Eastern Asia: Sugars Market 2024

Sugars Market Size in Eastern Asia

The East Asian sugars market shrank modestly to $X in 2023, declining by X% against the previous year. The total consumption indicated perceptible growth from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Sugars Production in Eastern Asia

In value terms, sugars production stood at $X in 2023 estimated in export price. The total production indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Sugars Exports

Exports in Eastern Asia

Sugars exports expanded notably to X tons in 2023, growing by X% compared with the previous year's figure. Over the period under review, exports saw a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in years to come.

In value terms, sugars exports shrank slightly to $X in 2023. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then reduced in the following year.

Exports by Country

In 2023, China (X tons) was the largest exporter of sugars, sugar ethers and salts, generating X% of total exports. It was distantly followed by Japan (X tons), creating a X% share of total exports.

China was also the fastest-growing in terms of the sugars, sugar ethers and salts exports, with a CAGR of X% from 2012 to 2023. At the same time, Japan (X%) displayed positive paces of growth. From 2012 to 2023, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest sugars supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

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

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China amounted to $X per ton.

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

Sugars Imports

Imports in Eastern Asia

In 2023, supplies from abroad of sugars, sugar ethers and salts increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, sugars imports expanded to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Japan was the main importer of sugars, sugar ethers and salts in Eastern Asia, with the volume of imports recording X tons, which was near X% of total imports in 2023. It was distantly followed by South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons), together constituting a X% share of total imports.

Imports into Japan decreased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. China experienced a relatively flat trend pattern. South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Japan, sugars imports plunged by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2023.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform