South-Eastern Asia: Inulin Market 2024

Inulin Market Size in South-Eastern Asia

The Southeast Asian inulin market declined to $X in 2021, reducing by -1.7% against the previous year. In general, consumption, however, showed a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Inulin Production in South-Eastern Asia

In value terms, inulin production dropped to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Inulin Exports

Exports in South-Eastern Asia

Inulin exports skyrocketed to X tons in 2021, with an increase of 16% on the year before. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 250%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, inulin exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of 438% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

Thailand prevails in exports structure, finishing at X tons, which was near 97% of total exports in 2021. Vietnam (X tons) held a relatively small share of total exports.

Thailand was also the fastest-growing in terms of the inulin exports, with a CAGR of +57.7% from 2012 to 2021. At the same time, Vietnam (+39.8%) displayed positive paces of growth. Thailand (+44 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest inulin supplier in South-Eastern Asia, comprising 97% of total exports. The second position in the ranking was held by Vietnam ($X), with a 1.8% share of total exports.

In Thailand, inulin exports expanded at an average annual rate of +57.8% over the period from 2012-2021.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, increasing by 20% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2014 an increase of 54% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.1%).

Inulin Imports

Imports in South-Eastern Asia

Inulin imports rose slightly to X tons in 2021, growing by 2.9% compared with the previous year's figure. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 +22.0% against 2016 indices. The pace of growth was the most pronounced in 2016 when imports increased by 15%. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, inulin imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

Indonesia was the key importing country with an import of around X tons, which resulted at 49% of total imports. Thailand (X tons) ranks second in terms of the total imports with a 17% share, followed by Vietnam (13%), the Philippines (11%) and Malaysia (8%). Singapore (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to inulin imports into Indonesia stood at +6.0%. At the same time, Vietnam (+12.3%), the Philippines (+8.6%), Singapore (+5.9%) and Thailand (+2.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +12.3% from 2012-2021. Malaysia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Vietnam, Indonesia and the Philippines increased by +5.5, +2.7 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported inulin in South-Eastern Asia, comprising 50% of total imports. The second position in the ranking was held by Thailand ($X), with a 16% share of total imports. It was followed by the Philippines, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Indonesia totaled +5.6%. In the other countries, the average annual rates were as follows: Thailand (+1.1% per year) and the Philippines (+9.5% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, surging by 9.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Singapore ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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