Maize starch market in South-eastern Asia

Earlier Report Observations

From 2018 to 2020, the maize starch market in South-eastern Asia expanded from 775.5 thousand tons to 934.4 thousand tons. This growth was driven by the expansion of the processed food industry and increasing consumer preference for clean-label products, which boosted starch consumption. The entry of new players and capacity expansions in the region further supported market growth. In 2020, the COVID-19 pandemic caused temporary supply chain disruptions, but rising demand for convenience foods helped sustain the market.

After peaking in 2020, the market size contracted to 548.0 thousand tons by 2023. This decline coincided with tighter regulatory requirements for labeling and food safety in key countries, which increased compliance costs and affected product availability. Volatility in corn prices due to adverse weather and geopolitical tensions raised raw material expenses, putting pressure on the market. Additionally, the introduction of new regulations on permitted additives and labeling for starch-derived products further influenced market conditions.

In 2024, the trend toward clean and natural label products continued, with investments in production capacity expansion and development of modified and organic starch segments. Regulatory updates on food safety standards and labeling aligned with international norms, while global factors such as corn price fluctuations persisted.

Production maize starch in South-eastern Asia

In kind, 2017-2020, K t

Top producers of maize starch, 2017-2020

World map of production of maize starch, 2017-2020

In 2020, South-eastern Asia produced 154.8 K t of maize starch, representing a 35.9% increase compared to the previous year. Looking at the period from 2017 to 2020, production grew by 48.1%, which translates to an annualized growth rate of 14.0%. The most significant production decline occurred in 2019, when output fell by 6.7%.

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

Exports maize starch from South-eastern Asia

Exports in kind, K t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2020 and peaked in 2017, with an 8.9-fold difference between these years. In 2020, maize starch shipments from South-eastern Asia to international markets totaled 2.6 K t, down 16.9% from 2019. The largest decline was recorded in 2018 at 87.7%, while the most notable increase occurred in 2019 with a 9.2% rise.

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

From 2017 to 2020, South Korea and Asia, not elsewhere specified, were the primary destinations for maize starch exports from South-eastern Asia in volume terms, together accounting for 2.4% of total export flows.

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

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

Exports in value, M $ US

In 2020, the value of maize starch exports from South-eastern Asia reached 18.3 M $ US, marking a 38.5% increase from the previous year. Over the 2017-2020 period, export value grew by 48.4%, corresponding to a compound annual growth rate (CAGR) of 14.1%. The most significant decline occurred in 2019, when export value fell by 8.8%.

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

Throughout 2017-2020, South Korea and Asia, not elsewhere specified, held the top positions in the export structure by value, jointly representing 2.3% of total export flows.

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

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

Imports maize starch to South-eastern Asia

Imports in kind, K t

South-eastern Asia's maize starch imports increased for the third consecutive year. In 2020, import volume amounted to 782.2 K t, showing a 0.9% year-over-year growth. Between 2017 and 2020, imports surged by 161.3%, equating to an annualized growth rate of 37.7%.

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

From 2017 to 2020, the country structure of maize starch imports by volume was highly concentrated, with China and India together accounting for 80.4% of total import flows, while other partners formed the remaining share.

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

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

Imports in value, M $ US

Maize starch imports into South-eastern Asia increased for the third consecutive year. In 2020, import value stood at 302.8 M $ US, up 3.3% from the previous year. Over the 2017-2020 period, import value grew by 178.9%, corresponding to a compound annual growth rate (CAGR) of 40.8%.

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

During 2017-2020, China (63.8% of import value), India (14.1% of import value), and South Korea (4.9% of import value) together accounted for 82.8% of total maize starch import value into South-eastern Asia, making them the primary sources.

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

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