South-Eastern Asia: Fructose Market 2024

Fructose Market Size in South-Eastern Asia

The Southeast Asian fructose market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, saw a pronounced curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Fructose Production in South-Eastern Asia

In value terms, fructose production fell to $X in 2021 estimated in export price. In general, production recorded a noticeable descent. The pace of growth appeared the most rapid in 2014 when the production volume increased by 11%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Fructose Exports

Exports in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in shipments abroad of fructose and fructose syrup, when their volume decreased by -7.1% to X tons. Overall, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 182%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, fructose exports expanded rapidly to $X in 2021. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 88%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

Thailand represented the key exporter of fructose and fructose syrup in South-Eastern Asia, with the volume of exports reaching X tons, which was near 75% of total exports in 2021. Malaysia (X tons) ranks second in terms of the total exports with a 13% share, followed by Indonesia (8.7%). Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to fructose exports from Thailand stood at +44.7%. At the same time, Vietnam (+52.6%), Indonesia (+18.7%) and Malaysia (+15.9%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +52.6% from 2012-2021. Thailand (+43 p.p.) and Vietnam (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Malaysia saw its share reduced by -13.2% and -26.8% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest fructose supplier in South-Eastern Asia, comprising 53% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total exports. It was followed by Malaysia, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand stood at +30.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+18.4% per year) and Malaysia (+13.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 14% against the previous year. Overall, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when the export price increased by 14%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.8%), while the other leaders experienced a decline in the export price figures.

Fructose Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of fructose and fructose syrup increased by 6.3% to X tons, rising for the second year in a row after two years of decline. Total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% 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 +13.1% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 40%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, fructose imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 18%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons), distantly followed by the Philippines (X tons), Malaysia (X tons), Thailand (X tons), Vietnam (X tons) and Singapore (X tons) represented the major importers of fructose and fructose syrup, together generating 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +13.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fructose importing markets in South-Eastern Asia were Indonesia ($X), Vietnam ($X) and the Philippines ($X), together comprising 61% of total imports. These countries were followed by Thailand, Singapore and Malaysia, which together accounted for a further 37%.

Thailand, with a CAGR of +8.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 4.4% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 39%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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