Spain: Potato Starch Market 2024

Potato Starch Market Size in Spain

The Spanish potato starch market soared to $X in 2021, picking up by 34% against the previous year. In general, consumption, however, continues to indicate a pronounced decline. Potato starch consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Potato Starch Production in Spain

In value terms, potato starch production soared to $X in 2021 estimated in export price. Overall, production, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 43%. Potato starch production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Potato Starch Exports

Exports from Spain

Potato starch exports from Spain skyrocketed to X tons in 2021, increasing by 87% compared with 2020 figures. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 106%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, potato starch exports soared to $X in 2021. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2015 with an increase of 61% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons), Portugal (X tons) and the United States (X tons) were the main destinations of potato starch exports from Spain, together accounting for 76% of total exports. Cuba, the Netherlands, the Dominican Republic and Morocco lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +627.0%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Portugal ($X) and Cuba ($X) were the largest markets for potato starch exported from Spain worldwide, together comprising 78% of total exports. The United States, the Netherlands, the Dominican Republic and Morocco lagged somewhat behind, together comprising a further 18%.

The Dominican Republic, with a CAGR of +442.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average potato starch export price amounted to $X per ton, dropping by -26.9% against the previous year. Over the period under review, the export price saw a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (-4.5%), while the prices for the other major destinations experienced a decline.

Potato Starch Imports

Imports into Spain

In 2021, overseas purchases of potato starch increased by 26% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, potato starch imports contracted slightly to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 7.1% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main suppliers of potato starch imports to Spain, together comprising 72% of total imports. These countries were followed by Denmark, Austria, Poland and the UK, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +11.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest potato starch suppliers to Spain were the Netherlands ($X), France ($X) and Germany ($X), with a combined 73% share of total imports. These countries were followed by Denmark, Austria, Poland and the UK, which together accounted for a further 22%.

Denmark, with a CAGR of +9.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average potato starch import price stood at $X per ton in 2021, waning by -21.8% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 13%. The import price peaked at $X per ton in 2020, and then contracted dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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