Serbia: Modified Starches Market 2024

Modified Starches Market Size in Serbia

The Serbian modified starches market skyrocketed to $X in 2022, with an increase of 1,543% against the previous year. Over the period under review, consumption, however, recorded a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Modified Starches Production in Serbia

In value terms, modified starches production surged to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 357%. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in years to come.

Modified Starches Exports

Exports from Serbia

In 2022, shipments abroad of dextrins and other modified starches decreased by -16.8% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 147%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, modified starches exports surged to $X in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 81%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey (X tons), Italy (X tons) and Bulgaria (X tons) were the main destinations of modified starches exports from Serbia, with a combined 47% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +136.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Italy ($X) and Greece ($X) were the largest markets for modified starches exported from Serbia worldwide, with a combined 42% share of total exports.

Turkey, with a CAGR of +163.4%, recorded the highest growth rate of 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 modified starches export price stood at $X per ton in 2022, jumping by 43% against the previous year. Overall, the export price, however, showed a noticeable decrease. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Bosnia and Herzegovina ($X per ton), while the average price for exports to Hungary ($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 Egypt (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Serbia

Modified starches imports into Serbia skyrocketed to X tons in 2022, surging by 27% compared with 2021 figures. In general, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +55.8% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 45%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, modified starches imports skyrocketed to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +115.8% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 40% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Austria (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of modified starches imports to Serbia, together comprising 52% of total imports. Italy, the Czech Republic, Slovakia, Turkey, Belgium, France, Denmark, Bulgaria, the United States and Slovenia lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +46.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest modified starches suppliers to Serbia were Austria ($X), Germany ($X) and the Netherlands ($X), with a combined 53% share of total imports. The United States, Italy, France, Belgium, the Czech Republic, Turkey, Slovakia, Denmark, Bulgaria and Slovenia lagged somewhat behind, together accounting for a further 35%.

The Czech Republic, with a CAGR of +39.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, picking up by 2.9% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 decreased by -1.0% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 46% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform