South-Eastern Asia: Potato Starch Market 2024

Potato Starch Market Size in South-Eastern Asia

The Southeast Asian potato starch market stood at $X in 2021, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Potato Starch Production in South-Eastern Asia

In value terms, potato starch production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Potato Starch Exports

Exports in South-Eastern Asia

In 2021, potato starch exports in South-Eastern Asia reduced to X tons, which is down by -6.7% on the previous year's figure. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2014 when exports increased by 102%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, potato starch exports fell to $X in 2021. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 102% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia was the largest exporter of potato starch in South-Eastern Asia, with the volume of exports amounting to X tons, which was near 66% of total exports in 2021. Thailand (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (8.6%) and Singapore (7.1%). Indonesia (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to potato starch exports from Malaysia stood at +60.7%. At the same time, Thailand (+61.6%), Indonesia (+31.4%) and Vietnam (+18.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +61.6% from 2012-2021. By contrast, Singapore (-7.8%) illustrated a downward trend over the same period. While the share of Malaysia (+61 p.p.), Thailand (+13 p.p.) and Indonesia (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-73.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest potato starch supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was taken by Singapore ($X), with an 18% share of total exports. It was followed by Thailand, with a 10% share.

In Malaysia, potato starch exports expanded at an average annual rate of +44.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Singapore (-7.2% per year) and Thailand (+48.6% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with a decrease of -3.9% against the previous year. Over the period under review, the export price showed a deep slump. The most prominent rate of growth was recorded in 2019 an increase of 40%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+0.7%), while the other leaders experienced a decline in the export price figures.

Potato Starch Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of potato starch increased by 4.9% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 23%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, potato starch imports declined to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 16%. Over the period under review, imports reached the maximum at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Thailand (X tons), Indonesia (X tons) and the Philippines (X tons) was the key importer of potato starch in South-Eastern Asia, committing 73% of total import. Vietnam (X tons) ranks next in terms of the total imports with a 12% share, followed by Malaysia (9%) and Singapore (5.3%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +7.4%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest potato starch importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and the Philippines ($X), together accounting for 72% of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +6.9%, saw the highest rates of growth with regard to 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

The import price in South-Eastern Asia stood at $X per ton in 2021, dropping by -9.9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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