together comprising 91% of total exports.

The UK, with a CAGR of +55.9%, recorded the highest rates of growth with regard to the value of exports, among 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

The average potato starch export price stood at $X per ton in 2021, increasing by 23% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 33% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to the UK ($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 Cabo Verde (+0.2%), while the prices for the other major destinations experienced a decline.

Potato Starch Imports

Imports into Portugal

In 2021, overseas purchases of potato starch increased by 12% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.4% 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 +59.8% against 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, potato starch imports shrank modestly to $X in 2021. Overall, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 44% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

The Netherlands (X tons), Denmark (X tons) and Spain (X tons) were the main suppliers of potato starch imports to Portugal, together accounting for 79% of total imports. Germany, France and Austria lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +62.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch suppliers to Portugal were the Netherlands ($X), Denmark ($X) and Spain ($X), with a combined 81% share of total imports. Germany, France and Austria lagged somewhat behind, together comprising a further 17%.

Austria, with a CAGR of +49.6%, saw 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 2021, the average potato starch import price amounted to $X per ton, reducing by -12.1% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 22%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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