Thailand: Potato Starch Market 2024

Potato Starch Market Size in Thailand

In 2021, the Thai potato starch market increased by 2.6% to $X, rising for the sixth year in a row after three years of decline. In general, consumption, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the market value increased by 5.5% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Potato Starch Production in Thailand

In value terms, potato starch production stood at $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 11%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Potato Starch Exports

Exports from Thailand

In 2021, the amount of potato starch exported from Thailand contracted notably to X tons, declining by -16.4% against the previous year's figure. Overall, exports, however, posted a significant increase. The growth pace was the most rapid in 2013 when exports increased by 1,341% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, potato starch exports fell sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 1,147% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for potato starch exports from Thailand, with a 97% share of total exports. It was followed by Indonesia (X tons), with a 1.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Australia totaled +285.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+232.9% per year) and the United Arab Emirates (-17.7% per year).

In value terms, Australia ($X) remains the key foreign market for potato starch exports from Thailand, comprising 92% of total exports. The second position in the ranking was held by Indonesia ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +315.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+199.0% per year) and the United Arab Emirates (-5.0% per year).

Export Prices by Country

The average potato starch export price stood at $X per ton in 2021, with a decrease of -4.9% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 60% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Australia ($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 the United Arab Emirates (+15.4%), while the prices for the other major destinations experienced mixed trend patterns.

Potato Starch Imports

Imports into Thailand

In 2021, the amount of potato starch imported into Thailand expanded rapidly to X tons, increasing by 6.1% against the year before. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.9% 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 +28.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 43%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, potato starch imports fell to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 21%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Denmark (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of potato starch imports to Thailand, together comprising 88% of total imports. France, the Netherlands and Japan lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +79.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Germany ($X) and Poland ($X) were the largest potato starch suppliers to Thailand, together accounting for 86% of total imports. France, the Netherlands and Japan lagged somewhat behind, together comprising a further 13%.

Among the main suppliers, Japan, with a CAGR of +69.7%, 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

In 2021, the average potato starch import price amounted to $X per ton, falling by -9.1% against the previous year. Over the period under review, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2019 an increase of 12%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Japan ($X per ton), while the price for Poland ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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