South Africa: Modified Starches Market 2024

Modified Starches Market Size in South Africa

In 2022, the South African modified starches market increased by 6.8% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, saw a mild curtailment. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Modified Starches Production in South Africa

In value terms, modified starches production shrank to $X in 2022 estimated in export price. Overall, production showed a pronounced reduction. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports from South Africa

In 2022, exports of dextrins and other modified starches from South Africa shrank to X tons, waning by -2.6% on the previous year's figure. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 36%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, modified starches exports totaled $X in 2022. In general, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 35% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

Australia (X tons), Zambia (X tons) and Zimbabwe (X tons) were the main destinations of modified starches exports from South Africa, together accounting for 77% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Zambia (with a CAGR of +87.6%), while the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), Australia ($X) and Zimbabwe ($X) appeared to be the largest markets for modified starches exported from South Africa worldwide, together accounting for 74% of total exports.

In terms of the main countries of destination, Zambia, with a CAGR of +76.7%, recorded the highest growth rate of the value of exports, 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, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2021 an increase of 34% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to New Zealand ($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 Taiwan (Chinese) (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into South Africa

Modified starches imports into South Africa soared to X tons in 2022, growing by 28% compared with 2021. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.4% against 2020 indices. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, modified starches imports soared to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of modified starches imports to South Africa, together accounting for 64% of total imports. Brazil, the Netherlands, Austria, Vietnam and China lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +22.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest modified starches suppliers to South Africa were Thailand ($X), the United States ($X) and Austria ($X), together comprising 58% of total imports. Italy, Brazil, the Netherlands, China and Vietnam lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, Brazil, with a CAGR of +17.9%, saw the highest growth rate of the value of imports, 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, rising by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Austria ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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