Cassava starch market in Asia

Earlier Report Observations

The cassava starch market in Asia expanded from 5 266 thousand tons in 2018 to 7 823 thousand tons in 2021. This sustained growth was primarily driven by the widespread adoption of high-yielding, high-starch cassava varieties and improved agronomic practices across the region, which boosted production efficiency and output. Concurrently, rising global demand for cassava starch in food, pharmaceutical, and industrial applications, supported by China's Healthy China initiative promoting functional starch products, increased consumption and market volume.

Market volume contracted to 5 988 thousand tons in 2022 before recovering modestly to 6 234 thousand tons in 2023. The sharp decline in 2022 was influenced by global supply chain disruptions and significant price fluctuations for corn and cassava starch, which disrupted trade and processing activity. The partial recovery in 2023 was underpinned by continued strong demand for cassava starch from China, although this was tempered by price volatility and underutilized processing capacity in Vietnam due to raw material shortages.

In recent years, the industry's focus has shifted toward sustainability and product diversification. Thailand has reinforced its leadership with commitments to reduce greenhouse gas emissions in cassava starch production, while Vietnam implemented a government-approved project for sustainable cassava industry development to 2030. However, the market faced new pressures in 2024, including reduced export prices due to lower Chinese demand and inventory adjustments, alongside weather-related delays to the cassava planting season in northern Vietnam.

Production cassava starch in Asia

In kind, 2017-2020, K t

Top producers of cassava starch, 2017-2020

World map of production of cassava starch, 2017-2020

Asia's cassava starch production declined after two consecutive years of growth. In 2019, production reached its peak at 6 925 K t, but then fell slightly to 6 864 K t in 2020, representing a 0.9% decrease. Over the period from 2017 to 2020, production increased by 16.8%, which translates to an average annual growth rate of 5.3%. The most significant year-on-year increase occurred in 2018, with a rise of 9.3%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports cassava starch from Asia

Exports in kind, K t

The data shows irregular changes, pointing to a volatile market environment. The lowest export volume was recorded in 2017, while the highest was in 2019, with a peak-to-trough ratio of 5 times. In 2020, cassava starch exports from Asia amounted to 589 K t, marking a sharp decline of 79.8% compared to the previous year. The maximum value was 2 908 K t in 2019, and the largest increase occurred in 2018, with a surge of 389.3%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

From 2017 to 2020, Asia (not elsewhere specified) and the United States together accounted for the main share of exports in kind, representing 7.1% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

Exported cassava starch volumes from Asia declined for the second year in a row. In 2020, export volume reached 2 081 M $ US, reflecting a slight decrease of 3.0% compared to the previous year. Over the period from 2017 to 2020, exports increased by 15.1%, equivalent to an annualized growth rate of 4.8%. The maximum value was recorded in 2018 at 2 198 M $ US, with the largest increase also occurring in that year at 21.6%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

Throughout 2017–2020, Asia (not elsewhere specified) and the United States formed the core group of markets for exports in value terms, jointly accounting for 6.7% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports cassava starch to Asia

Imports in kind, K t

There were noticeable fluctuations in market performance during this period. The lowest import volume was in 2020, while the peak occurred in 2019, with a 5.9-fold gap between these years. In 2020, cassava starch imports into Asia came to 317 K t, showing a steep decrease of 83.1% compared to 2019. The maximum value was 1 872 K t in 2019, and the largest increase was recorded in that same year at 9.6%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

After two years of growth, the volume of cassava starch imports into Asia declined. In 2020, Asia imported 1 426 M $ US of cassava starch, representing a 1.1% fall compared to the previous year. Over the period from 2017 to 2020, imports increased by 25.5%, with a compound annual growth rate of 7.9%. The maximum value was recorded in 2019 at 1 442 M $ US, and the largest increase occurred in 2018, with a rise of 25.5%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020