South-Eastern Asia: Sorbitol Market 2024

Sorbitol Market Size in South-Eastern Asia

In 2021, the Southeast Asian sorbitol market was finally on the rise to reach $X after two years of decline. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Sorbitol Production in South-Eastern Asia

In value terms, sorbitol production reached $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Sorbitol Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in overseas shipments of sorbitol (excluding d-glucitol), which increased by 1% to X tons in 2021. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +46.7% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 32% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, sorbitol exports rose modestly to $X in 2021. Total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +50.8% against 2015 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Indonesia was the key exporting country with an export of about X tons, which reached 74% of total exports. It was distantly followed by Thailand (X tons), generating a 26% share of total exports.

Indonesia was also the fastest-growing in terms of the sorbitol (excluding d-glucitol) exports, with a CAGR of +8.2% from 2012 to 2021. Thailand experienced a relatively flat trend pattern. While the share of Indonesia (+15 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-15.1 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest sorbitol supplier in South-Eastern Asia, comprising 68% of total exports. The second position in the ranking was held by Thailand ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia totaled +7.3%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 2% against the previous year. Overall, the export price, however, continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2018 an increase of 22%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia 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%).

Sorbitol Imports

Imports in South-Eastern Asia

Sorbitol imports shrank to X tons in 2021, falling by -6.7% on the previous year. Over the period under review, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 35% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, sorbitol imports stood at $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +9.1% 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 decreased by -8.0% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 43%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X tons) and Thailand (X tons) were the key importers of sorbitol (excluding d-glucitol) in South-Eastern Asia, together recording near 70% of total imports. The Philippines (X tons) took the next position in the ranking, followed by Malaysia (X tons) and Indonesia (X tons). All these countries together held near 25% share of total imports. Myanmar (X tons) took a little share 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 Myanmar (with a CAGR of +38.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sorbitol importing markets in South-Eastern Asia were Vietnam ($X), Thailand ($X) and the Philippines ($X), together accounting for 80% of total imports. These countries were followed by Malaysia, Indonesia and Myanmar, which together accounted for a further 19%.

Myanmar, with a CAGR of +38.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, surging by 23% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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