South-Eastern Asia: Glucose Market 2024

Glucose Market Size in South-Eastern Asia

In 2023, the Southeast Asian glucose market increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2023 and is likely to continue growth in the near future.

Glucose Production in South-Eastern Asia

In value terms, glucose production declined modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2023, production remained at a lower figure.

Glucose Exports

Exports in South-Eastern Asia

In 2023, approx. X tons of glucose and glucose syrup were exported in South-Eastern Asia; which is down by X% compared with the year before. Total exports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, glucose exports declined remarkably to $X in 2023. Overall, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2022, and then shrank dramatically in the following year.

Exports by Country

Thailand represented the major exporting country with an export of around X tons, which reached X% of total exports. Vietnam (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (X%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to glucose exports from Thailand stood at X%. At the same time, Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Vietnam (X p.p.), Indonesia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the largest glucose supplying countries in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Indonesia ($X), with a combined X% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Glucose Imports

Imports in South-Eastern Asia

Glucose imports rose significantly to X tons in 2023, surging by X% on the previous year's figure. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to see steady growth in the immediate term.

In value terms, glucose imports reduced modestly to $X in 2023. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped modestly in the following year.

Imports by Country

The Philippines (X tons) and Indonesia (X tons) represented the main importers of glucose and glucose syrup in 2023, finishing at approx. X% and X% of total imports, respectively. Thailand (X tons) took the next position in the ranking, followed by Vietnam (X tons) and Malaysia (X tons). All these countries together held near X% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Indonesia ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Singapore ($X per ton) and the Philippines ($X per ton), while Vietnam ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform