ASEAN: Sorbitol Market 2024

Sorbitol Market Size in ASEAN

In 2023, the ASEAN sorbitol market was finally on the rise to reach $X for the first time since 2019, thus ending a three-year declining trend. In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2023, consumption remained at a lower figure.

Sorbitol Production in ASEAN

In value terms, sorbitol production reduced to $X in 2023 estimated in export price. Overall, production recorded a mild slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Sorbitol Exports

Exports in ASEAN

In 2023, exports of d-glucitol (sorbitol) in ASEAN contracted to X tons, waning by X% on the previous year. Overall, exports showed a pronounced decline. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, sorbitol exports contracted to $X in 2023. Over the period under review, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Indonesia was the main exporter of d-glucitol (sorbitol) in ASEAN, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Thailand (X tons), committing a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to sorbitol exports from Indonesia stood at X%. At the same time, Thailand (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Indonesia ($X) remains the largest sorbitol supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Indonesia amounted to X%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, flattening at the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%).

Sorbitol Imports

Imports in ASEAN

In 2023, the amount of d-glucitol (sorbitol) imported in ASEAN rose slightly to X tons, picking up by X% on the year before. Total imports indicated strong growth 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, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, sorbitol imports declined slightly to $X in 2023. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Thailand (X tons) represented the key importer of d-glucitol (sorbitol), mixing up X% of total imports. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Malaysia (X%) and the Philippines (X%). Singapore (X tons) followed a long way behind the leaders.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, Indonesia (X%), Malaysia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, the Philippines (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Thailand (X p.p.), Indonesia (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Vietnam (X p.p.), Singapore (X p.p.) and the Philippines (X p.p.) displayed negative dynamics.

In value terms, Thailand ($X) constitutes the largest market for imported d-glucitol (sorbitol) in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Thailand stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Malaysia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform