Vietnam: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Vietnam

The Vietnamese market for malt extract and food preparations of flour, meal, and starches expanded modestly to $X in 2022, increasing by 4.1% against the previous year. Overall, consumption, however, showed a deep slump. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Malt Extract And Food Preparations Of Flour, Meal, And Starch in Vietnam

In value terms, production of malt extract and food preparations of flour, meal, and starches skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by 546%. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Vietnam

Exports of malt extract and food preparations of flour, meal, and starches from Vietnam totaled X tons in 2022, picking up by 2% compared with the year before. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 40%. Over the period under review, the exports of reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of malt extract and food preparations of flour, meal, and starches shrank modestly to $X in 2022. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 43% against the previous year. The exports peaked at $X in 2021, and then declined modestly in the following year.

Exports by Country

Iraq (X tons) was the main destination for exports of malt extract and food preparations of flour, meal, and starches from Vietnam, accounting for a 83% share of total exports. Moreover, exports of malt extract and food preparations of flour, meal, and starches to Iraq exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. Japan (X tons) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq totaled +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+17.9% per year) and Japan (+37.5% per year).

In value terms, Iraq ($X) remains the key foreign market for malt extract and food preparations of flour, meal, and starches exports from Vietnam, comprising 84% of total exports. The second position in the ranking was held by Turkey ($X), with a 4.7% share of total exports. It was followed by Japan, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iraq totaled +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+17.5% per year) and Japan (+40.2% per year).

Export Prices by Country

The average export price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, reducing by -3.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2020 an increase of 13%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+2.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Vietnam

In 2022, imports of malt extract and food preparations of flour, meal, and starches into Vietnam reduced to X tons, falling by -6.2% compared with 2021. In general, imports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 66% against the previous year. Over the period under review, imports of reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of malt extract and food preparations of flour, meal, and starches fell to $X in 2022. Overall, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 with an increase of 79%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), Singapore (X tons) and Australia (X tons) were the main suppliers of imports of malt extract and food preparations of flour, meal, and starches to Vietnam, with a combined 69% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and Australia ($X) constituted the largest malt extract and food preparations of flour, meal, and starch suppliers to Vietnam, with a combined 67% share of total imports.

In terms of the main suppliers, Malaysia, with a CAGR of +27.8%, 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

In 2022, the average import price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, dropping by -3% against the previous year. In general, the import price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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