ASEAN: Glucose Market 2024

Glucose Market Size in ASEAN

In 2022, the ASEAN glucose market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Glucose Production in ASEAN

In value terms, glucose production fell to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Glucose Exports

Exports in ASEAN

In 2022, approx. X tons of glucose and glucose syrup were exported in ASEAN; growing by X% against 2021. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2018 indices. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, glucose exports shrank to $X in 2022. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then reduced slightly in the following year.

Exports by Country

Thailand represented the main exporter of glucose and glucose syrup in ASEAN, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons), together making up a X% share of total exports.

Exports from Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Thailand and Indonesia increased by X, X and X percentage points, respectively.

In value terms, Thailand ($X) remains the largest glucose supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with an X% share.

In Thailand, glucose exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, reducing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2021, and then fell in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Malaysia ($X per ton), while Vietnam ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, 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 ASEAN

Glucose imports was estimated at X tons in 2022, picking up by X% against the previous year. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, glucose imports soared to $X in 2022. Overall, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Philippines (X tons) and Indonesia (X tons) were the largest importers of glucose and glucose syrup in ASEAN, together committing 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 Thailand (X%), Malaysia (X%) and Singapore (X%). Myanmar (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand, Malaysia, Singapore and Myanmar lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in ASEAN amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, 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.

Source: IndexBox Platform

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