Asia: Malt Market 2022

Malt Market Size in Asia

In 2021, after three years of growth, there was decline in the Asian malt market, when its value decreased by -2% to $X. In general, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by 4.2% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Malt Production in Asia

In value terms, malt production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 3.5%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Malt Exports

Exports in Asia

In 2021, after five years of growth, there was significant decline in shipments abroad of malt, when their volume decreased by -15.1% to X tons. The total export volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 21% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell markedly in the following year.

In value terms, malt exports fell to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 11%. The level of export peaked at $X in 2020, and then shrank in the following year.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 89% of total exports in 2021. It was distantly followed by India (X tons), constituting a 4.7% share of total exports. Kazakhstan (X tons) took a little share of total exports.

Exports from China increased at an average annual rate of +2.1% from 2012 to 2021. At the same time, India (+11.6%) and Kazakhstan (+6.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +11.6% from 2012-2021. While the share of India (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest malt supplier in Asia, comprising 89% of total exports. The second position in the ranking was taken by India ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: India (+10.6% per year) and Kazakhstan (-3.1% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, picking up by 10% against the previous year. In general, the export price, however, saw a perceptible slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.9%), while the other leaders experienced a decline in the export price figures.

Malt Imports

Imports in Asia

In 2021, purchases abroad of malt decreased by -13.2% to X tons for the first time since 2015, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 10%. Over the period under review, imports hit record highs at X tons in 2020, and then declined in the following year.

In value terms, malt imports reduced to $X in 2021. In general, imports recorded a slight setback. The most prominent rate of growth was recorded in 2018 when imports increased by 6%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Vietnam (X tons) and Japan (X tons) were the main importers of malt in 2021, recording near 25% and 18% of total imports, respectively. Thailand (X tons) ranks next in terms of the total imports with an 11% share, followed by South Korea (8.9%), the Philippines (6.6%) and Cambodia (5.6%). Singapore (X tons), Turkey (X tons), Taiwan (Chinese) (X tons) and Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +20.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 51% share of total imports. South Korea, the Philippines, Cambodia, Turkey, Singapore, Taiwan (Chinese) and Myanmar lagged somewhat behind, together comprising a further 35%.

Among the main importing countries, Turkey, with a CAGR of +18.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 6% against the previous year. Overall, the import price, however, continues to indicate a perceptible slump. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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