Vietnam: Inulin Market 2024

Inulin Market Size in Vietnam

In 2021, the Vietnamese inulin market increased by 0.8% to $X, rising for the second year in a row after five years of decline. Over the period under review, consumption, however, showed a abrupt decline. Inulin consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Inulin Production in Vietnam

In value terms, inulin production fell modestly to $X in 2021 estimated in export price. Overall, production, however, faced a deep downturn. The pace of growth appeared the most rapid in 2014 when the production volume increased by 7.2% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Inulin Exports

Exports from Vietnam

In 2021, inulin exports from Vietnam surged to X tons, increasing by 944% against 2020. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, inulin exports skyrocketed to $X in 2021. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons), Lao People's Democratic Republic (X tons) and Canada (X tons) were the main destinations of inulin exports from Vietnam, with a combined 92% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +362.9%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the key foreign market for inulin exports from Vietnam, comprising 64% of total exports. The second position in the ranking was held by Canada ($X), with a 22% share of total exports. It was followed by Germany, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia totaled +254.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (0.0% per year) and Germany (0.0% per year).

Export Prices by Country

In 2021, the average inulin export price amounted to $X per ton, declining by -47.5% against the previous year. In general, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 68%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iceland ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Iceland (-2.3%).

Inulin Imports

Imports into Vietnam

In 2021, imports of inulin into Vietnam skyrocketed to X tons, picking up by 24% against 2020. In general, imports saw a remarkable increase. The pace of growth was the most pronounced in 2015 with an increase of 912% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, inulin imports soared to $X in 2021. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 889%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Chile (X tons) constituted the largest supplier of inulin to Vietnam, with a 64% share of total imports. Moreover, inulin imports from Chile exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. Thailand (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from Chile amounted to +35.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.2% per year) and Thailand (+46.4% per year).

In value terms, Chile ($X) constituted the largest supplier of inulin to Vietnam, comprising 63% of total imports. The second position in the ranking was held by Belgium ($X), with a 13% share of total imports. It was followed by Thailand, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Chile amounted to +32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+1.0% per year) and Thailand (+43.3% per year).

Import Prices by Country

The average inulin import price stood at $X per ton in 2021, with a decrease of -6.2% against the previous year. In general, the import price saw a noticeable downturn. The pace of growth was the most pronounced in 2018 an increase of 11% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and Chile ($X per ton), while the price for the Netherlands ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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