Ukraine: Glucose Market 2024

Glucose Market Size in Ukraine

The Ukrainian glucose market surged to $X in 2021, increasing by 23% against the previous year. Over the period under review, consumption, however, saw a noticeable slump. Glucose consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Glucose Production in Ukraine

In value terms, glucose production totaled less than $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern.

Glucose Exports

Exports from Ukraine

In 2021, after two years of growth, there was significant decline in shipments abroad of glucose and glucose syrup, when their volume decreased by -47.2% to X tons. In general, exports, however, enjoyed a measured increase. The pace of growth appeared the most rapid in 2013 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then declined significantly in the following year.

In value terms, glucose exports shrank significantly to $X in 2021. Over the period under review, total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 62%. Over the period under review, the exports hit record highs at $X in 2020, and then contracted sharply in the following year.

Exports by Country

Togo (X tons), Indonesia (X tons) and Nigeria (X tons) were the main destinations of glucose exports from Ukraine, with a combined 61% share of total exports. These countries were followed by Belarus, Algeria, Ghana, Guatemala and Moldova, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +961.4%), while the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Nigeria ($X) and Indonesia ($X) constituted the largest markets for glucose exported from Ukraine worldwide, together comprising 62% of total exports. These countries were followed by Belarus, Algeria, Guatemala, Ghana and Moldova, which together accounted for a further 21%.

Guatemala, with a CAGR of +1,121.8%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average glucose export price stood at $X per ton in 2021, jumping by 31% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to Indonesia ($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 Guatemala (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Glucose Imports

Imports into Ukraine

In 2021, the amount of glucose and glucose syrup imported into Ukraine surged to X tons, jumping by 67% compared with the year before. Over the period under review, imports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 214% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, glucose imports surged to $X in 2021. Overall, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 when imports increased by 137% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

Bulgaria (X tons), Poland (X tons) and China (X tons) were the main suppliers of glucose imports to Ukraine, together comprising 73% of total imports. Lithuania, Hungary, Germany, Finland and France lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +124.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glucose suppliers to Ukraine were Bulgaria ($X), Poland ($X) and China ($X), with a combined 63% share of total imports. Germany, Lithuania, Finland, Hungary and France lagged somewhat behind, together accounting for a further 29%.

In terms of the main suppliers, Hungary, with a CAGR of +96.9%, 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

The average glucose import price stood at $X per ton in 2021, declining by -6.6% against the previous year. Overall, the import price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 68% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :