Southern Asia: Sorbitol Market 2024

Sorbitol Market Size in Southern Asia

The South Asian sorbitol market expanded rapidly to $X in 2021, growing by 6.1% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Sorbitol Production in Southern Asia

In value terms, sorbitol production totaled $X in 2021 estimated in export price. In general, production saw a slight decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Sorbitol Exports

Exports in Southern Asia

In 2021, sorbitol exports in Southern Asia surged to X tons, rising by 119% on the year before. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 335%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, sorbitol exports surged to $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 252%. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together amounting to 99.9% of total export.

India was also the fastest-growing in terms of the sorbitol (excluding d-glucitol) exports, with a CAGR of +57.4% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest sorbitol supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India totaled +50.4%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, which is down by -5.9% against the previous year. In general, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 an increase of 50%. 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 failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -4.5% per year.

Sorbitol Imports

Imports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in overseas purchases of sorbitol (excluding d-glucitol), which increased by 22% to X tons in 2021. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +99.8% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 33% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, sorbitol imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 +124.7% against 2016 indices. The growth pace was the most rapid in 2020 when imports increased by 27% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Bangladesh (X tons) and Pakistan (X tons) dominates imports structure, together generating 90% of total imports. It was distantly followed by Sri Lanka (X tons), constituting a 6.8% share of total imports. India (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Sri Lanka (with a CAGR of +19.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sorbitol importing markets in Southern Asia were Bangladesh ($X), Pakistan ($X) and Sri Lanka ($X), with a combined 95% share of total imports.

In terms of the main importing countries, Sri Lanka, with a CAGR of +18.6%, recorded the highest growth rate of 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 Southern Asia stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 14%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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