Eastern Asia: Sugar Market 2024

Sugar Market Size in Eastern Asia

The East Asian sugar market declined to $X in 2022, waning by X% against the previous year. In general, consumption showed a noticeable decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sugar Production in Eastern Asia

In value terms, sugar production shrank dramatically to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

China (X tons) remains the largest sugar producing country in Eastern Asia, comprising approx. X% of total volume. Moreover, sugar production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), more than tenfold.

In China, sugar production declined by an average annual rate of X% over the period from 2012-2022.

Sugar Exports

Exports in Eastern Asia

In 2022, the amount of sugar exported in Eastern Asia declined to X tons, waning by X% against 2021 figures. Over the period under review, exports continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, sugar exports rose to $X in 2022. In general, exports, however, recorded a modest increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) and Taiwan (Chinese) (X tons) prevails in exports structure, together achieving X% of total exports. It was distantly followed by Hong Kong SAR (X tons), comprising an X% share of total exports. The following exporters - South Korea (X tons) and Japan (X tons) - each accounted for a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest sugar supplying countries in Eastern Asia were Taiwan (Chinese) ($X), China ($X) and Hong Kong SAR ($X), together comprising X% of total exports. Japan and South Korea lagged somewhat behind, together accounting for a further X%.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price posted perceptible growth. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Sugar Imports

Imports in Eastern Asia

In 2022, after four years of growth, there was decline in overseas purchases of sugar, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The volume of import peaked at X tons in 2021, and then fell in the following year.

In value terms, sugar imports skyrocketed to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2012; afterwards, it flattened through to 2022.

Imports by Country

China represented the largest importing country with an import of around X tons, which recorded X% of total imports. South Korea (X tons) held the second position in the ranking, distantly followed by Japan (X tons) and Taiwan (Chinese) (X tons). All these countries together took approx. X% share of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported sugar in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, saw a mild descent. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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