South-Eastern Asia: Wheat Gluten Market 2024

Wheat Gluten Market Size in South-Eastern Asia

The Southeast Asian wheat gluten market soared to $X in 2022, growing by 18% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.1% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Wheat Gluten Production in South-Eastern Asia

In value terms, wheat gluten production declined sharply to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by 22,650%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Wheat Gluten Exports

Exports in South-Eastern Asia

In 2022, wheat gluten exports in South-Eastern Asia surged to X tons, with an increase of 20% on 2021. In general, exports, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of 101% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, wheat gluten exports reached $X in 2022. Overall, exports posted measured growth. The growth pace was the most rapid in 2021 when exports increased by 145%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) and Thailand (X tons) represented the main exporters of wheat gluten in 2022, resulting at near 47% and 33% of total exports, respectively. Malaysia (X tons) ranks next in terms of the total exports with an 11% share, followed by Indonesia (7%). Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +18.7%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest wheat gluten supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was taken by Thailand ($X), with a 19% share of total exports. It was followed by Malaysia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +4.9%. In the other countries, the average annual rates were as follows: Thailand (-4.8% per year) and Malaysia (+21.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, declining by -14% against the previous year. In general, the export price, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 an increase of 59%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.5%), while the other leaders experienced more modest paces of growth.

Wheat Gluten Imports

Imports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in purchases abroad of wheat gluten, which increased by 6.3% to X tons in 2022. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 15%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, wheat gluten imports surged to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.1% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 30% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Thailand (X tons) and Vietnam (X tons) represented the largest importers of wheat gluten in 2022, reaching approx. 37% and 28% of total imports, respectively. Malaysia (X tons) took the next position in the ranking, followed by the Philippines (X tons) and Indonesia (X tons). All these countries together held near 32% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +7.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, with a combined 78% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +12.0%, recorded 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 13% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2013 when the import price increased by 16%. The level of import peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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