Starch other than Wheat, Corn or Potato Market

The global market for starch other than wheat, corn or potato is projected to continue growing over the next eight years, with expected increases in consumption and market value. China leads in both consumption and imports of starch, while Thailand and Vietnam dominate in exports. The market is forecasted to see steady growth in the near future, with overall production, consumption, imports, and exports on the rise. Significant differences in average prices and growth rates are observed among the major countries involved in the starch market.

Market Forecast

Driven by increasing demand for starch other than wheat, corn or potato worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 16M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $18.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Starch other than Wheat, Corn or Potato

Global consumption of starch other than wheat, corn or potato rose remarkably to 14M tons in 2022, picking up by 11% against the year before. Overall, consumption showed a resilient increase. Over the period under review, global consumption of attained the peak volume in 2022 and is likely to continue growth in the near future.

The value of the market for starch other than wheat, corn or potato worldwide rose significantly to $13.2B in 2022, surging by 11% 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). In general, consumption recorded a buoyant expansion. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

China (4.3M tons) constituted the country with the largest volume of consumption of starch other than wheat, corn or potato, comprising approx. 31% of total volume. Moreover, consumption of starch other than wheat, corn or potato in China exceeded the figures recorded by the second-largest consumer, the United States (532K tons), eightfold. India (520K tons) ranked third in terms of total consumption with a 3.8% share.

In China, consumption of starch other than wheat, corn or potato expanded at an average annual rate of +15.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+6.7% per year) and India (+8.2% per year).

In value terms, China ($2.1B), Japan ($1.2B) and Russia ($556M) constituted the countries with the highest levels of market value in 2022, with a combined 29% share of the global market.

Among the main consuming countries, China, with a CAGR of +16.1%, recorded the highest rates of growth with regard to market size over the period under review, while potato for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of starch other than wheat, corn or potato was registered in Taiwan (Chinese) (14 kg per person), followed by Malaysia (6.3 kg per person), France (3.2 kg per person) and China (3 kg per person), while the world average per capita consumption of starch other than wheat, corn or potato was estimated at 1.7 kg per person.

In Taiwan (Chinese), per capita consumption of starch other than wheat, corn or potato remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+0.6% per year) and France (+11.9% per year).

Production

World Production of Starch other than Wheat, Corn or Potato

In 2022, global production of starch other than wheat, corn or potato rose to 14M tons, surging by 1.6% on the previous year's figure. Over the period under review, production enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 27%. Global production peaked in 2022 and is likely to see steady growth in the near future.

In value terms, production of starch other than wheat, corn or potato stood at $11.2B in 2022 estimated in export price. Overall, production showed a prominent expansion. The growth pace was the most rapid in 2018 when the production volume increased by 58%. Global production peaked at $11.8B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Thailand (3.7M tons), Vietnam (2.5M tons) and India (527K tons), with a combined 48% share of global production. The United States, Brazil, Russia and Pakistan lagged somewhat behind, together accounting for a further 9.2%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +14.0%), while potato for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Starch other than Wheat, Corn or Potato

For the fourth year in a row, the global market recorded growth in supplies from abroad of starch other than wheat, corn or potato, which increased by 27% to 6.3M tons in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.7% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of starch other than wheat, corn or potato skyrocketed to $3.6B in 2022. Overall, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

China dominates potato structure, finishing at 4.3M tons, which was near 69% of total imports in 2022. Taiwan (Chinese) (346K tons) took a 5.5% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (4.6%). Malaysia (233K tons), the United States (191K tons) and Japan (146K tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the starch other than wheat, corn or potato imports, with a CAGR of +15.2% from 2012 to 2022. At the same time, the United States (+9.2%) and Malaysia (+1.9%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-1.8%) and Indonesia (-9.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +35 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.2B) constitutes the largest market for imported starch other than wheat, corn or potato worldwide, comprising 62% of global imports. The second position in the ranking was held by Taiwan (Chinese) ($180M), with a 5.1% share of global imports. It was followed by Indonesia, with a 4.4% share.

In China, imports of starch other than wheat, corn or potato expanded at an average annual rate of +16.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+1.5% per year) and Indonesia (-7.5% per year).

Import Prices By Country

In 2022, the average import price for starch other than wheat, corn or potato amounted to $568 per ton, with an increase of 6.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2018 when the average import price increased by 36% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($782 per ton), while Malaysia ($499 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Starch other than Wheat, Corn or Potato

In 2022, overseas shipments of starch other than wheat, corn or potato increased by 3.7% to 6.7M tons, rising for the fourth year in a row after two years of decline. The total export volume increased at an average annual rate of +5.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 19%. Over the period under review, the global exports of hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of starch other than wheat, corn or potato reached $3.4B in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 32% against the previous year. Over the period under review, the global exports of attained the maximum in 2022 and are expected to retain growth in the near future.

Exports By Country

Thailand (3.6M tons) and Vietnam (2.5M tons) dominates potato structure, together making up 92% of total exports. Lao People's Democratic Republic (101K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Lao People's Democratic Republic (with a CAGR of +14.4%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest starch other than wheat, corn or potato supplying countries worldwide were Thailand ($1.8B), Vietnam ($1.2B) and Lao People's Democratic Republic ($52M), with a combined 88% share of global exports.

Lao People's Democratic Republic, with a CAGR of +15.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for starch other than wheat, corn or potato amounted to $513 per ton, growing by 5.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($517 per ton), while Vietnam ($476 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+0.9%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform