Updated Jan 14, 2023 19:11

Modified Starches Market in South-Eastern Asia

Market Overview
The Southeast Asian modified starches market surged to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated buoyant growth from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. The level of consumption peaked at $ in 2011; however, from 2012 to , consumption stood at a somewhat lower figure.

In value terms, modified starches production amounted to $ in estimated in export price. The total output value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the production volume increased by %. The level of production peaked at $ in 2011; however, from 2012 to , production failed to regain momentum.

The country with the largest volume of modified starches production was Thailand ( tons), comprising approx. % of total volume. Moreover, modified starches production in Thailand exceeded the figures recorded by the second-largest producer, Indonesia ( tons), twofold. The third position in this ranking was taken by Vietnam ( tons), with a % share.

In Thailand, modified starches production remained relatively stable over the period from 2007-. In the other countries, the average annual rates were as follows: Indonesia (+% per year) and Vietnam (+% per year).


Consumption
In , the amount of dextrins and other modified starches consumed in South-Eastern Asia skyrocketed to tons, with an increase of % against figures. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak volume of tons. From 2009 to , the growth of the consumption failed to regain momentum.

The revenue of the modified starches market in South-Eastern Asia soared to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a strong increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption decreased by -% against indices. Over the period under review, the market attained the maximum level at $ in 2011; however, from 2012 to , consumption failed to regain momentum.


Consumption by Country
The country with the largest volume of modified starches consumption was Indonesia ( tons), comprising approx. % of total volume. Moreover, modified starches consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Vietnam ( tons), fourfold. The third position in this ranking was held by the Philippines ( tons), with a % share.

From 2007 to , the average annual growth rate of volume in Indonesia stood at +%. The remaining consuming countries recorded the following average annual rates of consumption growth: Vietnam (+% per year) and the Philippines (+% per year).

In value terms, Indonesia ($) led the market, alone. The second position in the ranking was held by the Philippines ($). It was followed by Myanmar.

From 2007 to , the average annual rate of growth in terms of value in Indonesia stood at +%. The remaining consuming countries recorded the following average annual rates of market growth: the Philippines (+% per year) and Myanmar (+% per year).

The countries with the highest levels of modified starches per capita consumption in were Malaysia ( kg per person), Indonesia ( kg per person) and Cambodia ( kg per person).

From 2007 to , the biggest increases were recorded for Indonesia (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.


Market Forecast
The modified starches market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .